"Our form of capitalism is at a disadvantage compared to state capitalism, " says Mr D'Aveni.
The rise of state capitalism is also undoing many of the assumptions about the effects of globalisation.
For emerging countries wanting to make their mark on the world, state capitalism has an obvious appeal.
That system of state capitalism worked when the aim was to copy and adapt other people's ideas in the cheapest way possible.
Haley is the co-author of the book Subsidies to Chinese Industry: State Capitalism, Business Strategy and Trade Policy by Oxford University Press.
Apart from Singapore, where state capitalism is strong, politicians are usually in hock to fundraisers, which tends to reinforce the advantages of asset-rich insiders.
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In a new working paper, Leviathan in Business: Varieties of State Capitalism and Their Implications for Economic Performance, Musacchio and colleague Sergio G.
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State capitalism works well only when directed by a competent state.
First, it is a powerful reminder, at a time when the Chinese model of state capitalism is gaining adherents, that the free market can still be remarkably innovative.
Russian entrepreneurs understand that another six or even twelve years of Putin means more of the same state capitalism, which they see as unbridled corruption, cronyism, and extreme uncertainty with regard to property rights.
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Mr Bremmer, the president of the Eurasia Group, a political-risk consultancy, points out that state capitalism's fate is bound up with the fortunes of some very unpleasant political cliques, such as the Saudi royal family and the Russian oligarchy.
In that book he argues that even Western economies are moving away from free market capitalism and toward state capitalism, a system where governments take over large portions of the economy and do what is in their best interest rather than what's in the best interest of the private sector.
The Dragon Mart is evidence of the symbiotic relationship between state and entrepreneurial capitalism.
Some countries that have practiced state-sponsored capitalism have had some success, but these countries have a more capitalistic bent, he said.
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Pro-business types are in favor of this sort of state-subsidized capitalism.
Once you understand that the central bank is really part of the state in modern capitalism, and that the crisis has made it the most important and powerful part, that allows you to understand almost everything else.
That - as I have written here before - when we decided that the state should save freemarket capitalism without anybody taking a serious loss, we simply transferred the losses to the state itself.
Instead capitalism is skewed towards the state and business houses (conglomerates usually controlled by families and family trusts).
Private-equity firms and leveraged buyouts, which is one of the ways Bain pursued its business, are, after all, pretty much capitalism parading around in its most naked state.
Free markets are how many libertarians and anarcho-capitalist types have come to think of capitalism, but free markets are capitalism in a pure sense, sans state intervention and cronyism.
This will be a big test for the Batista brothers and for Brazil's tropical brand of capitalism, which mixes family control with traded stock, and finance from state-run banks with foreign acquisitions.
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So if there is no hope for reforms of the welfare society, the next question must be whether capitalism can exist or co-exist in the long-term in a social welfare state.
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