State expenditure in advanced capitalism

Abstract

The current stage of ‘neo-capitalism’ or ‘state monopoly capitalism’ is characterized by a qualitatively expanded role of the state in capitalist social formations.1 One expression of this huge politico-economic weight of the modern state is the prolonged expansion in state expenditures, such that they now exceed one half of gross domestic product in contemporary Britain.2 Yet despite this, there have been only isolated studies by Marxists which systematically examine the causes and consequences of this unprecedented growth.