Hungary is not following a state capitalism model. It is not the state itself that owns most strategic assets, but businessmen close to the party in power, Fidesz. One might say this is closer to the Putyin playbook, creating a class of oligarchs that control the commanding heights of the economy (banks, telecom interests, utilities, highway concessions, waste management, etc.) right down to an enormous network of small to medium-sized enterprises (SME’s). Public assets, such as universities, have been rolled into foundations which are controlled, once again, by parties close to and dependent on Fidesz, for the very long-term, compromising their independence.