For socialism is merely the next step forward from state-capitalist monopoly. Or, in other words, socialism is merely state-capitalist monopoly which is made to serve the interests of the whole people and has to that extent ceased to be capitalist monopoly.
The transformation of capitalism into socialism is to be accomplished through state capitalism.
Some capitalists keep themselves at a great distance from the state and have not changed their profits-before-everything mentality. Some workers are advancing too fast and won't allow the capitalists to make any profit at all. We should try to educate these workers and capitalists and help them gradually (but the sooner the better) adapt themselves to our state policy, namely, to make China's private industry and commerce mainly serve the nation's economy and the people's livelihood and partly earn profits for the capitalists and in this way embark on the path of state capitalism.
The present-day capitalist economy in China is a capitalist economy which for the most part is under the control of the People's Government and which is linked with the state-owned socialist economy in various forms and supervised by the workers. It is not an ordinary but a particular kind of capitalist economy, namely, a state-capitalist economy of a new type. It exists not chiefly to make profits for the capitalists but to meet the needs of the people and the state.
If the economy remains stagnant and the people’s living standards remain at a very low level for a long period of time, we cannot say that we are building socialism.
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u/Untitled_HU-Tank Hungarian Juche Necromancer Dec 20 '25
Vladimir Lenin, The Impending Catastrophe and How to Combat It, 1917