![]() Engels argued that state ownership of commercial industry would represent the final stage of capitalism, consisting of ownership and management of large-scale production and manufacture by the state. State ownership was recognized by Friedrich Engels in Socialism: Utopian and Scientific as, by itself, not doing away with capitalism, including the process of capital accumulation and structure of wage labor. Socialist theories and political ideologies that favor state ownership of the means of production may be labelled state socialism. As a form of social ownership, state ownership may be contrasted with cooperatives and common ownership. Proponents assume that the state, as the representative of the public interest, would manage resources and production for the benefit of the public. State ownership is advocated as a form of social ownership for practical concerns, with the state being seen as the obvious candidate for owning and operating the means of production. In traditional conceptions of non-market socialism, public ownership is a tool to consolidate the means of production as a precursor to the establishment of economic planning for the allocation of resources between organizations, as required by government or by the state. There is a wide variety of organizational forms for state-run industry, ranging from specialized technocratic management to direct workers' self-management. In the context of socialism, public ownership implies that the surplus product generated by publicly owned assets accrues to all of society in the form of a social dividend, as opposed to a distinct class of private capital owners. As such, state ownership is only one possible expression of public ownership, which itself is one variation of the broader concept of social ownership. State ownership by itself does not imply social ownership where income rights belong to society as a whole. However, state ownership and nationalization by themselves are not socialist, as they can exist under a wide variety of different political and economic systems for a variety of different reasons. Public ownership of the means of production is a subset of social ownership, which is the defining characteristic of a socialist economy. See also: Social ownership and State socialism ![]() Municipalization is the process of transferring private or state assets to a municipal government. Nationalization is a process of transferring private or municipal assets to a central government or state entity. The state held a monopoly on land and natural resources, and enterprises operated under the legal framework of a nominally planned economy, and thus according to different criteria than enterprises in market and mixed economies. In Soviet-type economies, state property was the dominant form of industry as property. The creation of a state-owned enterprise from other forms of public property is called corporatization. Governments may also use the profitable entities they own to support the general budget. A state-owned enterprise might variously operate as a not-for-profit corporation, as it may not be required to generate a profit as a commercial enterprise in competitive sectors or as a natural monopoly. This form is often referred to as a state-owned enterprise. In market-based economies, state-owned assets are often managed and operated as joint-stock corporations with a government owning all or a controlling stake of the company's shares. Public ownership is one of the three major forms of property ownership, differentiated from private, collective/ cooperative, and common ownership. ![]() Public ownership can take place at the national, regional, local, or municipal levels of government or can refer to non-governmental public ownership vested in autonomous public enterprises. Public ownership specifically refers to industries selling goods and services to consumers and differs from public goods and government services financed out of a government's general budget. State ownership, also called public ownership or government ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. A plaque marking state property in Riga, Latvia
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