Authoritarian capitalism is an economic system where the government maintains significant control over the economy, while allowing private ownership and market mechanisms to operate.
In this model, the state guides economic policies, often favoring specific industries or companies. While individuals may own businesses, the government imposes restrictions, shaping economic activities to align with political goals.
This approach is often associated with certain East Asian countries, where strong central authority and state intervention coexist with elements of market-oriented capitalism.