Re: [OPE-L] Centralization of capital

From: michael a. lebowitz (mlebowit@SFU.CA)
Date: Fri Feb 17 2006 - 11:51:54 EST

In my 'Theoretical Status of Monopoly Capital', which appeared in the
Resnick and Wolff book, 'Rethinking Marxism' (about 20 years ago) and
coming out again in my "Following Marx: the method of political
economy' (Brill Publishing later this year), I argued that the inner
tendency of capital was its tendency to become One (and that
discussions of centralisation focusing upon horizontal integration
were one-sided since there were as well the inner tendencies of
vertical and conglomerate integration). By this reasoning (textually
supported), the appropriate measure of centralisation is the
proportion of total capital held by a given number of firms.

Michael A. Lebowitz
Professor Emeritus
Economics Department
Simon Fraser University
Burnaby, B.C., Canada V5A 1S6

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