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State capitalism

by Marcelo Resico

A debate on models of capitalism and the Social Market Economy

Marcelo Resico, director of the PhD program in Economics at the Catholic University of Buenos Aires, characterizes a paradigm of economic policy, the so called “state capitalism“.

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Government interventions have been used as tools to fix economical problems in various countries worldwide during the last crisis. Steps like for instance the maintenance of companies or financial institutes or even the expansion of unemployment insurances have been seen as short-term measures by many of the industrialized countries. In several emerging countries, however, the interventions paved the way for the lead-in of a model of economical control and governmental centralization.

Marcelo Resico criticizes the phenomenon of “state capitalism" and highlights the advantages of the German model "Social Market Economy" as an alternative.

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Kathrin Zeller

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