A world organized as one state trust would be neither capitalism nor socialism

Evidence

Were the commodity character of production to disappearfor instance through the organization of all world economy into one gigantic State trust, the impossibility of which we tried to prove in our chapter on ultra-imperialismwe should have an entirely new economic form. This would be capitalism no more, for the production of commodities would have disappeared; still less would it be socialism, for the power of one class over the other would have remained (and even grown stronger). Such an economic structure would, most of all, resemble a slave-owning economy where the slave market is absent. — Rolf Wiggershaus, The Frankfurt School, 307

Categorization

• DEFINE: Bukharin’s 1918 construct defines the hypothetical third economic form that later debates about Nazi Germany presupposed.
• XREF: Connects to ‘Against Postmodernism’ on capitalism’s possible ends, and to Pollock’s state capitalism thesis in the same volume.