The American Political Economy and Monopoly Capital

Angebote / Angebote:

This work presents the case of the American economy as a repudiation of the two-stage theory of capitalist development advanced by theorists like Hilferding, Steindl and Baran and Sweezy. Various cases from the American economy are presented to contradict the argument that with the emergence oflarge-scale industry competition among capitals is eliminated or highly restricted. The experience of the American automobile industry confirms Marx's argument that competition and the concentration andcentralization of capital are not opposites where the emergence of one entails thedisappearance of the other. The American case also confirms Schumpeterargument that a monopoly position cannot be sustained for anyconsiderable period. The experience of capitalism continues todemonstrate that its "gale ofcreative destruction" is always at work bringing downwhateverbarriers are erected to prevent its expansion.General Motors'battle to enter the high-volume, low-cost marketdominated by Ford is a good example. In the later decades of thetwenty-centuryforeign firms began to compete effectively and tochallenge themarket dominance of the American brands.