Pollock predicted Western democracies would adopt state-directed capitalism

Evidence

In 1941 Pollock extended his observations about the durability of the system into a general theory of state capitalism. Liberal laissezfaire economics, he argued, had been superseded by monopoly capitalism. This in turn had been replaced by a qualitatively new form of capitalism, characterized by governmental direction. Although the authoritarian regimes of Europe had been the first to introduce extensive controls, the Western democracies, including the United States, were likely to follow. Unlike both earlier stages, state capitalism suspended the free market in favor of price and wage control. — Martin Jay, The Dialectical Imagination, 484

Categorization

• XREF: connects to: Pollock saw capitalist planned economy as viable as socialism by 1930s — Rolf Wiggershaus, The Frankfurt School: Its History,…, 484; Pollock saw state capitalist intervention as a promising new stage already by 1933 — Rolf Wiggershaus, The Frankfurt School: Its History,…, 1156; Pollock’s labeling of the Soviet economy as socialist depended on Bolshevik self-descriptions. — Rolf Wiggershaus, The Frankfurt School: Its History,…, 242