▁mon opol y ▁capital ism ▁ ▁The ▁theory ▁of ▁state ▁mon opol y ▁capital ism ▁was ▁initially ▁a ▁ne o - St alin ist ▁doctrine ▁popular ised ▁after ▁World ▁War ▁II . ▁Len in ▁had ▁claimed ▁in ▁ 1 9 1 6 ▁that ▁World ▁War ▁I ▁had ▁transformed ▁la isse z - f aire ▁capital ism ▁into ▁mon opol y ▁capital ism , ▁but ▁he ▁did ▁not ▁publish ▁any ▁extensive ▁theory ▁about ▁the ▁topic . ▁The ▁term ▁refers ▁to ▁an ▁environment ▁where ▁the ▁state ▁interven es ▁in ▁the ▁economy ▁to ▁protect ▁large ▁mon opol istic ▁or ▁o lig opol istic ▁business es ▁from ▁competition ▁by ▁smaller ▁fir ms . ▁▁ ▁The ▁main ▁principle ▁of ▁the ▁ide ology ▁is ▁that ▁big ▁business , ▁having ▁achieved ▁a ▁mon opol y ▁or ▁cart el ▁position ▁in ▁most ▁mark ets ▁of ▁importance , ▁f uses ▁with ▁the ▁government ▁appar atus . ▁A ▁kind ▁of ▁financial ▁o lig archy ▁or ▁con gl omer ate ▁therefore ▁results , ▁where by ▁government ▁officials ▁aim ▁to ▁provide ▁the ▁social ▁and ▁legal ▁framework ▁within ▁which ▁giant ▁corpor ations ▁can ▁operate ▁most ▁effectively . ▁This ▁is ▁a ▁close ▁partners hip ▁between ▁big ▁business ▁and ▁government ▁and ▁it ▁is ▁argued ▁that ▁the ▁aim ▁is ▁to ▁integrate ▁labour - un ions ▁completely ▁in ▁that ▁partners hip . ▁ ▁State ▁mon opol y ▁capital ist ▁( st am oc ap ) ▁theory ▁a ims ▁to ▁define ▁the ▁final ▁historical ▁stage ▁of ▁capital ism ▁following ▁mon opol y ▁capital ism , ▁consistent ▁with ▁Len in ' s