The Role of State Monopoly Capitalism in the American Empire

“The Role of State Monopoly Capitalism in the American Empire”

by Joseph Stromberg

“With interventionism and restrictionism, the best businessman is he who best knows how to influence in his interest the decisions of the organs of the state (in regard to tariffs, government subsidies or orders, advantageous import quotas, etc.) . . . . What formerly was regarded as a special trait of the munitions industry becomes in interventionist capitalism the general rule. Some have argued that, under such centralized corporate statism, innovation and founding of new enterprises can be so discouraged that, as Jacobs puts it, “there is nowhere to export the embarrassing superfluity of capital except abroad.” The structure of the economy limits domestic investment, thereby promoting aggressive capital export. Simultaneously, monopoly prices foster artificial “surpluses” of specific goods. As the American economy became systematically corporatist, a sense of crisis and stagnation, as well as a desire to further rationalize and perfect the system, strengthened the hand of those who wished to universalize the new political economy through world empire.”

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~ by sovietonion on February 28, 2009.

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