Today this form predominates in the so-called modern mixed economy based largely on oligarchical multinational corporations with its highly socialized and globalized system of production. In particular, the failed centrally-planned economic systems of the defunct communist bloc nation states are not to be confused with communism as an actually existing mode of production in spite of, or more to the point as a result of, their (failed[6]) realization of central planning. Fredrick Engels hypothesized that state capitalism would emerge as the final form of capitalism before the contradictions reach a point where capitalism cannot sustain itself and socialism emerges as its successor.