The 'globalization' myth, US hegemony, and crisis of capitalism, with Radhika Desai
Geopolitical Economy Report
00:00
The Rise of the Johnny Stock Company
The natural outcome of competition is monopoly says Marx. In the process of competition which always weeds out all the inefficient producers eventually only one or a handful of efficient producers are left standing. What happens within the firm takes place under the authority of the capitalist it is the authoritative division of labour that obtains and so what Marx is saying here is that the that when capitalism arrives that is monopoly firm all the wonderful discipline of competition will no longer be there and the economy will be ripe for takeover.
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