Abstract

The article analyzes the concept of state monopoly capitalism and its application to the current stage of capitalism in Brazil. The first part surveys the theoretical literature, from Lenin’s original formulation to recent developments bu French and Soviet authors, and sums up the main criticism to the concept. It suggests also the emphasis on the capital internalization process as an alternative analytical approach for the understanding of modern capitalism. In the second part, the article questions those authors who consider that the concept of state monopoly capitalism provides an ade-quate framework for the analysis of Brazilian capitalism.