State monopoly capitalism; a critical point of view

Abstract

The article analyzes the concept of state monopoly capitalism and its application
to the current stage of capitalism in Brazil. The first part surveys the theoretical literature,
from Lenin’s original formulation to recent developments by French and Soviet authors
and sums up the main criticism to the concept. It also suggests the emphasis on the capital
internalization process as an alternative analytical approach for the understanding of modern
capitalism. In the second part, the article questions those authors who consider that the
concept of state monopoly capitalism provides an adequate framework for the analysis of
Brazilian capitalism.

JEL Classification: P12; P10; O10.