The New Authoritarian Capitalists: State, Inc.
But in the past five years, governments around the world have been transforming themselves into deal makers and business players on a scale never seen in the modern era.
The rise of states as global economic players marks a sharp reversal from decades in which private enterprise seemed an unstoppable force in global finance, commerce, and culture. It represents a new and unexpected fusion of state control with the business principles of capitalism. And it is already causing a significant shift in global power.
The new state capitalists - China, the United Arab Emirates, Russia, and others - are primarily authoritarian nations. And as they become bigger commercial players, they are gaining new influence in a realm once dominated by the democratic West. As the global business momentum shifts from private companies to national governments, the implications are far reaching.
Read more of the article "State, Inc." in the Boston Globe.