"State capitalism is modern day South Korea."
Ummm, no? Do definitions not mean anything to you? Or are we calling all mixed economies state capitalism? Is the UK state capitalist?
Definitions mean something, and so I use them. South Korea is a top down capitalism. The state chose which monopolies they wish to support. The state directs the markets there.
Every government subsidizes their key industries and monopolies. Research US and corn subsidies, telecom monopolies, the UK and the RBS fiasco or the Government Pension Fund of Norway.
Of course. I didn't mean to imply otherwise. I was talking about how South Korean capitalism is different. State directed from the top down to keep the monopolies they back.