Tag Archives: monopoly capital

The French poet Charles Baudelaire wrote in 1864 that “the cleverest ruse of the Devil is to persuade you he does not exist!” I will argue here that this is directly applicable to today’s neoliberals, whose devil’s ruse is to pretend they do not exist. Although neoliberalism is widely recognized as the central political-ideological project of twenty-first-century capitalism, it is a term that is seldom uttered by those in power. In 2005, the New York Times went so far as to make...

A complement of Thomas Piketty's Capital in the 21st Century. The principal point is that competition is the driver of capitalism as companies strive in the marketplace to achieve efficiency and effectiveness in anticipating and meeting demand. When competition decreases, the engine fails to function as an evolutionary force. This is hardly a new idea. See "What Is Monopoly Capital?" by  John Bellamy Foster and "Monopoly Capitalism" by Paul M. Sweezy. But the authors of The Myth of...

"Is monopolization threatening capitalism?" Facebook, Google, Amazon. ProMarketEditors’ Briefing: This Week in Political Economy (November 11-18) Editors

The inventor of the world wide web warns over concentration of power among a few companies ‘controlling which ideas are shared’ The GuardianTim Berners-Lee: we must regulate tech firms to prevent 'weaponised' web Olivia Solon While the chattering class is obsessing over social media, the deep state is operating behind the scenes. Advanced capitalism leads to corporate statism, the symbiotic relationship between the state and capital, which is the definition of fascism. "It can't...

In The Dialectical Imagination, Martin Jay says that economics was not a central part of Critical Theory, but that several scholars of the Frankfurt School worked in the area. One of the leading economists was Friedrich Pollock, especially after the Institute moved to New York. Like the other scholars of the Institute for Social Research, Pollock was trained in Marxist economics. This school mosttly followed Marx in thinking that capitalism would collapse under the weight of its own...