Modern Capitalism

Capitalism in the period from the victory of the October Revolution in 1917 to the end of the World War II. Modern capitalism is the capitalism in transition from private monopoly to state monopoly on the whole, and its most striking feature is the emergence of state monopoly capitalism. State monopoly capitalism is a kind of monopoly capitalism formed by the combination of private monopoly capital and state power. It is still based on capitalist private property and maintains the overall interests of the bourgeoisie class and the fundamental system of capitalism. However, the transformation from private monopoly capitalism to state monopoly capitalism means that some qualitative changes have taken place in the capitalist relations of production. As far as the internal logic of capitalism is concerned, the future form of state monopoly capitalism is the international monopoly capitalism. In the epoch of imperialism and proletarian revolution, under certain conditions, the state monopoly capitalism carried out by the undeveloped rising independent countries creates the material conditions for the establishment of socialist system and is, under certain conditions, the “entrance” to socialism.