,COMPETITION & ,MONOPOLY 

,PEOPLE 3 

,AU?OR 3 ,PAUL ,MATTICK 

,TEXT 3 

,PUBLI%$3 ,NEW ,ESSAYS1 VOL4 #f1 NO4 #c4 ,SPR+ #a#i#d#c4 
,TRANSCRIPTION_/,M>KUP3 ,MICAH ,MU]1 #b#b4 

,ALMO/ ?REE YE>S AGO1 DUR+ A ,HE>+ BE=E ! ,TEMPOR>Y ,NATIONAL ,ECONOMIC ,COMMITTEE1 REPRES5TATIVES ( ! ,F$]AL ,TRADE ,COMMISSION DECL>$ ?AT 0! CAPITALI/ SY/EM ( FREE 9ITIATIVE IS QUITE CAPABLE ( DY+ & ( DRAGG+ D[N ) IT ! SY/EM ( DEMOCRATIC GOV]NM5T40 ,MONOPOLY1 !Y SAID1 0CON/ITUTES ! DEA? ( CAPITALISM & ! G5ESIS ( AU?ORIT>IAN GOV]NM5T40.<#a.> ,S9CE !N1 & BECAUSE ( ,AM]ICA'S (FICIAL 5TRY 9TO ! W>1 ! DISCUSSION >\ND ! MONOPOLY QUE/ION HAS CALM$ D[N CONSID]ABLY4 ,AS F> AS PUBLIC 9T]E/ IS CONC]N$ ! ,T,N,E,C HAS SEEM+LY LABOR$ 9 VA94 ,?IS IS NOT AT ALL SURPRIS+4 ,CONTR>Y TO ! PROPAG&A ( DESPAIR ?AT HAD BE5 RELEAS$ BY ! LIB]AL BUS9ESS WORLD :I* ASS]T$ AMONG O!R *>GES ?AT ! MONOPOLI/IC RE/RICTION ( \TPUT W\LD 0IMPAIR DEMOCRACY'S ABILITY TO DEF5D ITSELF 9 TIMES ( W>10.<#b.> PRODUCTION HAS BE5 EXP&$ TO A REM>KABLE DEGREE4 ,& ?IS HAS BE5 MADE POSSIBLE NOT BY LIMIT+ BUT BY /R5G!N+ ! P[] ( ! MONOPOLIES & BY ! FUR!R CONC5TRATION ( ECONOMIC & POLITICAL P[] 9 ! H&S ( ! GREATE/ ( ALL MONOPOLIES - ! GOV]NM5T4 

,! GOV]NM5T :I*1 ACCORD+ TO TRADITIONAL IDEOLOGY1 /&S ABOVE SOCIAL FACTIONS & SEP>ATE 9T]E/S1 WAS TO DE/ROY ! MONOPOLIES1.<#c.> BU/ ! TRU/S1 & HELP ! 0LITTLE MAN0 RE/ORE FAIR COMPETITION 9 ORD] TO FO/] ECONOMIC MOBILITY & ?US SOCIAL /ABILITY4 ,& IT DID BREAK ! ECONOMIC /AGNATION BUT NOT ITS ALLEG$ CAUSE1 ! MONOPOLIES4 ,IT DID RE/ORE A SORT ( 9T]NATIONAL COMPETITION BY WAY ( W> :I*1 H[EV]1 L$ TO ! FUR!R RE/RICTION ( COMPETITION AT HOME4 0,BY ! AID ( W> CONTRACTS & O!R ASSI/ANCE FROM ! ,F$]AL ,GOV]NM5T1 ! L>G] COMPANIES 9 VIRTUALLY EV]Y 9DU/RY >E ASSUM+ GREAT] IMPORTANCE1 :ILE ! SMALL UNITS >E BE+ =C$ GRADUALLY \T ( BUS9ESS OR ASSUM+ A LESS] ROLE40.<#d.> ,?US EV5 ! PR(ESSIONAL TRU/-BU/]1 ,?URMAN ,W4 ,>NOLD1.<#e.> :O CLAIMS TO BELIEVE ?AT ! MONOPOLY ISSUE MAY BE SOLV$ BECAUSE ( ! 0FULL PRODUCTION COMPELL$ BY W>0 & ! 0POT5TIAL 9CREASE TO NATIONAL WEAL? BY A NEW RELEASE ( PRODUCTIVE 5]GY10 F9DS HIMSELF =C$ TO MAKE ! AM5DM5T - 0PROVID$ PRODUCTION DOES NOT FALL 9TO A FEW H&S ) P[] TO %UT IT (F40 ,HIS OPTIMI/IC EXPECTATION IS BAS$ ON ! ASS]TION ?AT 0NO MONOPOLY CAN MA9TA9 ITS CONTROL OV] PRICES 9 ! FACE ( A SURPLUS :I* IT DOES NOT CONTROL40 ,BUT 9 REALITY1 !RE >E NO OB/ACLES TO CONTROLS ( ALL K9DS1 9CLUD+ ?AT ( PRICE1 & 9 ! FACE ( ALL K9DS ( SURPLUSES4 ,AT ANY RATE1 IF !RE %\LD BE AN 0UNCONTROLL$ SURPLUS0 IT WILL BE UNCONTROLL$ BY EXI/+ MONOPOLIES ONLY BECAUSE IT WILL BE CONTROLL$ BY ! /RONG] /ATE-MONOPOLY4 

,H[EV]1 !RE WILL BE NO SURPLUS4 ,!RE WILL BE1 9/EAD1 DET]IORAT$ PRODUCTIVE APP>ATUS & DILAPIDAT$ MANP[] = :I* ! NEWLY DEVELOP$ TE*NIQUES & ORGANIZATIONS ( PRODUCTION1 AS WELL AS ! NEW CAPACITIES ( ! ADDITIONAL WORK]S DRAWN 9TO PRODUCTION1 WILL BE ONLY SMALL COMP5SATION4 ,! PRES5T IMP]IALI/IC EXPANSION ( PRODUCTION IS EXT5SION = DE/RUCTIVE PURPOSES4 ,NOT AT ONCE1 BUT 9 ! LONG RUN1 ?IS K9D ( EXPANSION RESULTS 9 ! SAME SITUATION :I* IS PRESUMABLY CREAT$ BY ! \TPUT RE/RICTION ( MONOPOLIES4 ,! POPULATION CAN BE IMPOV]I%$ & ITS LABOR WA/$ BY ! EXPANSION AS WELL AS BY ! RE/RICTION ( PRODUCTION4 ,ALL ! 9V5TIONS1 ALL ! 9CREASES 9 PRODUCTIVITY & NEW PRODUCTIVE PROCESSES ( ! FIR/ ,WORLD ,W>1 = 9/ANCE1 DID NOT AFFECT ! P]MAN5CY ( ! CAPITALI/ CRISIS & DID NOT IMPROVE ! LIV+ CONDITIONS ( ! MASS ( ! WORLD POPULATION4 

,AL?\< IMPROBABLE1 IT MAY BE POSSIBLE TO PRODUCE OBJECTIVES & IMPLEM5TS ( W> FA/] ?AN !Y CAN BE DE/ROY$ SO ?AT A FAVORABLE BALANCE IS GA9$ AT ! 5D ( ! HO/ILITIES4 ,YET ?IS BALANCE W\LD MAKE POSSIBLE ! RESUMPTION ( W>1 IT C\LD NOT BE A BASIS = IMPROV+ SOCIAL CONDITIONS4 ,! LATT] DEP5D NOT ONLY ON PRODUCTION BUT ALSO ON ! K9D ( GOODS PRODUC$4 ,! >GUM5TS ?AT /RESS ! POSSIBILITY ( A QUICK REV]SAL FROM W> TO PEACE PRODUCTION OV]LOOK ! FACT ?AT UND] MOD]N CONDITIONS ALL PEACE PRODUCTION IS NECESS>ILY PRODUCTION = W>4 ,AMONG ,ROOSEVELT'S 0,CONDITIONS ( ,PEACE0 ?AT ( ! 0,DIS>MAM5T ( ,ALL ,5EMY ,NATIONS10 = 9/ANCE1 IMPLIES ! 0,POLIC+ ( ! ,WORLD0 BY ! >M$ VICTORS & ?US ! IMPOSSIBILITY ( REV]T+ TO ?AT LIMIT$ W> PRODUCTION USUALLY CALL$ PRODUCTION = PEACE4 ,MA9T5ANCE ( ! PEACE CAN ONLY MEAN ?AT ! VICTORS GA9 & SECURE !IR MONOPOLY ( >MS4 ,9ESCAPABLY1 A PROGRESSIVELY 9CREAS+ P>T ( !IR TOTAL PRODUCTION WILL HAVE TO BE DEVOT$ TO DE/RUCTIVE 5DS4 

,ASIDE FROM ?IS1 ! V]Y NATURE ( CAPITAL PRODUCTION ITSELF PRECLUDES ! POSSIBILITY ( PRODUC+ AT WILL OR 0ACCORD+ TO PLAN40 ,NEI!R ! 9DIVIDUAL 5TREPR5EUR1 ! MONOPOLI/1 NOR ! GOV]NM5T CAN DECIDE :AT & :AT NOT TO PRODUCE4 ,:E!R !Y KN[ IT OR NOT1 ALL !IR DECISIONS >E DET]M9$ NOT BY !IR WILL TO S]VE !MSELVES & SOCIETY1 BUT >E =C$ UPON !M BY ! DEVELOPM5T ( CAPITAL & ! SOCIAL FRICTIONS CONNECT$ !RE)4 ,ALL POSITIVE EXPECTATIONS CONNECT$ ) ! 9CREASE ( PRODUCTION & PRODUCTIVITY BY WAY ( W> >E BAS$ ON ! ILLUSION ?AT ! CAPITALI/ SY/EM MAY BE REGULAT$ CONSCI\SLY1 ON ! FALSE NOTION ?AT ?OSE PEOPLE :O DECL>E W> MAY ALSO ASSURE PEACE2 ?AT ?OSE :O PRESIDE OV] ! *AOS ( DE/RUCTION MAY ALSO BR+ AB\T ABUNDANCE = ALL4 ,TO US1 H[EV]1 :O PROCE$ FROM ! PECULI> LAWS :I* DET]M9E CAPITALI/ DEVELOPM5T1 ! PRES5T RE/RICTION ( ! SOCIAL =CES ( PRODUCTION BY WAY ( ! PROGRESSIVE DE/RUCTION ( M5 & MAT]IALS SEEMS RA!R LIKE ! ACTION ( A SUICIDE :O1 9/EAD ( SIMPLY />V+ TO DEA?1 LABOR\SLY CON/RUCTS HIMSELF A DEA?LY CONTRAPTION = HIS F9AL PLUNGE 9TO ! NI<T UN5D+4 

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,! DISCUSSIONS >\ND ! MONOPOLY PROBLEM >E UNREALI/IC BECAUSE ! PRES5T W> IS A W> BETWE5 MORE OR LESS MONOPOLI/ICALLY DEVELOP$ NATIONS4 ,! TRANS=MATION FROM A /ATE ( 0IMP]FECT COMPETITION0 TO ! DOM9ANCE ( MONOPOLIES HAS LONG S9CE BE5 ACCOMPLI%$4 ,! CURR5T IDEAS & !ORIES 9 ?IS RESPECT DEAL AWKW>DLY ) ! PA/4 ,! W> MAKES ! WORLD CONSCI\S ( ?IS FACT2 IT ALSO REMOVES ! LA/ REMNANTS ( ! OLD LAISSEZ FAIRE /RUCTURE4 ,& YET1 ?\< IT APPE>S AS IF SOME?+ NEW HAS EVOLV$1 :AT IS REALLY NEW CONC]NS ONLY ! =M NOT ! SUB/ANCE ( CAPITALISM4 

,CAPITALISM IS NOT P>TICUL> AS TO :AT =M IT ASSUMES4 ,ITS G5ESIS & PREVI\S DEVELOPM5T1 H[EV]1 EXCLUDE ! POSSIBILITY ( A VICTORY ( ! =CES ( 0COMPETITION0 OV] ?OSE ( 0MONOPOLY40 ,! PA/ CANNOT BE RESURRECT$4 ,! /RUGGLE BETWE5 LAISSEZ FAIRE & MONOPOLY1 FUR!RMORE1 WAS NOT A FI<T BETWE5 ADH]5TS ( OPPOS+ ECONOMIC PR9CIPLES1 BUT SIMPLY ! ACTUAL UNFOLD+ ( CAPITALISM1 DIFF]5TLY DESCRIB$ BY DIFF]5TLY AFFECT$ 9T]E/S4 ,! VICTORS W]E ALWAYS TEMPOR>Y MONOPOLI/S NO MATT] H[ COMPETITIVELY !Y BEHAV$2 ! LOS]S M]ELY LAM5T$ ?IS FACT4 ,! PRES5T /RUGGLE BETWE5 MONOPOLY CAPITALISM & TOTALIT>IANISM IS A CONT9UATION ( ! PREVI\S /RUGGLES BY :I* ! =M ( CAPITALISM IS ALT]$4 

,FROM ITS V]Y BEG9N+ CAPITALISM WAS ALWAYS BO? MONOPOLI/IC & COMPETITIVE4 ,ONE GR\P 9 SOCIETY HAD ! MONOPOLY ( ! MEANS ( PRODUCTION4 ,IT DID NOT 0COMPETE0 ) ?OSE :O HAD NONE1 BUT EXPLOIT$ !M4 ,IT WAS COMPETITIVE AGA9/ O!R MONOPOLI/S4 ,CLASS RELATIONS1 IMPLY+ MONOPOLISM1 EXCLUDE NONCOMPETITIVE CONDITIONS4 ,IDEOLOGIES =M$ BY CLASS RELATIONS EXCLUDE ! SPREAD+ ( NONCOMPETITIVE CONCEPTIONS4 ,?US IT SEEMS TO ALMO/ EV]YBODY ?AT COMPETITION IS D]IV$ FROM 0HUMAN NATURE40 ,! 0NATURAL COMPETITIVE APTITUDE0 SUPPOS$LY TRANSC5DS & OV]P[]S ALL SOCIAL & ECONOMIC *ANGES4 ,IT IS TO BE UTILIZ$ = ! WELF>E ( SOCIETY JU/ LIKE ANY O!R NATURAL =CE4 ,! MORE WIDELY SPREAD COMPETITION 9 ! E>LY /AGES ( 9DU/RIAL CAPITALISM1 DUE TO ! GREAT] NUMB] ( CAPITALI/S %>+ 9 A SMALL] MASS ( CAPITAL1 WAS ?\<T TO B5EFIT SOCIETY4 ,9 ASS]T+ ITSELF ! COMPETITIVE EGO SUPPOS$LY BR\<T AB\T ! MO/ ECONOMICAL >RANGEM5T ( ! PRACTICAL SOCIAL LIFE4 ,?IS IDEOLOGY1 SE5 AS A UNIV]SAL TRU?1 CORRESPOND$ TO ! 9T]E/S ( A SMALL P>T ( ! WORLD ?AT RUL$ ALMO/ ALL ( IT - TO A LIMIT$ GR\P 9 SOCIETY ?AT MONOPOLI/ICALLY DOM9AT$ ! :OLE4 

0,COMPETITIVE SOCIETY0 9 ! S5SE 9 :I* IT IS TODAY DEF5D$ BY W\LD-BE TRU/-BU/]S & ANTI-FASCI/S NEV] EXI/$ 9 REALITY4 ,ITS PLACE WAS 9 ! ME?ODOLOGY ( ECONOMIC !ORY :I* ITSELF WAS M]ELY A PHASE ( TRADITIONAL IDEOLOGY4 ,! !ORY ( COMPETITION HAD BE5 DIRECT$ AGA9/ 9T]F]5CES BY UNDEFEAT$ P[]S ( ! PA/4 ,ORIG9ALLY IT REFUS$ TO S]VE O!R FUNCTIONS ?AN ?AT ( GLORIFY+ ! ABS5CE ( !ORY 9 ! PRACTICAL SOCIAL LIFE4 ,) ! F9AL DEFEAT ( FEUDALISM1 ECONOMY C\LD ONLY S]VE DESCRIPTIVE FUNCTIONS BECAUSE ( COMPETITION :I*1 SUPPOS$LY1 AUTOMATICALLY REGULAT$ SUPPLY & DEM&1 H>MONIZ$ VALUE & PRICE1 & W\LD BE ! MORE 0ECONOMICAL0 ! LESS ONE TRI$ TO DEAL ) IT4 

,NOT TO D5Y ! USEFULNESS ( !ORETICAL MODELS1 IT IS NEV]!LESS TRUE ?AT ?OSE ( ! PR(ESSIONAL ECONOMI/S :O CONC]N$ !MSELVES ) COMPETITION ANALYSIS 9 /ATIC T]MS & CLOS$ SY/EMS W]E 5TIRELY USELESS = UND]/&+ & 9FLU5C+ ! REAL WORLD4 ,H[EV] +5I\SLY CON/RUCT$1 !RE NEV] WAS ! SLI<TE/ RESEMBLANCE BETWE5 ! DIFF]5T ECONOMIC MODELS & ! DEVELOP+ REALITY4 ,! EQUATIONS ( ! COMPETITIVE MODELS :I* E/ABLI%$ ECONOMIC EQUILIBRIUMS C\LD NOT S]VE AS ! 0IDEAL0 TO :I* LAISSEZ FAIRE ECONOMY C\LD OR %\LD ASPIRE1 NOR AS ! 0IDEAL0 :I* MONOPOLI/IC COMPETITION LEFT SO F> BEH9D4 ,NOR YET AS !ORETICAL Y>D/ICKS ) :I* TO MEASURE ! EXT5T ( ! DIV]SIONS ?AT ! AUTOMATIC COMPETITIVE REGULATION MI<T SUFF]1 ?US ?R[+ LI<T UPON ! NECESS>Y C\NT] MEASURES 9 ORD] TO REA* A BETT] APPROXIMATION ( ! 0IDEAL40 

,!RE WAS ONLY ! HI/ORICAL FACT ?AT SOME BECAME CAPITALI/S SOON] ?AN O!RS1 ?AT SOME AMASS$ MORE CAPITAL ?AN O!RS1 & ?AT SOME W]E MORE FAVORABLY AFFECT$ BY SOCIAL & ECONOMIC *ANGES ?AN O!RS4 ,!RE WAS ONLY ! FACT ( ! REL5TLESS G5]AL SCRAMBLE = ! L>GE/ PR(ITS POSSIBLE1 REPEAT$ 9 ALL ! SUBDIVISIONS ( ! SOCIALLY CREAT$ SURPLUS VALUE1 & ! FEEBLE ATTEMPTS ON ! P>T ( ! WORK]S TO GET ! HI<E/ POSSIBLE WAGES4 ,ACTUAL OCCUR5CES MADE IMMAT]IAL ! ASSURANCES ( ECONOMI/S ?AT ! COMPETITIVE SY/EM MU/ ONLY BECOME REALLY COMPETITIVE TO BE ! P]FECT SY/EM4 ,! 9CONSI/5CY ( ! ,NEO-,CLASSICI/S' ATTEMPT TO 0LE>N ! SECRETS ( ! M>KET0 9 ORD] TO IMPROVE SOCIAL CONDITIONS WAS M]ELY AN 9DICATION ?AT !Y RECOGNIZ$ ! CON/ANT WID5+ ( ! ALWAYS EXI/+ GAP BETWE5 REALITY & ECONOMIC !ORY4 ,= DESPITE ALL COMPETITION1 LAISSEZ FAIRE ECONOMY WAS PROGRESSIVELY 0DISRUPT$0 BY MONOPOLI/IC & /ATE 9T]F]5CES :I*1 9 VIEW ( ! TRADITIONAL CONVICTIONS AS TO ! WOND]-WORK+S ( ! M>KET1 W]E 9 GREAT NE$ ( RATIONALIZATION4 

,( C\RSE ! PROCESS ( CAPITALI/ PRODUCTION & DI/RIBUTION MI<T BE DESCRIB$ AS A COMPETITIVE PROCESS4 ,WAGE DIFF]5TIATIONS1 TOO1 ALL[ = COMPETITIVE PROC$URES )9 ! WORK+ CLASS4 ,) ! P>TICUL> MEANS AT HIS DISPOSAL1 EA* ONE TRIES TO GET AS MU* AS POSSIBLE ( ! RESULTS ( SOCIAL LABOR4 ,BY =CE ( CIRCUM/ANCES1 ! /RUGGLE ( 9DIVIDUALS IS1 AT ! SAME TIME1 A /RUGGLE ( GR\PS1 ORGANIZATIONS1 CLASSES4 ,?IS COMPETITION1 H[EV]1 DOES NOT RESULT 9 ! EQUATIONS ( ,ADAM ,SMI? NOR 9 ?OSE ( ! MOD]N ECONOMI/S4 ,ON ! CONTR>Y1 ! FI]C] ?IS COMPETITIVE /RUGGLE1 ! GREAT] ! 9EQUALITIES & DISPROPORTIONALITIES ?AT =M ! BASE ( ! :OLE CAPITALI/ /RUCTURE4 

,SOME FIFTY YE>S AGO !RE EXI/$ 9 ! HI<LY DEVELOP$ NATIONS LESS CAPITAL CONC5TRATION & !RE=E LESS MONOPOLIZATION ?AN IS EVID5T TODAY4 ,9 ! WORLD AT L>GE1 H[EV]1 ! MORE COMPETITIVE ECONOMIES W]E HI<LY MONOPOLI/IC BY VIRTUE ( ! CONC5TRATION ( 9DU/RY 9 A FEW C\NTRIES4 ,) ! SPREAD+ ( CAPITALISM COMPETITION BECAME AS FI]CE ON ! WORLD M>KET AS PREVI\SLY IT HAD BE5 ONLY 9 ! E>LY 9DU/RIAL C5T]S4 ,) ! EXT5SION ( ! COMPETITIVE PROCESS1 W> & DIRECT APPROPRIATION W]E EMPLOY$ 9 ADDITION TO ! 0PEACEFUL0 COMPETITIVE MEANS ( 9CREAS+ EXPLOITATION & PR(ITABILITY ?R\< ! GR[? ( ! PRODUCTIVITY ( LABOR MADE POSSIBLE BY ! TE*NICAL CONCOMITANT ( CAPITAL ACCUMULATION4 ,?IS L$1 9 TURN1 TO ! SPREAD+ ( MONOPOLIZATION AS PREVI\SLY COMPETITION HAD BE5 SPREAD BY EXI/+ MONOPOLIES4 

,! MEANS ( COMPETITION HAVE QUANTITATIVELY GR[N ) ! GR[? ( PRODUCTION1 ! EXT5SION ( CAPITALISM 9 SPACE1 & ! GR[+ DIFF]5TIATION ( FUNCTIONS )9 ! SOCIO-ECONOMIC /RUCTURE4 ,BUT ! 5D REMA9S ! SAME2 ! P[] ( SOME 9DIVIDUALS & AG5CIES IS BROK5 9 FAVOR ( O!RS4 ,FIR/1 COMPETITIVE BUS9ESS IS MONOPOLI/IC & BECOMES 9CREAS+LY SO BY WAY ( COMPETITION4 ,MONOPOLY COMPETES AGA9/ COMPETITIVE BUS9ESS & AGA9/ MONOPOLIES4 ,! GOV]NM5T SUP]S$ES BO? MONOPOLY & COMPETITIVE BUS9ESS BY ITS GREAT] /R5G? & COMPETES ) MORE & MORE P[]FUL MEANS1 9T]NALLY & EXT]NALLY1 = CONTROL OV] M5 & RES\RCES4 ,COMPETITION 9 ?IS S5SE DOES NOT CEASE EV5 IF 0COMPETITIVE SOCIETY0 DISAPPE>S4 

,TODAY ! CONVICTION GR[S ?AT NOT COMPETITION BUT 0PLANN+0 WILL 9SURE SOCIAL WELF>E4 ,YET ?IS 0PLANN+01 TOO1 9VOLVES COMPETITIVE PROCESSES4 0,)9 ! SPH]E ( COLLECTIVE 5T]PRISE10 WRITES ! ,LONDON ,ECONOMI/.<#f.>1 0! NE$ = COMPETITION IS EV5 GREAT]0 ?AN 9 ! SPH]E ( PRIVATELY-[N$ BUS9ESS4 ,! /RUGGLE = P[]1 9VOLV+ ECONOMIC CONTROL1 REMA9S A COMPETITIVE /RUGGLE 9 MONOPOLI/IC SOCIETY4 ,EV5 UND] CONDITIONS ( AN IMAG9$ S+LE WORLD-MONOPOLY BAS$ ON CLASS RELATIONS1 COMPETITION W\LD CONT9UE4 ,IT W\LD BE A G5]AL COMPETITIVE /RUGGLE = POSITIONS EV]Y:]E )9 ! HI]>*ICAL SET-UP4 

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,! PREVI\S PREOCCUPATION ( ECONOMI/S ) COMPETITION & !IR PRES5T PREOCCUPATION ) MONOPOLY EXPLA9S ITSELF BY !IR PREOCCUPATION ) ! DI/RIBUTIVE SIDE ( CAPITALISM4 ,! SUB/ANCE ( CAPITALISM - ! EXPLOITATION ( LABOR = ! POSSESSORS OR CONTROLL]S ( ! MEANS ( PRODUCTION - CAN BE DISCOV]$ ONLY 9 ! SOCIAL PRODUCTION RELATIONS4 ,AS !IR ET]NITY IS ALWAYS TAK5 = GRANT$1 ! SUB/ANCE ( CAPITALISM IS NO:]E *ALL5G$4 ,ALL CAPITALI/ *ANGES DID NOT AFFECT ! SUB/ANCE ( CAPITALISM BUT REF]R$ SOLELY TO WAYS & MEANS BY :I* ! SURPLUS VALUE IS DI/RIBUT$4 ,TO BE SURE1 ! FACT ?AT ! PRODUCTION ( SURPLUS VALUE ITSELF C\LD BE ! REASON = ALL PECULI> ECONOMIC PH5OM5A ?AT >ISE )9 ! CAPITALI/IC DEVELOPM5T1 CANNOT BE MADE ! SUBJECT ( 9VE/IGATION )\T *ALL5G+ ! RUL+ CLASSES4 ,IT IS = ?IS REASON ?AT CAPITALI/ ECONOMY CONC]NS ITSELF ALMO/ EXCLUSIVELY ) QUE/IONS ( 0DEM&0 & ) 0M>KET LAWS40 ,IT ALSO EXPLA9S :Y ! 0LAWS ( M>KET0 >E N[ RESURRECT$ 9 ! SO-CALL$ 0PLANN$ ECONOMIES40 

,! LIMITATIONS ( ! ,CLASSICI/S ,M>X BR\<T TO LI<T ) HIS CLASS /RUGGLE !ORY 9 BO? ITS PHILOSOPHICAL & ECONOMIC =M4 ,9 ! C\RSE ( ITS DEVELOPM5T CAPITALISM ITSELF DE/ROY$ ITS E>LY LABOR !ORY ( VALUE4 ,IT C\LD NO LONG] FACE ?AT TRU? IT CONCEIV$ 9 ITS !ORETICAL FI<T AGA9/ ! P]SI/5CIES ( FEUDALISM4 ,!ORIES W]E N[ CON/RUCT$ TO PROVE ! VALUE-CREAT+ P[] ( CAPITAL & ITS POSSESSORS4 ,AT ! SAME TIME SUBJECTIVE VALUE CONCEPTS ATTEMPT$ TO DO AWAY ) ALL CLASS CONSID]ATIONS 9 ECONOMIC !ORY4 0,SUPPLY0 & 0CO/0 MADE ROOM = 0DEM&0 & 0UTILITY40 

,9 MOD]N ECONOMICS 0VALUE0 REF]S TO ! RATE ( EX*ANGE BETWE5 USEFUL & SC>CE COMMODITIES4 ,EXPRESS$ 9 MONEY T]MS IT IS EQUAL TO PRICE4 ,?IS1 ( C\RSE1 EXPLA9S NEI!R VALUE NOR PRICE4 ,TO ESCAPE ! TAUTOLOGY1 ! PR9CIPLES ( DIM9I%+ & M>G9AL UTILITY.<#g.> >E CALL$ UPON4 ,SMALL 9CREM5TS & DECREM5TS 9 ! UTILITY ( A COMMODITY >E ?\<T TO BE ( PRIME IMPORTANCE 9 VALUE DET]M9ATION4 ,CONSUM]S >E BELIEV$ TO COMP>E ! M>G9AL OR F9AL DEGREE ( UTILITY ( DIFF]5T GOODS :5 *OOS+ ONE OR ANO!R COMMODITY ON ! M>KET4 ,9 ?IS WAY !Y >E SUPPOS$LY DET]M9+ EX*ANGE VALUES & ?US ! ALLOCATION ( RES\RCES4 ,! ME*ANISM ( ! !ORY HAS BE5 EXT5D$ FROM DEM& TO PRODUCTION1 PRODUCTIVITY1 SAV+1 R5T1 9T]E/1 PR(ITS & WAGES4 ,! 5DEAVOR WAS BR\<T TO LEAD TO ! DISCOV]Y ( ! REASONS = ! *ANGES ( ACTUAL M>KET VALUES4 ,IT 9CORPORAT$ ALSO AN ATTEMPT TO UTILIZE ! ME?ODS & F9D+S ( ! NATURAL SCI5CES 9 ECONOMIC !ORY4 ,! LATT] BECAME MA!MATICAL & ANALOG\S TO ME*ANICS & MOD]N PHYSICS4 

,BECAUSE 9 ?IS !ORY ! UTILITY ( A GOOD IS D]IV$ FROM ! 9T5SITY DEGREE ( ITS WANT-SATISFY+ ABILITY1 IT (F]S NO CONCRETE SCI5TIFIC /&>D TO MEASURE UTILITIES4 ,IT IS = ?IS REASON ?AT MANY ECONOMI/S AB&ON$ ! UTILITY-VALUE CONCEPT ALTOGE!R & RE/RICT$ !MSELVES TO ! M]E CONSID]ATION ( PRICE4 ,O!RS TRI$ TO GIVE ! CONCEPT A MORE CONCRETE MEAN+ BY WORK+ ) PREF]5CE SCALES & PRICE S*$ULES D]IV$ FROM OBS]VABLE M>KET ACTIONS4 ,BUT ! FACT ?AT 09DIVIDUAL DESIRES0 SEEM TO EXPRESS !MSELVES 9 OBS]VABLE *OICES ON ! M>KET DOES NOT EXPLA9 ! REAL REASONS = !SE *OICES1 NOR ANY?+ ELSE ( IMPORTANCE = ! UND]/&+ ( ! ECONOMY4 ,?\< CONCEIV$ AS A !ORETICAL BASE = ACTUAL PROC$URES 9 ! ECONOMIC SPH]E1 ALL !SE 5DEAVORS F9D !IR MO/ IMPORTANT REASONS 9 ! APOLOGETIC NATURE ( ECONOMIC !ORY4 ,ALL 0PROGRESS0 MADE 9 ?IS FIELD RELATES ONLY TO =M - ! REF9EM5T ( COMPETITION ANALYSIS4 ,:5 IT COMES TO ! REAL ECONOMIC PROBLEM MOD]N ECONOMICS HAS NOT MADE ONE /EP =W>D S9CE ,ADAM ,SMI?4 ,IT /ILL PROCE$S FROM ! FALSE ASSUMPTION ?AT ECONOMICS IS ! PROBLEM ( ! EQUALIZATION ( ! 9T]E/S & DESIRES ( 9DIVIDUALS1 REALIZ$ BY ! COMPETITIVE PROCESS ?AT BR+S AB\T AN EQUILIBRIUM BETWE5 SUPPLY & DEM&1 CO/ & PRICE1 & ! MO/ ECONOMICAL ALLOCATION ( RES\RCES4 ,( C\RSE1 )9 ! AB/RACT FRAMEWORK ( !ORIES ?AT CONC]N$ !MSELVES ) NON-EXI/+ EQUILIBRIUMS1 UNV]IFIABLE M>G9S1 & UNEXPLA9$ PRICES ALL & NO?+ C\LD BE PROV$4 ,ALL SORTS ( PLAYS ) MA!MATICAL QUANTITIES C\LD BE >RANG$ = & ANY?+ DESIR$ BE E/ABLI%$ IF ONE /UCK LOSE TO ! PO/ULAT$ RULES ( ! 9V5T$ GAME4 ,! COMPLETE ALI5ATION ( ECONOMIC !ORY FROM ITS REAL BASE HAD BE5 A*IEV$4 

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,AL?\< ECONOMIC !ORY HAS NO RELATION TO REALITY1 *ANGES 9 ! LATT] NEV]!LESS 5=CE NEW =MULATIONS ( EXI/+ ECONOMIC AB/RACTIONS SO ?AT !Y MAY CONT9UE TO S]VE APOLOGETIC PURPOSES4 ,AT PRES5T ECONOMIC !ORY SUPPOS$LY F9DS ITSELF BACK ON ! ROAD TO REALITY4 ,?IS ATTEMPT 9VOLVES AN OV]-LAPP+ & H>MONIZ+ ( ! V>I\S DOCTR9ES ?AT SPLIT UP ! ECONOMIC S*OOLS4 ,! PROCESS1 LONG 9 EVID5CE1 />T$ ) ! ADAPTATION ( M>G9AL PR9CIPLES BY ! ,NEO-,CLASSICAL S*OOL4 ,MANY MOD]N VALUE !ORI/S >E N[ READY TO SUPPLEM5T 0PURE ECONOMICS0 ) HE 0SOCIOLOGICAL0 APPROA* ( ! ,9/ITUTIONALI/S4 ,! 0MICROSCOPIC0 TE*NIQUES ( 0PURE ECONOMICS0 >E TO BE RE9=C$ ) 0MACROSCOPIC0 >GUM5TS CONC]N+ SOCIAL & POLITICAL P]SPECTIVES ( TODAY4 ,YET1 AS AT ALL TIMES BE=E1 SO N[1 TOO1 9 REG>D TO CLASS & PROP]TY QUE/IONS1 MOD]N ECONOMI/S MA9TA9 A 0NEUTRAL0 ATTITUDE4 

,BY !IR EXT5SIVE CONSID]ATION ( ACTUAL PRICE-SETT+ PRACTICES1 IT C\LD NOT ESCAPE ! ECONOMI/S ?AT ! ASSUMPTION ?AT PRICES >E DET]M9$ BY 9DIVIDUALS DEAL+ 9 A HI<LY COMPETITIVE M>KET WAS NOT JU/IFI$ AT ALL4 ,! 09DIVIDUAL COMPETITOR01 FUR!RMORE1 WAS NOT ! SMALL 9DIVIDUAL PROPRIETOR ( TRADITIONAL ECONOMIC LIT]ATURE1 BUT RA!R ! L>GE QUASI-MONOPOLI/IC CORPORATION4 ,PRICE1 !Y DISCOV]$1 WAS A 0HI<LY ELUSIVE ?+40 ,IT HAD (T5 NO CONNECTION :ATEV] ) ! *ANGES 9 CO/ & PR(IT CONDITIONS4 ,IT BECAME MORE & MORE OBVI\S ?AT ! COMPETITIVE ASSUMPTIONS HAD NO RELATION TO FACTS4 ,! M>KET PRICE !ORI/S F\ND !MSELVES =C$ TO CONSID] ! IMP]FECTION ( COMPETITION & TO CONSID] IT DIFF]5TLY ?AN HAD BE5 DONE PREVI\SLY BECAUSE ( ! RUL+ ASSUMPTION.<#h.> ?AT ! ECONOMY WAS ALWAYS T5D+ T[>DS AN EQUILIBRIUM BETWE5 SUPPLY & DEM&1 CO/ & PRICE1 M>G9AL CO/ & AV]AGE PRICE1 AV]AGE CO/ & M>G9AL REV5UE1 & SO =?4 ,! !ORY ( PURE & P]FECT COMPETITION MADE ROOM = ?AT ( MONOPOLI/IC COMPETITION4 ,& AS PREVI\SLY 9 REG>D TO VALUE & PRICE1 H]E1 TOO1 ECONOMIC ?\<T SPLIT 9TO TWO FACTIONS3 ?OSE :O BELIEVE ?AT ! PO/ULATES ( ! OLD COMPETITION !ORY MAY /ILL BE USEFUL 9 ! 9VE/IGATION ( MONOPOLI/IC REALITY1 & ?OSE :O SIMPLY DEAL ) ! LATT] )\T BO!R+ TO RECONCILE IT ) ! TRADITIONAL ASSUMPTIONS4 

,! ,GREAT ,DEPRESSION BR\<T ! MONOPOLY ISSUE 9TO ! SPH]E ( POLITICS & =C$ ! ECONOMI/S TO DEAL ) IT 9 A MORE S]I\S MANN]4 ,YET1 ! OLD IDEA ?AT ! PRICES E/ABLI%$ UND] CONDITIONS ( A FREE M>KET HAVE ! T5D5CY TO MAXIMIZE UTILITY = ALL CONC]N$ WAS NOT REALLY REJECT$4 ,RA!R1 ON ! BASIS ( ?IS ]RONE\S ASSUMPTION IT WAS N[ >GU$ ?AT ?IS SORT ( PRICE =MATION HAD BE5 MADE IMPOSSIBLE BECAUSE ( MONOPOLIZATION4 ,CONSEQU5TLY1 ALL ?AT W\LD BE NECESS>Y WAS TO RESURRECT A K9D ( COMPETITION :I* 9SURES PRICE FLEXIBILITY4 ,ALL ECONOMIC EVILS W]E N[ BLAM$ ON MONOPOLY & ! PRICE RIGIDITY SUPPOS$LY CONNECT$ ) IT4 ,FROM ! ,PRESID5T D[N TO ! LEFT-W+ AGITATOR1 CONC5TRATION & MONOPOLIZATION W]E MADE RESPONSIBLE = ! ECONOMIC /AGNATION4 ,CONC5TRATION1 9 ! DEF9ITION ( ! ECONOMI/S A 0SITUATION 9 :I* ! NUMB] ( SELL]S IS TOO FEW = PURE COMPETITION BUT TOO MANY = COMPLETE MONOPOLY01 WAS ?\<T TO RESULT 9 PRICES TO BUY]S HI<] ?AN ?OSE NECESS>Y TO CALL =? SUPPLIES4 

,AMONG O!RS IT WAS ESPECIALLY ,DR4 ,G>D9] ,C4 ,MEANS.<#i.> :O ADVOCAT$ ?AT ! BASIC CAUSE = ! BREAKD[N ( LAISSEZ FAIRE & ! PR9CIPAL REASON = ! FAILURE ( ! ,AM]ICAN ECONOMY TO FUNCTION PROP]LY WAS TO BE F\ND 9 ! MONOPOLI/IC1 ADM9I/RATIVE CONTROL ?AT REPLAC$ ! M>KET CONTROL ( PRIC+4 ,H[EV]1 9 OPPOSITION TO ?IS PO9T ( VIEW & ) NEW EMPIRICAL EVID5CE AT H&1 ,DR4 ,ALFR$ ,C4 ,NEAL.<#a.> DEMON/RAT$ ?AT PRICE 9FLEXIBILITY1 F\ND SO SIGNIFICANT TODAY1 IS NOT AT ALL A NEW PROBLEM CONNECT$ )1 OR TO BE BLAM$ ON1 ! RISE ( MONOPOLIES4 ,( C\RSE PRICE 9FLEXIBILITY IS ALSO CAUS$ BY MONOPOLI/IC PRICE MANIPULATIONS4 ,YET1 9 REG>D TO ! :OLE PRICE SY/EM & BY A COMP>ISON ( ! PRES5T ) ! PRICE =MATION ( ! PA/1 IT MU/ BE ADMITT$ ?AT !RE EXI/S NO REAL PRO( ?AT CONC5TRATION HAS RESULT$ 9 9FLEXIBLE PRICES4 ,?\< IT IS TRUE - 9 REG>D TO /AGNATION - ?AT !RE EXI/S 9 TIMES ( DEPRESSION ! T5D5CY = ?OSE COMMODITIES :I* SUFF] ! GREATE/ DROP 9 PRODUCTION TO %[ ! SMALLE/ DECL9E 9 PRICE1 ?IS BEHAVIOR 0IS MANIFE/$ 9 A SIMIL> DEGREE BY PRODUCTS PRODUC$ UND] BO? 'HI<' & 'L[' CONC5TRATION CONDITIONS1 :I* IS EVID5CE ?AT CONC5TRATION IS NOT A SIGNIFICANT FACTOR = SU* BEHAVIOR40.<#a#a.> 

,BE ?IS AS IT MAY1 ! :OLE DISPUTE IS POSSIBLE ONLY BY ! >TIFICIAL CONFRONTATION ( MONOPOLY ) COMPETITION4 ,IT CEASES TO HAVE MEAN+ AS SOON AS IT IS REALIZ$ ?AT - 9 ! WORDS ( ,M>X - 0COMPETITION IMPLIES MONOPOLY1 & MONOPOLY IMPLIES COMPETITION40 ,AT ALL TIMES CAPITALI/ DEVELOPM5T KN[S BO? FLEXIBLE & 9FLEXIBLE PRICES1 /AGNATION & EXPANSION4 ,! REASON :Y AT C]TA9 P]IODS ! ONE OR ! O!R CAN & IS EMPHASIZ$ WILL NOT BE F\ND 9 MONOPOLIZATION AS ! \TW>D MANIFE/ATION ( CAPITAL CONC5TRATION BUT 9 ?IS CONC5TRATION PROCESS AS 9H]5T 9 ! ACCUMULATION ( CAPITAL4 ,TO APPROA* ! PROBLEM AS ONE ( MONOPOLY VS4 COMPETITION MEANS TO REMA9 9 ! SPH]E ( CAPITAL DI/RIBUTION4 ,BUT ALL ! IMPORTANT HAPP5+S 9 ! SPH]E ( CAPITAL DI/RIBUTION >E DET]M9$ BY :AT HAPP5S 9 ?AT ( CAPITAL PRODUCTION4 ,ONLY BY 5T]+ ! LATT] IS IT POSSIBLE TO COMPREH5D ! MEAN+ ( MONPOLY .<SIC.>4 

,V 

,COMPETITION IS NOT ! REGULATOR ( PRODUCTION & DI/RIBUTION1 BUT IS ITSELF ! RESULT ( CAPITALI/IC DISPROPORTIONALITIES4 ,SPECIFICALLY1 IT IS ! NECESS>Y CONSEQU5CE ( ! P]MAN5T OV]PRODUCTION ( CAPITAL1 :I* F9DS ITS REASON 9 ! FACT ?AT CAPITALI/S ACCUMULATE = ! SAKE ( ACCUMULATION & WORK]S PRODUCE = ! SAKE ( ! CAPITALI/S4 ,YET 0COMPETITION HAD ALWAYS TO %\LD] ! DUTY ( EXPLA9+ ALL 9EXPLICABLE IDEAS ( ! ECONOMI/S1 :]EAS ! ECONOMI/ %\LD RA!R EXPLA9 COMPETITION40.<#a#b.> ,!Y FAIL$ TO DO SO & ?US !Y N[ FAIL TO EXPLA9 MONOPOLIZATION4 ,BUT IF COMPETITION1 AS IS N[ WIDELY ACKN[L$G$1 IS NOT ! REGULATOR ( ! CAPITALI/ ECONOMY1 ITS IMP]FECTION OR TOTAL ABS5CE CANNOT BE MADE RESPONSIBLE = CAPITALI/ DIFFICULTIES4 ,BO? ! GR[? & ! PRES5T IMPASSE ( CAPITALISM >E 9DEP5D5T ( COMPETITION AS WELL AS ( MONOPOLY4 ,( C\RSE1 BO? PLAY !IR P>TS 9 ECONOMICS2 BUT NEI!R IS = NOR AGA9/ ! REGULATION ( ! CAPITALI/ ECONOMY4 

,COMPETITION & MONOPOLY HAVE SOME?+ TO DO ) ! DI/RIBUTION ( PR(ITS4 ,COMPETITION 0CANNOT BALANCE ANY?+ BUT 9EQUALITIES 9 ! RATE ( PR(IT40.<#a#c.> ,IT MAY BR+ AB\T 0A PRICE ( COMMODITIES BY :I* EV]Y CAPITAL YIELDS ! SAME PR(IT 9 PROPORTION TO ITS MAGNITUDE2 444 ! ONLY ?+ IT TELLS US IS ?AT ! RATE ( PR(IT MU/ HAVE A C]TA9 FIGURE40.<#a#c.> ,! DOM9ANCE ( MONOPOLIES MAY 9T]F]E ) ! DI/RIBUTION ( PR(ITS ACCORD+ TO ! SIZE ( CAPITAL 9VE/$ 9 DIFF]5T BRAN*ES ( PRODUCTION & )9 EA* S+LE BRAN*4 ,= %ORT] OR LONG] P]IODS ! MONOPOLI/S SECURE = !MSELVES EXTRA-PR(ITS :I* R$UCE ! PR(ITABILITY ( NON-MONOPOLI/IC BUS9ESS4 ,BY PREV5T+ ! FREE MOVEM5T ( CAPITAL )9 A SPH]E ( PRODUCTION & FROM ONE SPH]E TO ANO!R1 BY MONOPOLIZ+ A C]TA9 PRODUCT OR A NUMB] ( PRODUCTS1 BY POLITICAL MEANS & BY ALL SORTS ( CONTROLS & DEVICES ?AT H9D] COMPETITION BY \TSID]S ! MONOPOLI/S R$UCE ! PR(ITS ( NON-MONOPOLI/IC 5T]PRIS]S BEL[ ! AV]AGE ?AT MAY BE OBTA9$ UND] MORE P]FECT COMPETITIVE CONDITIONS4 

,! PROBLEM ( COMPETITION VS4 MONOPOLY BELONGS TO ! SECOND>Y SPH]E ( PR(IT DI/RIBUTION4 ,EMPIRICAL OBS]VATION1 9 SO F> AS IT IS POSSIBLE1 HAS H]E %[N ?AT CONC5TRATION - TO SPEAK 9 ! LANGUAGE ( ! PR(ESSIONAL ECONOMI/S - HAS 0A SMALL BUT SIGNIFICANT 9FLU5CE UPON ! DECL9E 9 ! DIFF]5CE BETWE5 UNIT PRICE & UNIT DIRECT CO/ - ! OV]HEAD-PLUS-PR(IT M>G940.<#a#d.> ,! M>G9 OV] DIRECT CO/ IS ! S\RCE ( 9T]E/1 DEPRECIATION1 SAV+S1 DIVID5DS1 SAL>IES1 BONUSES & ! LIKE2 9 %ORT1 ! ,M>XIAN SURPLUS VALUE4 0,?IS M>G9 T5D$ TO DECL9E LEA/ :]E CONC5TRATION WAS HI<2 MO/ :]E IT WAS L[40.<#a#d.> 

,TO ASK = ! RE/ORATION ( COMPETITION MEANS TO ASK = A MORE 0EQUAL0 PR(IT DI/RIBUTION1 = ! ELIM9ATION ( EXTRA-PR(ITS TO BOL/] ! AV]AGE RATE ( PR(IT4 ,9 A S5SE1 ?IS QUE/ IS A M]E REPETITION ( ! QU>RELS ( ! ,CLASSICI/S 9 REG>D TO PR(IT & R5T & ( BANK+ & 9DU/RIAL CAPITAL 9 REG>D TO PR(IT & 9T]E/4 ,N[ ?AT NEI!R R5T NOR 9T]E/ IS ANY LONG] ( GREAT IMPORTANCE BECAUSE ( ! GR[? ( 9DU/RIAL-F9ANCIAL CAPITAL & BECAUSE ( ITS DICTATORIAL POSITION 9 SOCIETY1 ! CAPITALI/S' QU>RELS HAVE BE5 R$UC$ TO A M]E FAMILY BRAWL4 ,! FI<T CONC]NS ! DI/RIBUTION ( PR(ITS BETWE5 BIGG] & SMALL] CAPITALI/S AFFECT+1 ( C\RSE1 ! 9T]E/S ( ALL ! SOCIAL LAY]S ?AT >E BE+ F$ BY ! SURPLUSES CREAT$ 9 PRODUCTION4 

,TO ASK = ! EQUALIZATION ( PR(ITS ACCORD+ TO ! SIZES ( CAPITAL IS1 H[EV]1 TO ASK = ! IMPOSSIBLE4 ,9 SPITE ( ALL COMPETITION1 !RE HAS NEV] BE5 SU* A PR(IT DI/RIBUTION4 ,!RE HAVE ALWAYS BE5 EXTRA-PR(ITS :I*1 = %ORT] OR LONG] P]IODS1 ESCAP$ ASSIMILATION ) ! L[] AV]AGE PR(IT RATE4 ,( C\RSE1 AS LONG AS COMPETITION WAS FI]CE ! EQUALIZATION ( ! PR(IT RATES EXI/$ AS A T5D5CY - ONE :I*1 H[EV]1 BECAME WEAK] ! FA/] CAPITAL ACCUMULAT$4 

,AL?\< COMPETITION T5DS TO BR+ AB\T 0A PRICE ( COMMODITIES1 BY :I* EV]Y CAPITAL YIELDS ! SAME PR(IT 9 PROPORTION TO ITS MAGNITUDE1 ! MAGNITUDE ITSELF IS 9DEP5D5T ( IT40.<#a#c.> ,BUT ALL DEP5DS ON ?IS MAGNITUDE4 ,CAPITALISM1 BE+ PRODUCTION = PR(IT1 PROSP]S1 /AGNATES1 OR DECL9ES 9 ACCORDANCE ) ! MOVEM5TS ( ! PR(IT RATE4 ,9 ADDITION TO O!RS1 ITS MO/ IMPORTANT 0ECONOMIC0 DIFFICULTY CONSI/S 9 ! DECREAS+ PR(IT RATE ?AT ACCOMPANIES ! =MATION ( CAPITAL4 ,?IS T5D5CY ASS]TS ITSELF UND] ALL ! =MS ?AT CAPITALISM MAY ASSUME2 IT DET]M9ES TO A L>GE EXT5T ! *ANGES 9 =M4 ,COMPETITION IS ONE WAY TO ESCAPE ?IS DIFFICULTY4 ,MONOPOLISM IS ITS RESULT & IS ALSO ANO!R ATTEMPT TO ESCAPE ! DECL9+ PR(ITABILITY4 ,AS ! SUCCESSFUL COMPETITOR TURN$ MONOPOLI/1 SO ! LATT] N[ COMPETES TO BECOME A SUPP]-MONOPOLI/ .<SIC.>4 ,:AT SPURR$ ON COMPETITION ALSO DRIVES MONOPOLISM3 ! SE>* = EXTRA PR(ITS TO ESCAPE ! CONSEQU5CES ( ! SELF-CONTRADICTORY MOVEM5T ( CAPITAL ACCUMULATION4 

,ACCORD+ TO ,M>X 0! DEVELOPM5T ( CAPITALI/ PRODUCTION MAKES IT CON/ANTLY NECESS>Y TO KEEP 9CREAS+ ! AM\NT ( CAPITAL LAID \T 9 A GIV5 9DU/RIAL UND]TAK+1 & COMPETITION MAKES ! IMMAN5T LAWS ( CAPITALI/ PRODUCTION TO BE FELT BY EA* 9DIVIDUAL CAPITALI/ AS EXT]NAL CO]CIVE LAWS4 ,IT COMPELS HIM TO KEEP CON/ANTLY EXT5D+ HIS CAPITAL1 9 ORD] TO PRES]VE IT1 BUT EXT5D IT HE CANNOT EXCEPT BY MEANS ( PROGRESSIVE ACCUMULATION40.<#a#e.> ,) ACCUMULATION1 MORE & MORE CAPITAL IS 9VE/$ 9 ! MEANS ( PRODUCTION & RELATIVELY LESS 9 LABOR P[]4 ,! RELATIVE DECL9E ( ! LATT]1 BE+ ! SOLE S\RCE ( SURPLUS VALUE1 LEADS TO A SMALL] PR(IT RATE MEASUR$ ON ! TOTAL SIZE ( CAPITAL4 ,BUT PRODUCTION MU/ BE PR(ITABLE1 CAPITAL IS SET 9 MOTION TO YIELD A GREAT] CAPITAL1 ?US ! SURPLUS VALUE MU/ BE RAIS$ TO NEUTRALIZE ! PR(IT DECL9E4 ,IT CAN BE RAIS$ BY 9CREAS+ ! EXPLOITATION ( LABOR & BY AN ABSOLUTE 9CREASE ( ! LABOR =CE DESPITE ITS DECL9E RELATIVE TO ! TOTAL MASS ( CAPITAL4 ,9 ORD] EV5 TO MA9TA9 A GIV5 RATE ( CAPITAL ACCUMULATION ! PRODUCTION APP>ATUS MU/ BE DEVELOP$ 9 SU* A MANN] ?AT MORE & MORE ( ! TOTAL SOCIAL LABOR S]VES ! NE$S ( ACCUMULATION4 ,TO MAKE POSSIBLE ?AT RELATIVELY /ABLE RATE ( ACCUMULATION ?AT CAPITALISM KN[S1 ! PRODUCTIVITY ( LABOR MU/ BE RAIS$ CONT9U\SLY TO YIELD ! ADDITIONAL CAPITAL = EXPANSION4 

,! CONC5TRATION PROCESS IS ! RESULT ( ! CONT9U\S EF=T TO RAISE ! SURPLUS VALUE4 ,ITS SOCIAL CONSEQU5CES >E UNAVOIDABLE UND] CONDITIONS ( CAPITAL PRODUCTION4 ,JU/ AS ! G5ESIS ( CAPITALISM IS TO BE F\ND 9 ! CONC5TRATION ( ! MEANS ( PRODUCTION 9 ! H&S ( A P>TICUL> CLASS1 SO PRES5T-DAY CAPITALISM NECESSITATES ! FUR!R CONC5TRATION ( CAPITAL 9 FEW] H&S4 ,! ESS5CE ( CAPITALISM IS ?IS PROCESS ( EXPROPRIATION BY :I* ! CONTROL ( ! MEANS ( PRODUCTION IS C5TRALIZ$ & AN ALWAYS GREAT] MASS ( PEOPLE >E DEPRIV$ ( ALL BUT !IR LABOR P[]4 

,! 9FLU5CE ( MONOPOLY UPON PRICES1 RESULT+ 9 MONOPOLI/IC EXTRA PR(ITS ?AT L[] ! PR(ITS ( NON-MONOPOLI/IC 5T]PRIS]S1 =C$1 AS !Y >E1 TO A MORE SEV]E COMPETITIVE /RUGGLE 9 A RE/RICT$ FIELD ( ECONOMIC ACTIVITY1 WILL LEAD TO ! RU9 ( SMALL BUS9ESS1 BUT IT DOES NOT EXPLA9 ECONOMIC /AGNATION4 ,RA!R1 MONOPOLI/IC PR(ITS %\LD MAKE POSSIBLE AN 9CREAS$ ECONOMC .<SIC.> ACTIVITY & MONOPOLI/IC EXPANSION4 ,! DISAPPE>ANCE ( SMALL BUS9ESS CANNOT BE GIV5 AS ! REASON = ! MONOPOLI/IC /AGNATION = IT IS OBVI\S ?AT ! MONOPOLIES FL\RI%$ BECAUSE ( IT4 

,! REASON = ! MONOPOLI/IC /AGNATION IS ! SAME AS ?AT = ! GR[? ( MONOPOLY4 ,MONOPOLIES CAME TO RULE 9 ORD] TO ESCAPE ! DECREAS+ PR(ITABILITY ( CAPITAL4 ,H[EV]1 JU/ AS ! GREAT] 0P]FECTION0 ( COMPETITION C\LD NOT YIELD :AT ! EXI/+ COMPETITION REFUS$ TO BR+ AB\T1 NAMELY1 ! UNDI/URB$ ACCUMULATION ( CAPITAL ON A COMPETITIVE BASIS1 SO ALSO ! GREAT] 0P]FECTION0 ( MONOPOLIZATION DID NOT LEAD TO :AT MONOPOLIZATION ASPIR$ TO3 PR(ITS HI< 5\< TO 5ABLE ! FUR!R ACCUMULATION ( CAPITAL ON A MONOPOLI/IC BASIS4 ,! LONG PRE-W> /AGNATION M]ELY 9DICAT$ ?AT ! ESCAPE WAS NOT SUCCESSFUL1 ?AT ! DECREAS+ PR(ITABILITY HAD CAU<T UP ) ! MONOPOLIES & H9D]$ !IR FUR!R UNFOLD+4 ,! P]IOD ( CRISIS & DECL9E WAS UTILIZ$ = ! PREP>ATION ( ANO!R ESCAPE 9 ! OLD - & ONLY - MANN] GIV5 TO CAPITALISM4 ,BE+ A WORLD SY/EM1 CAPITALISM N[ CONT9UES ! CONC5TRATION PROCESS ?AT />T$ NATIONALLY & WAS SL[LY EXT5D$ BY 9T]NATIONAL C>TELIZATION ON A GLOBAL SCALE4 

,SE5 FROM ?IS PO9T ( VIEW1 ! PRES5T W> EM]GES AS A CONSEQU5CE ( ! MONOPOLI/IC DIFFICULTY ( SOLV+ ! NE$S ( PR(IT & EXPANSION4 ,!RE N[ EXI/S ON A GLOBAL SCALE :AT HAS BE5 EXP]I5C$ EV]Y:]E BE=E ON A SMALL] SCALE3 ! EXPROPRIATION ( CAPITALI/S BY CAPITALI/S4 ,BY TRY+ TO W9 ! W>1 ,AM]ICA HOPES 0TO FACE OPPORTUNITIES ( UNPREC$5T$ SCOPE4 444 ,BY ! 5D ( ! W> ! ,UNIT$ ,/ATES01 IT IS ?\<T1 0WILL BE ! ONLY GREAT 9DU/RIAL P[] ) ITS PHYSICAL FACILITIES & SOCIAL FABRIC 9TACT40.<#a#f.> ,H] 9T]NATIONAL MONOPOLI/IC POSITION WILL BE US$ 0TO HELP REBUILD O!R C\NTRIES10 :I*1 9 LESS POLITE T]MS MEANS 0A 'PEACE' MORE V9DICTIVE ?AN ! ,V]SAILLES ,TREATY1 ?AT WILL SEEK TO /ABILIZE AN ,ANGLO-,AM]ICAN FEUDAL MONOPOLY OV] ! 5TIRE WORLD40.<#a#g.> ,( C\RSE1 ! ,AXIS FI<TS ?IS W> = SIMIL> 5DS4 ,:ATEV] ! \TCOME ( ! W>1 H[EV]1 CAPITALI/IC DIFFICULTIES WILL NOT BE SOLV$4 ,! W> CAN ONLY REPRODUCE CAPITALI/ CONTRADICTIONS ON A /ILL L>G] SCALE4 ,?IS REPRODUCTION1 TO BE SURE1 AFFECTS ! =M ( CAPITALISM4 ,BUT ! SUB/ANCE REMA9S ! SAME4 

,V,I 

,! LAW ( ! FALL+ RATE ( PR(IT1 DUE TO ! DISPROPORTIONAL DEVELOPM5T BETWE5 ! TWO CON/ITU5TS ( CAPITAL1 V>IABLE 7WAGES7 & CON/ANT 7MEANS ( PRODUCTION71 HAS (T5 BE5 REJECT$.<#a#h.> ) ! REM>K ?AT IF CAPITAL IS VIEW$ AS A :OLE1 CON/ANT CAPITAL DISAPP]S .<SIC.> & ALL CAPITAL IS V>IABLE4 ,IF - 9 ! F9AL ANALYSIS - ALL CAPITAL IS V>IABLE1 ! CONTRADICTION BETWE5 CON/ANT & V>IABLE & ITS CONSEQU5CE IS M]ELY IMAG9>Y4 ,! ,M>XI/S W\LD BE ! LA/1 ( C\RSE1 :O W\LD D5Y ?AT ALL WEAL? IS ! PRODUCT ( LABOR4 ,BUT IT IS CLE> ?AT ! WORK]S DO NOT C>RY CON/ANT CAPITAL BUT ONLY WAGES 9 !IR PAY 5VELOPES4 ,! MEANS ( PRODUCTION BELONG & REMA9 9 ! H&S ( A SEP>ATE CLASS & BECAUSE ( ?IS CLASS-RELATION 9 ! PRODUCTIVE PROCESS1 MEANS ( PRODUCTION APPE> AS CON/ANT & LABOR P[] AS V>IABLE CAPITAL4 

,BECAUSE ( P>TICUL> SOCIAL RELATIONS1 & = NO O!R REASON1 ! RESULTS ( PREVI\S LABOR OPPOSE ! EXI/+ LABOR]S S9CE ! =M] CAN S]VE ONLY TO EXPLOIT !M4 ,! GR[? ( WEAL? 9 CAPITALISM IS ! GR[? ( PR(ITS :I* F9D !IR WAY 9TO MEANS ( PRODUCTION ) :I* MORE LABOR CAN BE EXPLOIT$ & ALL LABOR CAN BE EXPLOIT$ MORE 9T5SIVELY4 ,)\T ! DIVISION ( ! PRODUCTS ( LABOR 9TO CON/ANT & V>IABLE CAPITAL1 CAPITALISM W\LD NOT BE POSSIBLE4 ,TO SAY ?AT ALL CAPITAL IS V>IABLE IS TANTAM\NT TO SAY+ ?AT !RE EXI/S NO EMPLOY+ CLASS 9 SOVIETY .<SIC.> & ?US ALSO TO NEGATE ! /ATEM5T ?AT ALL CAPITAL IS V>IABLE4 

,= ! PROPON5TS ( 0CLASSLESS0 ECONOMICS IT IS NO D\BT NECESS>Y TO IGNORE ! CONTRADICTORY DEVELOPM5T BETWE5 CON/ANT & V>IABLE CAPITAL DET]M9$1 AS IT IS1 BY ! CLASS /RUCTURE ( SOCIETY4 ,BUT ITS RESULT - A LACK ( 9VE/M5TS = REASON ( 9SUFFICI5T PR(ITABILITY - IS WIDELY ACKN[L$G$ & 9VE/IGAT$4 ,9 ?IS FIELD1 H[EV]1 ! BURD5 ( ! PR(ESSIONAL ECONOMI/S HAS SOME:AT BE5 EAS$ BECAUSE ( GOV]NM5TAL DEPRESSION PROC$URES :I* !Y M]ELY HAD TO SANCTION4 ,!Y %ELV$ 0PURE !ORY0 = ! DURATION & NEGLECT$ ! 0LAWS ( ! M>KET0 TO GIVE MORE ATT5TION TO PRODUCTION & ! BUS9ESS CYCLE OR1 N[1 TO PRODUCTION & ! W>4 ,! QUE/ION ( MONOPOLY & COMPETITION MADE ROOM = !ORIES ( EMPLOYM5T & 9COME DI/RIBUTION :I* L>GELY IGNORE ! OLD EQUILIBRIUM ASSUMPTIONS4 

,MAYN>D ,KEYNES.<#a#i.>1 ! MO/ FAM\S CONTEMPOR>Y ECONOMI/1 REA*$ HIS ELEVAT$ POSITION NOT BY BREAK+ ) ! CU/OM>Y M>G9AL PR9CIPLES BUT BY TEMPOR>ILY =GETT+ !M & CON/RUCT+ A 0!ORY0 ?AT JU/IFI$ ! MAKE%IFT POLICIES ( GOV]NM5TS 9 DI/RESS4 ,( C\RSE HIS !ORY IS DRESS$ 9 M>G9AL T]M9OLOGY & FITT$ TO TRADITIONAL ASSUMPTIONS1 BUT ITS 0APPLICATION0 IS 9DEP5D5T ( ITS SUBJECTIVI/IC =MULATION4 ,KEYNES />TS FROM APPE>ANCE1 ?AT IS1 FROM ! FACT ?AT A CAPITALI/ DEPRESSION IS1 9 ,/U>T ,*ASE'S T]M *>ACT]IZ$ BY 0IDLE MONEY & IDLE M540 ,AL?\< QUITE LATE1 ,KEYNES F\ND \T ?AT ! ASSUMPTION ( ! ,CLASSICI/S ?AT :AT IS NOT SP5T ON PRES5T CONSUMPTION IS SP5T TO PROVIDE = FUTURE CONSUMPTION IS NOT TRUE2 ?AT !RE >E NO AUTOMATIC =CES OP]AT+ ?AT ADJU/ ! 0SP5D+ HABITS0 ( ! COMMUNITY2 444 0! PROP5SITY TO CONSUME BECOMES WEAK]1 444 BECAUSE IT IS 9CREAS+LY DIFFICULT TO F9D ATTRACTIVE FIELDS ( 9VE/M5T40 ,KEYNES EV5 F\ND \T ?AT !RE HAS BE5 0*RONIC T5D5CY ?R\<\T HI/ORY = ! PROP5SITY TO SAVE TO BE /RONG] ?AN ! PROP5SITY TO 9VE/40.<#b.> ,BUT 0EMPLOYM5T CAN ONLY 9CREASE P>I PASSU ) AN 9CREASE 9 9VE/M5T2 UNLESS1 9DE$1 !RE IS A *ANGE 9 ! PROP5SITY TO CONSUME40 

,ACCORD+ TO ,KEYNES ! M>G9AL EFFICI5CY ( CAPITAL WILL T5D TO DECREASE AS 9VE/M5T 9CREASES2 A SUDD5 %IFT 9 ! S*$ULE ( ! M>G9AL EFFICI5CY ( CAPITAL CAUSES 5TREPR5EURS TO HESITATE TO MAKE NEW COMMITM5TS4 ,!RE >ISES ! DESIRE ON ! P>T ( PEOPLE TO HOLD !IR WEAL? 9 ! =M ( CA%1 ! SO-CALL$ 0LIQUIDITY PREF]5CE04 ,AS !RE >E NO AUTOMATIC =CES ?AT BR+ AB\T A REVIVAL ( 9VE/M5T ACTIVITY1 ?AT IS BR+ AB\T AN 9CREASE 9 ! M>G9AL EFFICI5CY OR PR(ITABILITY ( CAPITAL ! GOV]M5T .<SIC.>1 NOT SUBJECT TO ! PESSIMISM ( ! 5T]PR5EUR .<SIC.> 9 REG>D TO ! PR(IT \TLOOK1 WILL HAVE TO ASSUME 0AN EV] GREAT] RESPONSIBILITY = DIRECTLY ORGANIZ+ 9VE/M5T40.<#b#a.> ,! NATIONAL DEBT CAN BE US$ TO BALANCE 9COME & 9VE/M5T2 UN9VE/$ SAV+S CAN BE MADE ! SPECIAL T>GET ( TAX LAWS & CAN F9ANCE PUBLIC WORKS ?AT REGULATE ECONOMIC ACTIVITY2 9FLATION>Y ME?ODS CAN RAISE ! MONEY WAGE & DECREASE ! REAL WAGE ( ! WORK]S & ?US 9CREASE PR(ITABILITY4 ,& !RE >E YET A NUMB] ( O!R MEANS BESIDE !SE BY :I* ! PRES5T SY/EM ( PRODUCTION MAY BE /ABILIZ$4 

,! FACT ( 9SUFFICI5T 9VE/M5TS.<#b#b.> CAN BE 9T]PRET$ 9 DIFF]5T WAYS4 ,AGA9/ ! PR9CIPLE ( DIM9I%+ UTILITY (F]$ BY ,KEYNES1 IT IS >GU$ ?AT ! FAILURE ( 9VE/M5T CANNOT BE DUE TO A 0LACK ( CONFID5CE0 ?AT HAS POSSESS$ BUS9ESS M51 AS !RE EXI/S NO REAL EVID5CE ( A 0LIQUIDITY PREF]5CE0 ON !IR P>T4 ,CALCULATIONS BAS$ ON AN ,AM]ICAN /UDY 0( ! RELATION%IP BETWE5 ! VOLUME ( NEW SECURITIES ISSU$ & AGGREGATE AFT]-TAX 9COME RECEIV$ BY 9DIVIDUALS ABOVE ! @s#a1 LEVEL10 9DICAT$ ?AT ! 0ANSW] TO ! MY/]Y ( :Y 9VE/M5TS 9 NEW SECURITIES HAVE %RUNK SO GREATLY IS NOT HO>D+1 BUT 9ABILITY ( ! PROSP]\S CLASSES TO 9VE/ MORE4 ,!RE >E TWO MA9 REASONS = ?IS 9ABILITY4 ,FIR/1 ! NUMB] ( P]SONS RECEIV+ 9COMES ( @s#a1 OR MORE IS SMALL] ?AN 9 ! LATE 'TW5TIES'4 ,SECOND1 & MORE IMPORTANT1 IS ! /EEP RISE 9 9COME TAX RATES40.<#b#c.> 

,FROM ! PO9T ( VIEW ( ! GOV]NM5T AS REPRES5T$ BY ,KEYNES1 TAXATION LEADS TO A GREAT] VOLUME ( 9VE/M5T4 ,FROM ! PO9T ( VIEW ( ! TAX$ BUS9ESS M51 IT WILL %R9K PRIVATE 9VE/M5T /ILL MORE & ?US - 9 ! LONG RUN - L[] TOTAL 9VE/M5T4 ,! M]E GOV]NM5TAL CONTROL ( 9VE/M5T C]TA9LY CANNOT 9CREASE ITS VOLUME1 :I* DOES NOT DEP5D ON ATTITUDES BUT ON ABILITIES4 ,BUT IT DOES TRANSF] CAPITAL FROM ! H&S ( PRIVATE CAPITAL TO ?OSE ( ! GOV]NM5T2 FROM ONE GR\P ( 9DIVIDUALS TO ANO!R4 ,IT MAY1 VIA ! GOV]NM5T1 5T] ! H&S ( ! MONOPOLI/S 9 CASE !Y CONTROL ! GOV]NM5T2 IT MAY /R5G!N ! GOV]NM5T AGA9/ ! MONOPOLIES 9 CASE ! GOV]NM5T HAS CAPITALIZ$ ITSELF ALREADY SUFFICI5TLY TO OP]ATE AGA9/ ! MONOPOLIES4 ,IT MAY DO BO? AT ! SAME TIME4 ,! PROC$URE IS ONLY A P>TICUL> =M ( ?AT CONT9U\S EXPROPRIATION ( CAPITALI/S BY CAPITALI/S :I* ACCOMPANIES ! :OLE CAPITALI/ DEVELOPM5T4 

,! W> SEEMS1 H[EV]1 TO DISPROVE ! IDEA ?AT :AT IS H]E 9VOLV$ IS ! M]E TRANSF] ( CAPITAL1 BY ITSELF UNABLE TO 9CREASE ! VOLUME ( 9VE/M5T4 ,! BLESS+S ( ,NEW ,DEAL MEASURES 9 ALL CAPITALI/ NATIONS C\LD BE QUE/ION$1 BECAUSE NOBODY CAN REALLY TELL :E!R OR NOT1 SOON] OR LAT]1 BUS9ESS W\LD NOT HAVE PICK$ UP ( ITS [N ACCORD & DRIV5 ! REVIVAL FUR!R ?AN ?AT PRESUMABLY CREAT$ BY GOV]NM5T ACTION4 ,! SPURT 9 ECONOMIC ACTIVITY WAS TOO 9SIGNIFICANT TO BE ABLE TO PROVE ANY?+4 ,IT W5T F> AHEAD ONLY :]EV] 0PUBLIC WORKS0 & 0PYRAMID BUILD+0 S]V$1 OR *ANG$ 9TO1 W> PRODUCTION4 ,& ONLY 9T5SIVE PREP>ATION YR1 & ! F9AL \TBREAK (1 ! W> L$ TO ! DESIR$ SITUATION :]E !RE WAS NEI!R IDLE M5 NOR IDLE MONEY4 

,:5 ,MAYN>D ,KEYNES DISCOV]$ ?AT ?R\<\T HI/ORY 0! PROP5SITY TO SAVE EXCE$$ ?AT TO 9VE/10 HE NOTIC$ ONLY ! OBVI\S FACT ?AT CAPITAL MU/ FIR/ BE ACCUMULAT$ BE=E IT CAN BE 9VE/$4 ,NOT EV]Y AM\NT ( CAPITAL CAN BE 9VE/$2 ! NECESS>Y AM\NT V>IES ) ! *ANGES 9 CAPITAL FOMATION .<SIC.>4 ,) ! GR[? ( ! ORGANIC COMPOSITION ( CAPITAL1 ?AT IS1 9 O!R WORDS1 :5 MORE & MORE CAPITAL IS 9VE/$ 9 ! MEANS ( PRODUCTION & RELATIVELY LESS 9 LABOR P[]1 ! NECESS>Y ADDITIONAL CAPITAL - DESPITE ! *EAP5+ ( CAPITAL GOODS - MU/ GR[ PROGRESSIVELY 9 ORD] TO SECURE A GIV5 RATE ( EXPANSION4 

,! MAGNITUDE ( ! NE$$ ADDITIONAL CAPITAL = EXPANSION IS DET]M9$ BY ! MAGNITUDE ( ! CAPITAL ALREADY 9VE/$4 ,S9CE ! EXPLOITATION ( A GIV5 NUMB] ( WORK]S UND] GIV5 CONDITIONS HAS ITS LIMITATIONS1 ADDITIONAL WORK]S MU/ BE EXPLOIT$ & BE PUT TO WORK UND] MORE PR(ITABLE CONDITIONS4 ,! EXI/+ CAPITAL1 E>M>K$ = EXPANSION1 CAN FULFILL ITS FUNCTION ONLY IF ABLE TO E/ABLI% A PRODUCTIVE APP>ATUS :I* ALL[S = ! EXPLOITATION ( SU* A NUMB] ( ADDITIONAL WORK]S AS W\LD BE NECESS>Y TO MAKE ITS 9VE/M5T PR(ITABLE4 ,! ABSOLUTE NUMB] ( WORK]S MU/ GR[ DESPITE ITS FUR!R RELATIVE DECL9E CONNECT$ ) ! GR[? ( ! ORGANIC COMPOSITION ( CAPITAL4 ,& ?US1 H[EV] L>GE ! IDLE CAPITAL MAY BE1 IT MAY /ILL BE TOO SMALL TO SATISFY ! CAPITALI/IC EXPANSION NE$S4 ,! IDLE CAPITAL1 APPE>+ AS A SURPLUS1 W\LD M]ELY 9DICATE TEMPOR>Y PR(IT %ORTAGE H9D]+ ! FUR!R UNFOLD+ ( ! CAPITALI/ ECONOMY4 ,TO OV]COME ! 5SU+ /AGNATION ! PR(ITABILITY ( CAPITAL MU/ BE RAIS$1 :I* IMPLIES ITS FUR!R CONC5TRATION & C5TRALIZATION4 

,MEAN:ILE1 ! IDLE CAPITAL1 9SUFFICI5T = A PR(ITABLE CAPITAL EXPANSION1 CAN /ILL BE US$ = UNPR(ITABLE ,NEW ,DEAL MEASURES4 ,WORK]S >E PUT TO WORK NOT TO CREATE ADDITIONAL CAPITAL BUT TO SECURE ! /ABILITY ( ! CAPITALI/ SY/EM4 ,/AGNATION IS DANG]\S4 ,?\< IT /R5G!NS ! =CES ( MONOPOLY JU/ AS WELL IF NOT BETT] ?AN EXPANSION1 IT ALSO CREATES A SITUATION :I* ?REAT5S ! :OLE SOCIAL /RUCTURE & !RE) ! GOV]NM5T ITSELF4 ,\T ( ! NECESSITY ( 9T]V5+ 9 ! ECONOMIC SPH]E1 ! GOV]NM5T SOON MAKES A VIRTUE & TRANS=MS ITSELF 9TO ONE MONOPOLY AMONG O!RS TO BECOME 9 DUE TIME ! /RONGE/ ( !M ALL1 0,BE=E #a#i#c#c1 DESPITE ! GR[? 9 GOV]NM5T CONTROL1 PRIVATE BUS9ESS SEEM$ TO HAVE ! ASC5DANCY4 ,S9CE !N1 ! P5DULUM HAS SWUNG 9 ! OPPOSITE DIRECTION40.<#b#d.> ,IT WAS !N REALIZ$ ?AT 0GOV]M5T .<SIC.> MU/ BE ADMITT$ AS A P>TN] IF IT IS NOT TO BE MA/]40.<#b#e.> ,BUT TODAY IT IS ALSO REALIZ$ ?AT ! CONT9UANCE ( ! POLICY ( GOV]NM5TAL 9T]F]5CE 9 ! ECONOMIC LIFE1 P>TICUL>LY ) REG>D TO 9VE/M5T1 0IMPLIES ! ULTIMATE GOV]NM5TAL [N]%IP ( ALL 9DU/RIES40.<#b#f.> 

,?AT ?IS TR5D F9DS ! ACCLAIM ( ! MAJORITY IS ITSELF M]ELY ! POLITICAL EXPRESSION ( ! CONC5TRATION ( CAPITAL :I* MAKES ! PRIVATE [N]S ( CAPITAL AN ALWAYS DECREAS+ M9ORITY FAC+ AN 9CREAS+ NON-[N+ POPULATION1 /ILL MORE AUGM5T$ BY ! 9CORPORATION ( SO-CALL$ 0BACKW>D NATIONS0 9 ! 9T]E/ SPH]ES ( IMP]IALISM4 ,! TR5D IS ALL ! MORE WELCOM$ BECAUSE ( ! WELL-FO/]$ & WIDE-SPREAD ILLUSION ?AT A GOV]NM5T-CONTROLL$ ECONOMY WILL BE A WELF>E ECONOMY1 CAPABLE ( BR++ AB\T ?AT ECONOMIC EQUILIBRIUM (T5 ASPIR$ TO BUT NEV] REA*$1 BY A PROP] BALANC+ ( 9VE/M5T & EMPLOYM5T4 ,QUE/IONS ( 0WANT0 & 0*OICE0 BECOME IRREVELANT .<SIC.>2 PLANN+ FROM ABOVE IS TO BR+ SECURITY TO ALL4 ,SUDD5LY IT IS ASSUM$ ?AT ! GOV]NM5T KN[S BE/ :AT PEOPLE REALLY DESIRE 9 K9D & QUANTITY ( COMMODITIES & :AT K9DS ( JOBS & WORK+ CONDITIONS !Y REALLY FAVOR4 ,?US1 AT ! V]Y MOM5T :5 ALL 0CAPITALI/IC PR9CIPLES0 ( ! FRE$OM ( ! 9DIVIDUAL >E VIOLAT$ F> MORE ?AN EV] BE=E1 AT ?AT MOM5T ! CAPITALI/ PROPAG&I/S FEEL ?AT 0MAN BECOMES ! MA/] ( HIS FATE40 

,DESPITE ! NEW PHRASEOLOGY US$1 ! ,NEW ,DEAL MEASURES >E ! OLD CAPITALI/IC PROC$URES EMPLOY$ DUR+ P]IODS ( CRISIS4 ,& ?US !Y >E LIMIT$4 ,!Y M]ELY FO/] ! MORE RAPID CONC5TRATION ( CAPITAL4 ,%ORT ( A COMPLETE /ATE-CAPITALI/ REVOLUTION ( ! ,RUSSIAN TYPE1 IT IS NOT POSSIBLE TO OPPOSE ! BACKBONE ( ! ECONOMY - ! MONOPOLIES4 ,ALL ?AT CAN BE DONE IS TO CREATE CONDITIONS = !IR EXPANSION4 ,9T]NALLY ?IS MEANS TO 0RECREATE0 CONDITIONS ( 0EQUAL OPPORTUNITIES0 = ALL CAPITALI/S1 = PRECISELY UND] SU* CONDITIONS WILL ?OSE ALREADY AT A DISADVANTAGE BE /ILL MORE DISADVANTAG$4 ,! MORE LAWS >E PASS$ & EXECUT$ AGA9/ MONOPOLY1 ! /RONG] ! EXI/+ MONOPOLIES WILL BE1 = 9 ?IS WAY !Y >E FRE$ FROM ! ?REAT ( MONOPOLI/IC COMPETITION4 ,! DEMOCRATIC /RUGGLE AGA9/ MONOPOLY - 9DICAT+ ! EXI/+ MONOPOLI/ /AGNATION - HELPS TO SECURE ! /RONG] MONOPOLIES4 ,! H>D] ! /RUGGLE1 ! MORE ( ! SOCIAL CAPITAL 5T]S !IR H&S4 

,NEW ,DEAL MEASURES MU/ BE UND]/OOD AS PROC$URES DICTAT$ BY NECESSITY & ORDA9$ ) ! FAI? ?AT ! CAPITALI/ SY/EM WILL SOON] OR LAT]1 AS IT ALWAYS HAS 9 ! PA/1 BR+ =? A NEW PROSP]ITY4 ,9 ! C\RSE ( ! PROCESS ?AT ! ,NEW ,DEAL RELEASES1 0! IDLE MONEY0 ( ! WEAK] CAPITALI/ DISAPPE>S4 ,?AT ( ! MONOPOLI/S BECOMES /ILL BIGG] AS !IR PR(ITABILITY 9CREASES4 ,BUT IF ! ,KEYNES PROPOSALS >E C>RI$ FUR!R IT WILL ALSO DISAPPE> 9 DUE TIME4 ,IT IS HOP$1 H[EV]1 ?AT BE=E SU* A TIME ! 9CREAS$ PR(ITABILITY ( MONOPOLI/IC CAPITAL WILL 9ITIATE A NEW BOOM TO COMP5SATE = ! DEPRESSION LOSSES4 

,IF ! UPSW+ DOES NOT COME1 ! ,KEYNESIAN ME?ODS ( /ABILIZ+ ! SY/EM LEAD TO ! 5D ( ! :OLE CAPITALI/ /RUCTURE2 AN 5D ?AT F9DS ITS BEG9N+ 9 COMPLETE GOV]NM5T CONTROL UNLESS :AT IS DONE ON A LIMIT$ NATIONAL SCALE IS REPEAT$ ON ! L>G] PLANE ( ! WORLD ECONOMY4 ,A GREAT] MASS ( ! WORLD'S SURPLUSES MU/ BE BR\<T 9TO FEW] H&S1 SO ?AT ! VICTORI\S MONOPOLI/S WILL BE ABLE TO *ANGE ! :OLE PROCESS ( CAPITAL PRODUCTION & CIRCULATION 9 SU* A MANN] ?AT IT YIELDS PR(ITS :I* WILL 5ABLE ! FUR!R EXPANSION ( BO? CON/ANT & V>IABLE CAPITAL1 DESPITE ! FUR!R GR[? ( ! ORGANIC COMPOSITION ( CAPITAL4 ,( C\RSE ?IS NECESSITY NE$ NOT BE RECOGNIZ$4 ,MONOPOLI/IC COMPETITION & ! P[] POLITICS CONNECT$ !RETO PROVIDE 5\< 9C5TIVE TO EMBROIL ! :OLE WORLD 9 W>4 ,YET :ATEV] ! PROPOSALS DEAL+ ) ! GOAL ( ! W>1 ALL ( !M PO9T TO ! CONTROL OV] MORE M5 & RES\RCES BY FEW] COMPET+ MONOPOLI/S4 ,EA* SIDE IS \T TO RE/RICT OR TO ELIM9ATE ! O!R4 ,JU/ AS MONOPOLIZATION NATIONALLY IS FO/]$ 9 ! NAME ( ! RE/ORATION ( DEMOCRATIC COMPETITION1 SO 9T]NATIONALLY IT IS FO/]$ BY ! QUE/ = EQUALITY 9 OPPORTUNITIES ON ! P>T ( ! 0HAVE-NOT0 NATIONS1 & BY ! FREE-TRADE PROMISES ( ! ,ATLANTIC ,*>T]4 

,9 EA* CAPITALI/IC NATION A LACK ( CAPITAL ) REG>D TO ! CAPITALI/IC-SOCIAL NE$S ( ACCUMULATION APPE>S AS A SURPLUS 9 ! H&S ( ! ,COMPETITIVE & MONOPOLI/IC 5TREPR5EURS4 ,9 A SIMIL> MANN] A %ORTAGE ( CAPITAL ) REG>D TO ! EXPANSION NE$S ( ! WORLD ECONOMY APPE>S 9 EA* CAPITALI/ NATION & EA* MONOPOLI/IC P[] BLOC AS A SURPLUS )\T PR(ITABLE 9VE/M5T POSSIBILITIES )9 !IR N>R[ /RUCTURES4 ,H5CE !IR ATTEMPTS TO WID5 ! /RUCTURE1 TO GA9 ,LEB5SRAUM1 TO CONC5TRATE ! WEAL? & POV]TY ( ! WORLD /ILL FUR!R4 ,! ,NEW ,DEAL BECOMES ! NEW WORLD W>4 ,C5TRALIZATION BY COMPETITION & LAW *ANGES 9TO C5TRALIZATION BY DIRECT =CE4 ,UNPR(ITABLE PRODUCTION & 0PYRAMID BUILD+0 *ANGES 9TO ! DE/RUCTION ( CAPITAL BY MILIT>Y MEANS4 

,9T]NATIONALLY1 H[EV]1 ! MONOPOLI/S DO NOT FACE ! WEAK] CAPITALI/S !Y FACE AT HOME4 ,!Y MEET O!R MONOPOLI/S4 ,! CAPITAL :I* IS 9SUFFICI5T TO ALL[ = ! PROGRESSIVE ACCUMULATION ( ! WORLD ECONOMY IS ALSO 9SUFFICI5T TO S]VE ! NE$S ( DE/RUCTION4 ,ALL AVAILABLE RES\RCES MU/ N[ BE US$ TO PROVIDE ! MEANS = ! IMP]IALI/S' /RUGGLE TO CREATE CONDITIONS UND] :I* ! MONOPOLI/IC SURVIVORS MAY ADD ! PR(ITS ( ! LOS]S TO !IR [N & ?US SECURE !IR FUR!R EXI/5CE4 ,JU/ LIKE CAPITAL ACCUMULATION1 ! W> SITUATION1 TOO1 MA/]S ! CAPITALI/S 9/EAD ( BE+ MA/]$ BY !M4 ,! W> ( MONOPOLI/S BECOMES MORE ?AN ?AT4 ,! RELEAS$ =CES ( DE/RUCTION 5=CE *ANGES 9 ! =M ( ! ECONOMY :I* GO BEYOND ! CONTROL & ! DESIRES ( ! RUL+ CLASS4 ,YET ! W> ITSELF TE/IFIES ?AT ! SUB/ANCE ( CAPITALISM IS /ILL 9TACT4 ,TO SATISFY ! DEM&S ( W>1 ! CAPITALI/S MU/ USE MORE & MORE ( ! SURPLUS LABOR &1 F9ALLY1 MORE ?AN JU/ ! SURPLUSES = PURPOSES ( W>1 :I* LEADS1 ON ! ONE H&1 TO ! ACCEL]AT$ C5TRALIZATION & CONC5TRATION ( CAPITAL & P[] 9 ! H&S ( ! MONOPOLI/IC GOV]NM5T &1 ON ! O!R1 TO A DECREAS+ PRODUCTIVITY BECAUSE ( ! IMPOV]I%M5T ( ! BROAD MASSES :O1 PAID BEL[ VALUE1 >E NO LONG] ABLE FULLY TO REPRODUCE !IR LABOR P[]4 ,! MORE EXT5SIVE1 ! MORE FEV]I% ! PRODUCTION = W>1 ! SMALL] >E ! *ANCES TO REA* ?AT PR(ITABILITY NE$$ = A NEW G5]AL UPSW+ ( ! CAPITALI/ WORLD4 

,V,I,I 

,MONOPOLIZATION1 GOV]NM5T CONTROL & ! NECESSITIES ( W> HAVE *ANG$ ! M>KET ECONOMY 9TO AN ADM9I/]$ M>KET ECONOMY4 ,IT IS WIDELY ASSUM$ ?AT !REBY IT BECOMES POSSIBLE CONSCI\SLY TO DIRECT ! ECONOMY ACCORD+ TO ONE PLAN OR ANO!R4 ,! $ITORS ( ,=TUNE.<#b#g.> = 9/ANCE1 PRON\NCE AS 0! LESSON ( W>1 ?AT ECONOMIC ME*ANISMS >E ! S]VANT1 NOT ! MA/]S1 ( MAN'S FATE40 ,9 !IR OP9ION ?IS IMPLIES ?AT 0POV]TY IS NOT 9EVITABLE ANY MORE40 ,!Y >E NOT DI/URB$ AT ALL BY ! GREATE/ IMPOV]I%M5T EV] EXP]I5C$ 9 MOD]N TIMES :5 9 L>GE P>TS ( ! WORLD MILLIONS ( PEOPLE >E LIT]ALLY />V+ TO DEA? & ! LUCKY ONES 9 O!R P>TS F9D !IR CONSUMPTION PROGRESSIVELY R$UC$4 ,= ?AT IS ONLY = ! PRES5T1 ! RESULT ( ! SATANIC PLANN+ ( ! ,AXIS4 ,! NEW TE*NOLOGY N[ DEVELOP$ WILL MAKE PO/W> LIFE BEAUTIFUL4 ,?US1 TOO1 ! TE*NOCRATIC-M9D$ ,/U>T ,*ASE.<#b#h.>1 TO GIVE ANO!R EXAMPLE1 HAS NO O!R WORRIES ?AN :AT TO DO ) \R SAV+S :5 ! W> IS OV]4 ,RECOGNIZ+ ?AT ! DECL9E ( ! M>KET CANNOT BE UNDONE1 & ALSO RECOGNIZ+ ?AT TRU/S1 MONOPOLIES1 C>TELS & TRADE ASSOCIATIONS1 ) !IR PRICE CONTROLS & PRODUCTION RE/RICTIONS1 >E NOT ! CAUSE BUT ! RESULT ( ! DECL9E 9 ! RATE ( EXPANSION1 HE F9DS ! SOLUTION = ! ECONOMIC PROBLEM 9 ! CONT9UATION ( ! POLICY ?AT RULES W> PRODUCTION :I* POLICY1 BY CONSID]+ PRICE A SECOND>Y MATT]1 LAYS B>E ! PHYSICAL BASIS ( ! ECONOMIC SY/EM4 ,WE MU/ KEEP ON ?9K+ 9 T]MS ( USE-VALUES 9/EAD ( 9 T]MS ( EX*ANGE-VALUES4 

,! DEPRESSION-BORN VOGUE ( TE*NOCRACY F\ND ITS ADH]5TS AMONG ! DISPOSSESS$ & AMONG ASPIRANTS ( ! EXP&+ BUREAUCRACY4 ,TODAY ! TE*NOLOGICAL TR5D ( ?\<T IS TAK5 UP BY ! SPOKESM5 = ! CAPITALI/S TO SUB/ANTIATE ! PROMISE ( A HAPPY LIFE JU/ >\ND ! CORN] ( ! W>4 ,EXI/+ MIS]IES >E ALWAYS JU/IFI$ BY PROMISES ( A BETT] FUTURE4 ,BUT !RE NEV] CAN BE A BETT] FUTURE )\T ! DIRECT BETT]+ ( ! PRES5T4 

,IT %\LD BE NOT$ ?AT IT IS NO LONG] CAPITALISM BUT 0SCI5CE0 ?AT N[ =MS ! BASIS = OPTIMISM4 0,EV5 DUR+ ! DEPRESSION10 WRITE ! $ITORS ( ,=TUNE1 0! SCI5TI/ /UCK TO HIS TASK1 DREAM+ UP NEW PRODUCTS & TE*NIQUES AS ?\< !RE WAS NO SU* ?+ AS 'OV]PRODUCTION4'0.<#b#i.> ,YET P]IODS ( DEPRESSION OR - :AT IS ! SAME - ( OV]PRODUCTION ( CAPITAL1 >E PRECISELY ?OSE 9 :I* ! SCI5TI/S 0DREAM UP0 NEW PRODUCTS & NEW TE*NIQUES TO 5ABLE !IR CAPITALI/IC MA/]S TO CONT9UE !IR EXPANSION4 ,OV]PRODUCTION ( CAPITAL IS ALWAYS ANSW]$ ) /ILL MORE OV]PRODUCTION4 0,SCI5CE0 )9 CAPITALISM CAN ONLY FUNCTION CAPITALI/ICALLY4 ,IT IS NOT ONLY 0A MI/AKE TO C\NT ON SCI5CE TO REMOLD ! WORLD 9 ACCORDANCE ) MAN'S BE/ 9T]E/S10 AS ! $ITORS ( ,=TUNE ADMIT2 IT IS ALSO A MI/AKE TO BELIEVE1 AS !Y DO1 ?AT 0SCI5CE CREATES ! CONDITIONS 9 :I* 9DIVIDUALISM1 A HEAL?Y FAMILY LIFE1 & A TRUE ,AM]ICAN CULTURE CAN FL\RI%40.<#c.> 

,! ?9K+ & ACT+ 9 T]MS ( USE-VALUES DOES NOT ALT] ! EX*ANGE-VALUE MOTIVATION 9 ANY WAY4 ,BO? REMA9 DET]M9$ BY ! SELF-PROPELL+1 CONTRADICTORY =CES ( CAPITAL ACCUMULATION & ALL ! SCI5CE ( ,=TUNE & ALL ! SEMANTICS ( ,/U>T ,*ASE CAN DO NO?+ AB\T IT4 ,BESIDES !RE IS NO?+ 0REVOLUTION>Y0 9 ?IS ATTITUDE ( CONSID]+ ! PHYSICAL BASIS ( ! ECONOMY4 ,CAPITAL ITSELF IS ! RESULT ( ! DIFF]5CE BETWE5 ! USE-VALUE ( LABOR P[] & ITS EX*ANGE VALUE2 ( ! PHYSICAL CAPACITY ( ! LABOR] TO CREATE MORE ?AN HE CONSUMES4 ,9 PRACTICE ?IS FACT IS ALWAYS RECOGNIZ$ BY ! CAPITALI/S' ACTIVITY 9 WID5+ ! GAP BETWE5 PRODUCTIVITY & WAGES4 ,IT IS HIDD5 ONLY 9 !ORY & IDEOLOGY4 ,TO LIFT ! VEIL A LITTLE1 TO RECOGNIZE ! PHYSICAL BASIS ( ! ECONOMY1 DOES NOT *ANGE ! ECONOMY 9 ANY RESPECT4 ,IT M]ELY REPLACES ONE CAPITALI/ IDEOLOGY ) ANO!R OR1 RA!R1 *ANGES ! T]MS ( ! SAME IDEOLOGY4 

,! FACT ?AT PEOPLE LE>N TO ?9K & ACT 9 T]MS ( MAT]IALS & MANP[] ONLY FACILITATES !IR UN*ANG$ ECONOMIC ACTIVITY4 ,IT M]ELY FO/]S ! REMOVAL ( SOME SUP]S$$ & UNESS5TIAL M$IAT+ FACTORS & AG5CIES )9 ! CAPITALI/IC CIRCULATION PROCESS4 ,O!RS TAKE !IR PLACE4 ,9ITIAT$ BY MONOPOLIZATION1 ! W> M]ELY ACCEL]ATES ?IS TR5D4 ,) ! MONOPOLI/IC CONTROL ( DIV]SE PRODUCTS1 NON-M>KET DI/RIBUTION = PURPOSES ( CAPITAL =MATION BECAME MORE DOM9ANT4 ,! NEW 0REVOLUTION>Y0 FISCAL POLICIES ( TODAY W]E =E%AD[$ BY ! 9CREAS+ SELF-F9ANC+ ( ! GREAT 9DU/RIAL COMB9ES4 ,! W>-RATION SY/EM F9DS ITS =]UNN] 9 *A9-/ORE PRACTICES & PRODUCT /&>DIZATION CONNECT$ !RE)4 ,9 BRIEF1 ?9K+ 9 PHYSICAL T]MS M]ELY REFLECTS ! MONOPOLI/IC ACTUALITY & CANNOT S]VE AS A PROGRAM = ! FUTURE4 ,TO ?9K CONSI/5TLY 9 ?IS DIRECTION LEADS TO A TOTALIT>IAN IDEOLOGY - TO EXACTLY ?AT :I* IS ALLEG$LY COMBAT$4 ,! FETI%ISMS ?AT RULE SOCIETY HAVE !IR BASIS 9 ! CLASS RELATIONS ?AT UND]LIE ALL ECONOMIC PH5OM5A4 ,! ONE CANNOT BE 5D$ )\T 5D+ ! O!R4 

,?OSE :O DO NOT RECOGNIZE CLASSES BECAUSE !Y BELONG TO OR SUPPORT ! RUL+ CLASS MAY IMAG9E ?AT ! NEW *ANGES 9 ! ECONOMY WILL ALL[ = ITS PLANN$ DIRECTION4 0,?ANKS TO ! ,T,N,E,C10 WRITE ! $ITORS ( ,=TUNE1 0! CONC5TRATION ( ECONOMIC P[] 9 ! ,U4 ,S4 IS NO LONG] A S9I/] SUPPOSITION1 BUT A MEASURABLE FACT4 ,BE+ MEASURABLE1 IT CAN BE H&L$40.<#c#a.> ,TO H&LE IT1 !Y PROPOSE 0A RETURN TO ! HI<] VALUES ( 9DIVIDUALISM4 ,! RE/ORATION ( ! CREATIVE1 RISK-TAK+1 PR(IT-SEEK+1 COMPETITIVE 9DIVIDUAL TO ! LEGITIMATE ?RONE ( A SOV]EIGN FREE M>KET40.<#c#b.> ,YET !Y 9SI/ ?AT ?IS 0C\NT]REVOLUTION IS NOT A RETURN TO LAISSEZ FAIRE10 BECAUSE1 0TO ACCOMPLI% ?IS RE/ORATION1 ! 9DIVIDUAL MU/ 5LI/ ! AID ( ! V]Y P[] ?AT HAS BE5 H>RAS+ HIM2 444 ! P[] ( GOV]NM5T40.<#c#b.> ,AS ! ECONOMIC P[] HAS ALREADY BE5 TRANSF]$ TO ,WA%+TON1 ! 0ONLY REALI/IC QUE/ION IS3 TO :AT USE WILL ?AT P[] BE PUT40.<#c#b.> ,IT %\LD NOT BE US$ AGA9/ BIGNESS ( 5T]PRISE = BIGNESS IS NOT ! ISSUE2 BUT IT %\LD RECONCILE 0! PR(\ND BUT P]PLEX+ ,AM]ICAN DESIRE = BO? SECURITY & FRE$OM4 ,! GOV]NM5T %\LD UND]WRITE ! :OLE ECONOMY1 US+ FISCAL CONTROLS1 PUBLIC WORKS1 & A BROAD] SOCIAL SECURITY PROGRAM1 SO ?AT EV]YONE :O WANTS & IS ABLE TO WORK MAY HAVE A REASONABLE *ANCE AT A JOB4 ,! GOV]NM5T %\LD RECOGNIZE ITS RESPONSIBILITY = ! HEAL? ( ! ECONOMY1 BY VIGILANTLY POLIC+ ! FREE M>KET & ACTIVELY 5C\RAG+ ! RISK-TAK+ 9DIVIDUAL40.<#c#c.> 

,?IS REQUE/ HAS1 ( C\RSE1 BE5 GRANT$ LONG S9CE4 0,BIG BUS9ESS10 DECL>$ ,H4 ,S4 ,TRUMAN1 *AIRMAN ( ! ,S5ATE ,COMMITTEE 9VE/IGAT+ ! W> PROGRAM1 0HAS %IFT$ 9TO \R BUREAUCRATIC AG5CIES1 SU* AS ! W> & NAVY DEP>TM5TS1 & ! W> PRODUCTION BO>D4 ,IT HAS PLAC$ ?\S&S ( ITS REPRES5TATIVES 9 KEY POSITIONS 9 ,WA%+TON4.<#c#d.> ,H]E ! 0RISK-TAK+ 9DIVIDUAL0 ASS]TS HIMSELF 9 ! 9T]E/S ( A 0TRUE ,AM]ICAN CULTURE10 & ! GOV]NM5T HAS GIV5 EV]YBODY )\T MEANS A 0REASONABLE *ANCE0 TO 0WORK OR FI<T40 ,ALL ! 0PLANN+0 ?AT IS DONE IS DONE 9 ! 9T]E/ ( ! RUL+ CLASS & OPPOSES ! 0PLANN+0 ( O!R RUL+ CLASSES1 JU/ AS ! 0PLANN+0 9 ONE P>TICUL> FACTORY OR 9DU/RY OPPOSES ?AT ( ANO!R4 ,IF1 9 ! LATT] CASE1 ! RESULT IS ! AN>*Y ( COMPETITION1 9 ! =M] IT IS ! AN>*Y ( W>4 ,9 BO? CASES !RE IS NO PLANN+ 9 A SOCIO-ECONOMIC S5SE1 BUT ONLY AN ORGANIZ$ ONSLAU<T AGA9/ ! LIVES & 9T]E/S ( ALL ! RUL$ ALL OV] ! WORLD4 

,IF BIG BUS9ESS WANTS TO UTILIZE ! 9CREAS$ GOV]NM5TAL P[]S = ITS [N PURPOSES1 ! ECONOMIC J\RNALI/S ( LIB]ALISM WANT TO SEE IT UTILIZ$ 9 ! 9T]E/ ( ! POPULATION AS A :OLE4 ,BUT H]E !Y FACE A GREAT DILEMMA4 ,TO DIM9I% ! SURPLUSES ( ! MONOPOLIES 9 FAVOR ( 0SMALL BUS9ESS0 LEADS TO ! MONOPOLIZATION ( ! LATT]2 ! DE/RUCTION ( SOME MONOPOLIES LEADS TO ! E/ABLI%M5T ( O!RS4 ,IT IS1 ( C\RSE1 0CONCEIVBLE0 .<SIC.> ?AT ALL MONOPOLIZATION MAY BE =BIDD5 BY LAW1 JU/ AS ! JOB TRU/S ( ! TRADE UNIONS HAVE BE5 \TLAW$ 9 ! TOTALIT>IAN /ATES4 ,BUT 9 ?AT CASE ALL SMALL] MONOPOLIES W\LD BE DISSOLV$ 9 ! 0P]FECT0 /ATE-MONOPOLY4 ,TO ESCAPE ?IS CONCLUSION1 ! ANTI-MONOPOLI/S RETURN ONCE MORE TO ,ADAM ,SMI?1 :OSE 0POLITICAL ECONOMY WAS S\ND 9 ITS 9SI/5CE ON FREE 5T]PRISE & ON ! SEP>ATION ( ECONOMIC FROM POLITICAL P[]40.<#c#e.> ,H[EV]1 WRITES ,LEWIS ,COREY1 ?\< HE 0F\<T AGA9/ M]CANTALI/ MONOPOLY HE DID NOT =ESEE ! CAPITALI/ MONOPOLY :I* N[ DE/ROYS ECONOMIC FRE$OM10 & ?US WE 0NE$ TO USE GOV]NM5T MORE ?AN ,ADAM ,SMI? 5VISAG$40.<#c#e.> ,MORE1 BUT NOT TOO MU*4 ,! NEW POLITICAL ECONOMY MU/ 0USE GOV]NM5T TO DE/ROY MONOPOLY BY TRANS=M+ IT 9TO FREE PUBLIC 5T]PRISE 9 ! =M ( PUBLIC CORPORATIONS1 ON :OSE BO>DS ( DIRECTORS >E PRES5T$ MANAGEM5T1 LABOR UNIONS & CONSUM]S1 ?AT >E L>GELY 9DEP5D5T ( ! /ATE4 ,BY KEEP+ & /R5G!N+ FREE 5T]PRISE 9 ! =M ( 9DEP5D5T BUS9ESS & F>M+1 ( 9DEP5D5T COOP]ATIVES1 9DEP5D5T LABOR UNIONS 444 A NEW SY/EM ( *ECKS & BALANCES WILL CREAT$ PREV5T+ C5TRALIZATION ( ECONOMIC P[] 9 A NEW TYRANNY40.<#c#e.> ,M]E V]BIAGE ACCOMPLI%ES H]E ! RECONCILIATION ( ! IRRECONCILABLE4 ,! 5D ( CAPITAL CONC5TRATION & ! DE/RUCTION ( MONOPOLY MEANS ALSO ! 5D ( FREE 5T]PRISE & COMPETITION1 ! 5D ( CAPITALISM ITSELF4 ,TO SQU>E ! TR5D T[>DS FUR!R CONC5TRATION ) ! ALLEG$ /RUGGLE = DEMOCRACY1 FREE 5T]PRISE & COMPETITION BY WAY ( ! GOV]NM5T 5=C$ 0DEMOCRATIZATION ( ! MONOPOLIES0 M]ELY ELEVATES ! ORD9>Y MONOPOLI/IC W> PROPAG&A 9TO AN 0ECONOMIC !ORY40 

,NO D\BT IT SEEMS PLAUSIBLE ?AT ! ELIM9ATION ( MONOPOLI/IC EXTRA-PR(ITS W\LD B5EFIT NOT ONLY ! SMALL BUS9ESS M5 BUT ! WORK+ CLASS AS WELL4 ,IT SEEMS ESPECIALLY PLAUSIBLE BECAUSE IT IS ALWAYS TAK5 = GRANT$ ?AT ! 5D ( ! RULE ( ! MONOPOLIES WILL NOT EFFECT ! TRADE UNIONS :I* WILL BE ABLE TO 5=CE WAGE 9CREASES & TRANSF] PUR*AS+ P[] T[>DS CONSUMPTION GOODS S9CE !Y N[ FACE A WEAK] 5EMY4 ,9 ! C\RSE ( TIME ! :OLE ECONOMY W\LD ASSUME MORE & MORE ! *>ACT] ( PRODUCTION-=-CONSUMPTION 9/EAD ( = CAPITAL4 ,ALL DEP5DS ON ! EXI/5CE ( A B5EVOL5T GOV]NM5T ?AT CONTROLS SOCIETY 9 ! 9T]E/S ( ! :OLE & - NOT TO DEVIATE FROM ITS TASK - IS1 9 TURN1 CONTROLL$ BY ?OSE IT CONTROLS4 

,& ?US :E!R 9 A TE*NOLOGICAL1 SCI5TIFIC OR ECONOMIC SETT+ EA* HOPEFUL ATTITUDE T[>DS ! FUTURE DEP5DS ON GOV]NM5T CONTROL ( ! SOCIAL LIFE4 ,ONLY ! DEGREE ( /ATE 9T]F]5CE DO ! !ORI/S DEBATE1 & ?IS ONLY DUR+ ! TRANSITORY /AGE FROM MONOPOLY TO GOV]NM5T CONTROL4 ,9 ,RUSSIA & ,G]MANY !Y >E ALL ( ! SAME OP9ION4 ,PREVI\SLY1 GOV]NM5T WAS ?\<T TO /& 9DEP5D5TLY ABOVE SOCIAL FACTION 9 ORD] TO PRES]VE ORD]2 N[ ITS DOM9AT+ POSITION LEADS TO ! BELIEF ?AT IT ELIM9ATES ! CLASS *>ACT] ( SOCIETY ALTOGE!R4 ,9 TE*NOCRACY AS WELL AS 9 MOD]N ECONOMICS ! DI/9CTION BETWE5 CAPITALISM & SOCIALISM DISAPPE>S4 

,! OLD NONS5SE ?AT ECONOMICS HAS TO DO ) HUMAN BEHAVIOR AS A RELATION%IP BETWE5 5DS & SC>CE MEANS :I* HAVE ALT]NATIVE USES IS N[ ACCEPT$ ALMO/ G5]ALLY ) ?IS DIFF]5CE1 H[EV]1 ?AT ! GOV]NM5T MU/ N[ DO :AT ! M>KET NO LONG] FULFILLS SATISFACTORILY4 ,ECONOMICS IS R$UC$ TO A M]E TE*NIQUE TO BE EMPLOY$ BY ! GOV]NM5T TO SATISFY DEM& & ! PROP] ALLOCATION ( RES\RCES BY A PRIC+ SY/EM BAS$ ON M>G9AL PR9CIPLES4 ,EV5 ! DIFF]5CE BETWE5 0! TRADITIONAL ,M>XI/ & ! MOD]N POSITION0 9 REG>D TO !SE QUE/IONS IS DESCRIB$ AS 0BUT A DIFF]5CE AS TO ! TE*NIQUE APPLI$40.<#c#f.> ,) MA!MATICAL PRECISION IT IS DEMON/RAT$ - ON PAP] - ?AT GOV]NM5T PRIC+ & FISCAL POLICIES :I* BALANCE SUPPLY & DEM& C\LD GU>ANTEE FULL EMPLOYM5T & ! OPTIMUM USE ( RES\RCES4 ,IF ?IS W\LD BE ACCOMPLI%$1 ! 0PHILOSOPHICALLY 9CL9$ C\LD SPECULATE = A LONG TIME :E!R ! SOCIETY WAS CAPITALI/IC OR SOCIALI/IC40.<#c#g.> 

,SITUATIONS :I* W]E HI!RTO M]ELY ! UNREALI/IC ASSUMPTIONS ( /ATIC EQUILIBRIUM !ORIES >E F\ND TODAY TO BE REALIZABLE BY VIRTUE ( GOV]NM5TAL CONTROL4 ,EV5 PURE COMPETITION !ORI/S DO NOT HESITATE TO ADVOCATE CONTROLL$ 9/ITUTIONAL MONOPOLIES TO 5=CE 0P]FECTION0 ( COMPETITION1 JU/ AS /ATE-CAPITALI/ !ORI/S1 BY DEF9+ COMPETITION 9 0FUNCTIONAL T]MS01 ?AT IS1 AS ! CORRECT ALLOCATION ( RES\RCES1 ATTEMPT TO 9CORPORATE ! COMPETITIVE PR9CIPLES 9 !IR AU?ORIT>IAN SET-UP1 SO COMPETITION !ORI/S BELIEVE ?AT COMPETITIVE RESULTS MAY BE A*IEV$ BY WAY ( MONOPOLI/IC 9/ITUTIONS4 ,= 9 SU* A DEF9ITION 0! EXT5T TO :I* ANY PROCESS1 PRACTICE1 LAW OR 9/ITUTION CON/ITUTES TO ! OPTIMUM ALLOCATION ( RES\RCES DET]M9ES :E!R IT IS TO BE CLASS$ AS ECONOMICALLY COMPETITIVE OR NOT40.<#c#h.> ,FROM ?IS POSITION IT IS NOT 9CONSI/5T = POLITICAL AU?ORIT>IANISM TO ACT 9 ! NAME ( DEMOCRACY1 OR = DEMOCRACIES TO APPLY AU?ORIT>IAN PR9CIPLES4 ,EV]YBODY'S 9CONSI/5CIES >E REMOV$ BY A SIMPLE R$EF9ITION ( T]MS4 

,! GREAT CONC]N ( ! ECONOMI/S ) ! 0ECONOMIC OPTIMUM01 IMPLY+ ! MO/ ECONOMICAL ALLOCATION ( RES\RCES1 SPR+S FROM ! OLD ILLUSION ?AT CAPITALI/IC PR9CIPLES >E ECONOMIC PR9CIPLES4 ,ON ! BASIS ( ?IS ILLUSION1 !Y APPLY !IR ECONOMIC PR9CIPLES TO ALL =MS ( SOCIETY REG>DLESS ( ! P>TICUL>ITY ( ! SOCIAL RELATIONS4 ,BUT BEH9D !IR APP>5T TIMELESSNESS IS REVEAL$ !IR SPECIFIC1 HI/ORICAL1 CAPITALI/IC *>ACT]4 ,= CAPITALISM IS NOT A SOCIAL PRODUCTION BUT SOCIETY PRODUCTION = CAPITAL4 ,PRECISELY 9 ITS DISREG>D = SOCIAL RELATIONS & 9 ITS EMPHASIS ON 5DS & MEANS !RE COMES TO LI<T ?AT P>TICUL> SOCIAL RELATION%IP ?AT CON/ITUTES CAPITALISM - ! DIVISION ( SOCIETY 9TO EXPLOIT]S & EXPLOIT$4 ,9 ORD] TO IGNORE ?IS DIVISION1 ECONOMICS HAS TO CONC]N ITSELF ) ! BETT]+ ( ! EXI/+ /ATE ( AFFAIRS )\T ALT]+ IT4 ,= ! ECONOMI/ A 0BETT] /ATE ( AFFAIRS0 MEANS A MORE 0ECONOMICAL0 ONE2 ! BETT] ALLOCATION ( RES\RCES & !IR FULL] USE = ! GIV5 0SOCIAL 5DS0 - :ATEV] !Y MI<T BE4 ,RI<T N[ !Y HAPP5 TO BE W> & VICTORY1 YE/]DAY !Y W]E COMPETITION & ACCUMULATION )\T EXT5SIVE W>F>E4 

,! RUL+ ECONOMIC !ORIES >E SO CON/RUCT$ ?AT !Y CAN ALWAYS S]VE CAPITALI/IC NE$S REG>DLESS H[ (T5 OR TO :AT EXT5T ! =M ( CAPITALISM MI<T *ANGE4 ,!IR GREAT ADAPTABILITY TO ACTUAL CAPITALI/IC *ANGES BR+S TO LI<T ONCE MORE ?AT !IR QU>RELS AB\T COMPETITION1 MONOPOLY & /ATE CONTROL DO NOT T\* ! REAL PROBLEM ( CAPITALISM BUT DEAL ) ! PROBLEMS ( CAPITALI/S :I* >ISE 9 !IR /RUGGLES OV] E DIVISION ( SURPLUS VALUE4 ,IF ?IS GREAT ADAPTABILITY HAS L$ TO A R$EF9+ ( T]MS EQUAT+ MONOPOLY & COMPETITION IT ALSO CONTA9S1 ( C\RSE1 ! RELUCTANT CONFESSION ?AT ,M>X WAS RI<T AFT] ALL 9 HIS 9SI/5CE ?AT MONOPOLY IMPLIES COMPETITION & COMPETITION1 MONOPOLY4 

,) FEW EXCEPTIONS1 !N1 ECONOMIC !ORY E*OES BO? ! ACTUAL ECONOMIC POLICY & ! PROPAG&A ACCOMPANY+ IT4 ,BY ITSELF IT HAS NO?+ TO (F] BUT ! !ORY ( ! EQUATION ( SACRIFICE & DESIRE BY WAY ( DEM& & PRICE =MATION :I*1 ALREADY RIDICUL\S 9 VIEW ( DEPRESSIONS1 IS MADE UTT]LY NONS5SICAL BY W>4 ,! PRES5T-DAY OPTIMISM ( ! ECONOMI/S OV] ASSUM$ PLANN+ POSSIBILITIES & ! ASSUM$ TR5D T[>DS A WELF>E ECONOMY BY VIRTUE1 OR ) ! HELP ( GOV]NM5T CONTROL IS )\T ANY JU/IFICATION4 ,?\< IT IS TRUE ?AT = QUITE A :ILE ECONOMY T5D$ T[>DS A PRODUCTION = CONSUMPTION GOODS.<#c#i.>1 ?IS WAS M]ELY AN 9DICATION ( ! GREAT DILEMMA 9 :I* CAPITALISM F\ND ITSELF4 ,& ?\< IT IS TRUE1 AS MANY ECONOMI/S 7,HICKS1 ,HANS51 ,KEYNES1 ,WALLACE & O!RS7 HAVE REALIZ$ - 9 CONTRA/ TO TRADITIONAL IDEAS - ?AT ! GREATE/ FLEXIBILITY ( PRICES BY WAY ( COMPETITION C\LD NOT GU>ANTEE ECONOMIC /ABILITY & SOCIAL WELF>E1 !IR [N SUGGE/IONS 9 ?IS DIRECTION 9 FAVOR ( PRICE /ABILIZATION & GOV]NM5T 9T]F]5CES >E ALSO NO ANTIDOTE = DEPRESSIONS4 ,! CONTRADICTIONS ( CAPITALISM DO NOT TURN OV]NI<T 9TO BLESS+S M]ELY BECAUSE ! GOV]NM5T F9DS IT CONV5I5T TO SPEAK 9 T]MS ( SOCIAL WELF>E 9 ORD] TO KEEP UP NATIONAL MORALE & TO KEEP D[N ITS [N BAD CONSCI5CE 9 ?IS1 CAPITALISM'S 0W> ( SURVIVAL40 

,V,I,I,I 

,IF IT SEEMS 0PLAUSIBLE0 TO WRIT]S LIKE ,LEWIS ,COREY ?AT CONDITIONS ( ! PA/ CAN BE RE/OR$ BY DE/ROY+ ! MONOPOLIES ) ! HELP ( A GOV]NM5T O!RWISE RE/RICT$ 9 ITS P[] & YET A*IEVE A SORT ( 0SOCIALISM0 - ?AT IS1 PRODUCTION = CONSUMPTION :I*1 ( C\RSE1 C\LD NET MEAN ! CONSPICU\S CONSUMPTION ( ! CAPITALI/S BUT ?AT ( ! MASSES - ?IS 0PLAUSIBILITY0 HAS NO O!R BASIS ?AN ! WI% TO S]VE ! P[]S ?AT RULE TODAY4 ,! 9NOC5T >E NEV]!LESS CAPABLE ( BE+ TAK5 9 BY SU* PROPAG&A4 ,!Y DESIRE A BETT] FUTURE & 9 !IR P[]LESSNES .<SIC.> >E ONLY TOO WILL+ TO BELIEVE 9 IT 9 ORD] TO MAKE !IR PRES5T LOT MORE BE>ABLE4 ,SU* PEOPLE MU/ BE REM9D$ ?AT ! E>LY P]IOD ( CAPITALI/ DEVELOPM5T ) ITS WIDE-SPREAD COMPETITION & ITS DIVISION ( P[]S KNEW AN EV5 GREAT] MIS]Y ( ! WORK]S ?AN ! P]IOD ( MONOPOLIZATION & ! CONTRACTION ( POLITICAL P[]4 ,MONOPOLY IS NEI!R A GREAT] NOR A LESS] 5EMY ( ! WORK+ CLASS ?AN IS COMPETITIVE BUS9ESS4 

,! BETT]M5T ( ! LABOR]S LIV+ CONDITIONS )9 ! CAPITALI/IC DEVELOPM5T WAS NOT DUE TO A GR[+ HUMANIT>IANISM ( ! CAPITALI/ CLASS1 & NOT EV5 DUE TO ! WAGE /RUGGLES ON ! P>T ( ! WORK]3 ,BACK ( ?IS BETT]M5T WAS ! FACT ?AT ! PRODUCTIVITY ( ! WORK]S WAS RAIS$ TO AN EXT5T :I* ALL[$ !M TO CONSUME MORE AL?\< !Y RECEIV$ 9CREAS+LY LESS FROM SOCIETY'S TOTAL PRODUCTION4 ,GREAT] EXPLOITATION IMPROV$ LIV+ CONDITIONS4 ,BUT GREAT] EXPLOITATION IMPLI$ CAPITAL CONC5TRATION & MONOPOLIZATION4 ,IT IS ?US IMPOSSIBLE TO ADVOCATE A SPECIAL OPPOSITION TO MONOPOLY ON ! P>T ( ! WORK+ CLASS4 ,! WORK]S' OPPOSITION MU/ BEG9 & 5D ) CAPITALISM4 

,?OSE :O >E NOT OPPOS$ TO CAPITALISM HAVE NO *OICE BUT TO FAVOR MONOPOLY4 0,! TRADE UNIONS1 SEEK+ IMPROV$ LABOR CONDITIONS & BETT] $UCATIONAL OPPORTUNITIES1 F9D IT MU* EASI] TO COME TO T]MS ) ! BIG MONOPOLIES ?AN ) ! G5]AL RUN ( SMALL] FIRMS1 & >E CONSEQU5TLY APT TO FAVOR ! BIG BUS9ESS 9T]E/S :5 !Y CLA% ) ?OSE ( ! SMALL] FIRMS40.<#d.> ,( C\RSE1 9 ! LA/ RESORT1 0SU* AN ATTITUDE CANNOT POSSIBLY B5EFIT MORE ?AN A FRACTION ( ! WORK+ CLASS2 = EV5 IF ! MONOPOLI/S >E READY TO %>E PR(ITS ) !IR EMPLOYES1 MONOPOLY PR(ITS MU/ COME FROM SOME:]E1 & ?AT 9 PRACTICE MEANS ?AT A L>GE P>T ( IT MU/ BE EXTRACT$ FROM ! WORK]S :O >E NOT 9 PRIVILEG$ EMPLOYM5T4 ,YET ! WORK]S CANNOT POSSIBLY F9D ALLIES 9 ! SMALL] CAPITALI/S1 :O >E 9DUC$ BY !IR 9F]IOR B>GA9+ POSITION 9 ! M>KET TO BE LESS LIB]AL 9 !IR TREATM5T ( LABOR40.<#d.> 

,AT ANY RATE1 MONOPOLY ?AT SPLITS ! CAPITALI/ CLASS ALSO SPLITS ! WORK+ CLASS4.<#d#a.> ,IF ! EXI/+ WAGE DIFF]5TIATIONS 9 EA* CAPITALI/ C\NTRY WELD P>TS ( ! WORK+ CLASS TO ! MONOPOLI/S1 9 ! WORLD AT L>G] WORK]S SUPPORT !IR GOV]NM5T AGA9/ O!RS 9 ORD] TO SECURE OR TO GA9 A PRIVILEG$ POSITION 9 ! %ADE ( !IR NATION'S PRIVILEGES4 ,BECAUSE SOME ( ! WORK]S ALLY !MSELVES ) !IR RUL]S 9 ORD] TO SAFEGU>D !IR IMM$IATE 9T]E/S1 O!RS HAVE NO *OICE BUT TO FOLL[ !IR LEAD4 ,!RE IS NO GREAT] HYPOCRISY ?AN ?AT ( LABOR LEAD]S & !IR FOLL[]S :O SPEAK ( ! LIB]ATION ( ! WORK+ CLASS AS A :OLE & ! LIB]ATION ( SUPPRESS$ PEOPLES FROM IMP]IALI/IC RULE :5 AT ! SAME TIME !IR ACTIVITY AT HOME & !IR P>TICIPATION 9 W> HELPS TO SECURE CAPITALI/ EXPLOITATION & TO EXT5D IT OV] /ILL MORE PEOPLE & TO 9CLUDE EV5 ! COLONIZATION ( ! DEFEAT$ COLONIZ]S4 

,9 ?IS SITUATION LIES ! HOPE = CAPITALISM4 0,AS WAS EVID5T FROM ! LA/ W> & ! 5SU+ LONG DEPRESSION1 CAPITALISM WAS HEAD$ = DE/RUCTION4 ,YET IT DID NOT COLLAPSE BUT REGA9$ /R5G? = ANO!R ATTEMPT TO SOLVE ! CRISIS CAPITALI/ICALLY4 ,SOCIAL RELATIONS DO NOT COLLAPSE LIKE A H\SE ON ROTT5 F\NDATIONS2 !Y MU/ BE *ANG$ BY 9DEP5D5T ACTION ON ! P>T ( ! WORK+ CLASS4 ,BUT !RE >E NO SIGNS 9 ?IS DIRECTION4 ,& !RE IS NO TELL+ H[ LONG A P>TICUL> SOCIAL RELATION%IP MAY EXI/ UND] ! MO/ 9TOL]ABLE CONDITIONS1 ESPECIALLY IF ?IS RELATION%IP CONC5TRATES ALL P[] 9 ! H&S ( AN UNREMOVABLE M9ORITY & IF ! SOCIETY1 ?\< NOT AT ALL *ANG+ SUB/ANTIALLY1 *ANGES CONT9U\SLY 9 NON-ESS5TIALS4 

,! W>1 = 9/ANCE1 *ANGES MANY ?+S3 FROM ! GREAT] COMRADE%IP BETWE5 PRIVATE & (FIC] :5 FAC$ BY ! 5EMY TO ! CONTROL ( W> PR(ITS BY ! LEAD]S OR REPRES5TATIVES ( ! PEOPLE4 ,NOT ONLY ! ,RUSSIANS & ,G]MANS BUT ALL ! P>TICIPANTS 9 ?IS W> SPEAK N[ 9 T]MS ( SOCIALISM4 ,AL?\< 9 ! DEMOCRATIC C\NTRIES IT IS >GU$ ?AT ! W> MU/ FIR/ BE WON BE=E ! RULE ( ! COMMON MAN MAY BEG91 EV5 ! MO/ REACTION>Y /ATESM5 SEEM TO FAVOR SOCIAL LEGISLATION DESIGN$ TO 5D 9SECURITY4 ,NEV]!LESS1 EV]Y PROPOSAL 9 ?IS DIRECTION 9CORPORATES ! CONT9UATION ( CAPITALI/ CLASS RELATIONS4 

,IT MU/ ALSO NOT BE OV]LOOK$ :O ! PEOPLE >E :O SPEAK TODAY = A WELF>E ECONOMY TOMORR[4 0,ANY ONE :O ANALYZES ! COMPOSITION ( ! ,CONS]VATIVE P>TY 9 ! ,H\SE ( ,COMMONS10 WRITES ,H4 ,J4 ,LASKI1 0CANNOT AVOID ! CONCLUSION ?AT ITS ESS5TIAL PURPOSE IS ! PROTECTION ( ! 9T]E/S ( PRIVATE PROP]TY 9 ! MEANS ( PRODUCTION4 ,=TY-F\R P] C5T ( !M >E DIRECTORS ( PUBLIC COMPANIES2 BETWE5 !M HOLD NE>LY #a1#h DIRECTOR%IPS4 ,ALL IMPORTANT ECONOMIC 9T]E/S >E REPRES5T$ H]E - BANKS1 9SURANCE1 RAILWAYS1 %IPP+1 IRON1 /EEL1 5G9E]+1 TEXTILES1 ELECTRICITY SUPPLY1 COAL1 OIL1 TOBACCO1 FOOD/UFFS1 NEWSPAP]S & SO =?40.<#d#b.> ,AS YET1 5D+ ! P[] & 9FLU5CE ( PRIVATE CAPITAL IS NO MORE ?AN A POSSIBILITY ( ! FUTURE4 0,! V]Y RI*10 WRITES ,NI*OLAS ,DAV5PORT1 0REMA9 JU/ AS RI* & P[]FUL AS BE=E1 = ! SIMPLE REASON ?AT !Y RETA9 !IR CAPITAL & !IR HOLD ( ! NATIONAL WEAL?4 ,TRUE1 ! ,GOV]NM5T HAS REQUISITION$ SECURITIES & /OCK ( MAT]IALS1 BUT IT HAS GIV5 ! =M] [N]S CA% OR ,GOV]NM5T /OCK 9 EX*ANGE4 ,! =M] [N]S ( CAPITAL HAVE M]ELY RECEIV$ CLAIMS ON \R FUTURE WEAL?4 ,?R\< \T ALL ! W> 9DU/RIES PRIVATE [N]%IP & CONTROL ( PLANT REMA9 ! RULE ( \R W>TIME ECONOMY4 ,:5 ! ,GOV]NM5T HAS TO EXC]CISE .<SIC.> SOME SORT ( AU?ORIT>IAN REGIME IT USUALLY DOES SO BY ASK+ 'BIG BUS9ESS' TO ADM9I/] ! CONTROLS ( !IR [N CAPITAL40.<#d#c.> 

,?US F> ! W> IS A W> BETWE5 MONOPOLISM & TOTALIT>IANISM4 ,TOTALIT>IANISM IS ! ATTEMPT ( WEAK] MONOPOLI/IC GR\PS TO BEAT ! /RONG] ONES 9 A SUP]-MONOPOLI/IC WAY BY ! MORE ?OR\< CONC5TRATION ( ALL POSSIBLE P[]S 9 ! H&S ( A MORE C5TRALIZ$ DIRECT+ =CE4 ,! MONOPOLI/IC GOV]NM5TS C\NT] ?IS ATTEMPT BY TRANS=M+ !MSELVES 9TO SIMIL> GOV]NM5T-CONTROLL$ SUP]-MONOPOLIES4 ,= !M !RE IS NO ANSW] TO TOTALIT>IANISM BUT TOTALIT>IANISM4 

,! *>ACT] ( ! W> AS A /RUGGLE BETWE5 TOTALIT>IANISM & MONOPOLY IS NOT ALT]$ BY ALLI5CES .<SIC.> ( MONOPOLI/IC DEMOCRACIES ) TOTALIT>IAN /ATES SU* AS ,RUSSIA & ,*9A4 ,IMP]IALI/IC NE$S & DEF5SE NECESSITIES AT TIMES TRANSC5D 9T]NAL DIFF]5CES BETWE5 ALLI$ NATIONS4 ,?IS ALSO DEMON/RATES ! MIX+ & OV]LAPP+ ( MANY /RUGGLES ( V>I\S GR\PS DUR+ A P>TICUL> HI/ORICAL P]IOD4 ,RUSSIA'S TOTALIT>IANISM IS ! PRODUCT ( ! LA/ W>4 ,IT WAS DESIGN$ TO LEAD TO A QUICK 9DU/RIALIZATION & TO PREV5T EXPLOITATION & CONTROL BY =EIGN IMP]IALISMS4 ,G]MAN TOTALIT>IANISM1 ! PRODUCT ( ! ,GREAT ,DEPRESSION1 IS AN ATTEMPT TO SOLVE IMP]IALI/ICALLY :AT C\LD NOT BE SOLV$ BY TRADITIONAL ECONOMIC MEANS4 ,! GR[+ TOTALIT>IANISM 9 ,5GL& & ,AM]ICA IS ! RESULT ( ! HEW W> & SPR+S FROM ! DESIRE TO SAFEGU>D ! CAPITALI/IC =CES :I* >E ?REAT5$ BY ,G]MAN IMP]IALISM4 ,COM+ TO LIFE AT DIFF]5T TIMES & UND] DIFF]5T CONDITIONS1 EA* TOTALIT>IAN /ATE HAS *>ACT]I/ICS ( ITS [N4 ,FROM A LONG-RANGE PO9T ( VIEW ?IS 9DIVIDUALISM DISAPPE>S1 H[EV]4 ,9 ! MATT] ( CAPITALISM1 !RE IS NO DIFF]5CE BETWE5 DEMOCRATIC1 MONOPOLI/IC OR /ATE CAPITALISM4 ,9 ! MATT] ( CAPITALI/S1 ! ,RUSSIANS >E DIFF]5T FROM ! ,G]MANS & ! ,G]MANS FROM ! ,AM]ICAN4 ,FUR!RMORE1 A ,RUSSIAN COMMISS> >RIVES AT & DEF5DS HIS POSITION 9 A MANN] DIFF]5T FROM ?AT ( AN ,5GLI% FACTORY [N]4 ,! ,GO]+ ,WORKS HAVE QUITE A DIFF]5T HI/ORY FROM ! ,UNIT$ ,/EEL ,TRU/4 ,YET :ATEV] DIFF]5CES EXI/ BETWE5 ! V>I\S [N]S & CONTROLL]S ( CAPITAL1 !Y ALL ACT ALIKE4 

,! EXPANSION & CONC5TRATION ( CAPITALISM OCCUR SIMULTANE\SLY & RESULT 9 ! C5TRALIZATION ( ECONOMIC & POLITICAL P[]4 ,?IS TR5D - UNAVOIDABLE SO LONG AS CAPITALISM LA/S - CAN ( C\RSE TEMPOR>ILY BE ,9FLU5C$ EI!R POSITIVELY OR NEGATIVELY4 ,! /ATUS QUO CAN BE RETA9$ OR IT CAN BE BROK54 ,:E!R ONE OR ! O!R HAPP5S1 ONE OR ANO!R GR\P ( 9T]E/S1 OR A P>TICUL> COMB9ATION ( 9T]E/S1 MU/ RULE4 ,DET]M9$ BY ECONOMIC CLASS RELATIONS1 CAPITALI/ DEVELOPM5T IS EXECUT$1 H[EV]1 BY WAY ( /RUGGLES BETWE5 CLASSES1 GR\PS1 CLIQUES & 9DIVIDUALS4 ,! *ANGE ( RUL]S OCCUR+ 9 !SE /RUGGLES CREATES ! ILLUSION ?AT HI/ORY IS MADE BY M54 ,YET 9 ALL NATIONS ALL RUL]S ALWAYS ACT 9 ! SAME WAY :ATEV] PHILOSOPHY !Y PR(ESS TO BELIEVE 9 - ?AT IS1 !Y ALL DIVIDE SOCIETY & KEEP IT DIVID$ BETWE5 !MSELVES AS RUL]S & CONTROLL]S ON ! ONE H& & ! RUL] & EXPLOIT$ ON ! O!R4 ,& !Y ALL TRY TO DEF5D !MSELVES AGA9/ O!R RUL+ GR\PS1 OR TRY TO ELIM9ATE O!R RUL+ GR\PS BY WAY ( PEACE & W>4 

,:5 ,5GLI% OR ,AM]ICAN CAPITALI/S SPEAK ( ,G]MAN FASCISM AS ! MORTAL 5EMY1 !Y MEAN NOT ONLY ,G]MAN IMP]IALISM BUT ALSO ! SUBORD9ATION ( ! 9DIVIDUAL CAPITALI/ TO ! /ATE AS PRACTIC$ !RE4 ,9 FI<T+ ,G]MAN FASCISM !Y HOPE ALSO TO REMOVE ! ?REAT ( !IR [N DISPLACEM5T BY FASCI/ BUREAUCRATS4 ,! FACT ?AT MANY ,G]MAN CAPITALI/S REMA9$ CAPITALI/S & EV5 BECAME BIGG] CAPITALI/S UND] FASCISM IS NOT 5\< TO QUIET !IR FE>S1 = !Y CANNOT BE SURE ?AT !Y WILL BELONG TO ?OSE :O RETA9 PRIVILEG$ POSITIONS - ESPECIALLY NOT IF !Y BELONG TO A NATION CONTROLL$ OR DEFEAT$ BY ,G]MAN IMP]IALISM4 ,EV5 IF ,5GLI% & ,AM]ICAN CAPITALI/S ?9K !MSELVES CAPABLE ( )/&+ COMPETITION BY O!R CAPITALI/S1 !Y KN[ ?AT !Y CANNOT )/& ! DICTATES ( A TOTALIT>IAN GOV]NM5T4 

,! TOTALIT>IAN ?REAT ?AT COMES FROM ,RUSSIA IS QUITE SECOND>Y TO ?AT /EMM+ FROM ,G]MANY1 = AT ?IS TIME ONLY ! LATT] NATION IS ABLE TO *ALL5GE ,ANGLO-,AM]ICAN CAPITALISM4 ,! DEFEAT ( ,G]MANY W\LD BR+ WE/]N ,EUROPE 9TO ! ORBIT ( ,ANGLO-,AM]ICAN IMP]IALISM1 JU/ AS ! DEFEAT ( ,FRANCE MADE H] - H[EV] UNEASY - AN ALLY ( ,G]MANY4 ,! 0RUL]S0 ( ! 0NEW ,EUROPE0 W\LD BE RUL$ BY ,ANGLO-,AM]ICAN CAPITAL4 ,! ?REAT ( ,RUSSIA - IF IT >ISES AT ALL - WILL CONC]N ,ASIA RA!R ?AN ,EUROPE BUT IT WILL ALSO HAVE TO BE MET1 ( C\RSE1 9 ,EUROPE1 :I* IS AN ADDITIONAL REASON = ! ALLIES TO CONTROL WE/]N ,EUROPE4 ,G]MAN TOTALIT>IANISM IS ! MO/ IMM$IATE ISSUE TO BE DEALT ) & MONOPOLY CAPITALISM CONC5TRATES ITS P[] = ! BATTLE = ,EUROPE4 

,IF ! MONOPOLI/IC NATIONS MU/ COPY ! ORGANIZATIONAL =MS & MILIT>Y ME?ODS ( TOTALIT>IANISM1 !Y MU/ ALSO TAKE OV] TOTALIT>IAN PROPAG&A4 ,?US BO? ! /RUGGLE ( FASCISM & ! /RUGGLE AGA9/ FASCISM APPE>S PROPAG&I/ICALLY AS ! FI<T = SOCIALISM4 ,! MORE /RICTLY ! GOV]NM5TS ACT 9 ! EXCLUSIVE 9T]E/S ( /ATE-SUPPORT$ MONOPOLIES OR ! MONOPOLI/IC /ATE1 ! MORE LIP-S]VICE !Y PAY TO SOCIALISM4 ,) ! PROGRESSIVELY 9CREAS+ CONC5TRATION & C5TRALIZATION ( ECONOMIC & POLITICAL P[] ! ILLUSION MU/ BE /R5G!N$ ?AT ALL ?IS IMPLIES ! OPPOSITE FROM :AT IT REALLY IS4 

,AL?\< MONOPOLY IMPLIES TOTALIT>IANISM & VICE V]SA1 JU/ AS AT AN E>LI] /AGE ( DEVELOPM5T COMPETITION IMPLI$ MONOPOLY & VICE V]SA1 IT IS NEV]!LESS IMPORTANT NOT TO OV]LOOK ! DI/9CTIONS BETWE5 MONOPOLY & TOTALIT>IANISM4 ,O!RWISE MANY REAL PROBLEMS ( TODAY W\LD REMA9 9COMPREH5SIBLE4 ,BUT IT IS JU/ AS IMPORTANT NOT TO =GET ?AT !SE DI/9CTIONS REF] TO ! /RUGGLES = CONTROL ( ! V>I\S COMPET+ RUL+ GR\PS 9 A WORLD ?AT SOCIO-ECONOMICALLY REMA9S UN*ANG$4 

,IF ! /ATE SUPPORT$ MONOPOLIES 9 ! DEMOCRACIES HAVE !IR WAY1 ?AT IS1 W9 ! W> 9 A %ORT TIME1 GOV]NM5T CONTROL - H[EV] EXP&$ - WILL BE US$ *IEFLY TO SECURE PRIVATE CAPITAL & ITS PR(ITABILITY4 ,SUP]-MONOPOLIES WILL ASSURE EXTRA-PR(ITS & R$UCE ! PR(ITS ( ! - WEAK5$ COMPETITORS /ILL FUR!R4 ,! /ATE-MONOPOLIES ( ! DEFEAT$ NATIONS WILL BE DISSOLV$4 ,MR4 ,HULL SPEAKS ! TRU? :5 HE PROMISES RE/ORATION ( 0FREE TRADE0 AFT] ! W>4 ,IT WILL BE 0FREE TRADE0 = O!RS :O FACE A /RONG] ,ANGLO-,AM]ICAN MONOPOLISM JU/ AS AT AN E>LI] TIME ,5GL& FO/]$ 0FREE TRADE0 BECAUSE ( H] MONOPOLI/IC POSITION 9 ! WORLD M>KET4 ,FREE TRADE M]ELY MEANS PREV5T+ O!R NATIONS FROM US+ MONOPOLI/IC PRACTICES & ?US TO MAK+ IT EASI] TO EXPLOIT !M4 

,! ANTI-FASCI/ /RUGGLE1 ON ! P>T ( ! DEMOCRACIES IS NO FAKE4 ,)\T FASCISM ,G]MANY & ,JAPAN W\LD BE NO MAT* AT ALL = ,ANGLO-,AM]ICAN CAPITALISM4 ,A 0DEMOCRATIC0 ,G]MANY WAS A WEAK COMPETITOR1 = H] MONOPOLI/IC /R5G? LIES ONLY 9 H] ORGANIZATION & NOT 9 ! EXPANSIV5ESS ( H] T]RITORY1 NOR 9 H] POSSESSION ( VITAL RAW MAT]IALS1 NOR1 = ?AT MATT]1 9 H] PRODUCTIVE APP>ATUS4 ,JU/ AS MONOPOLI/IC NATIONS >E 9 FAVOR ( FREE TRADE TO ! DISADVANTAGE ( O!R NATIONS1 SO MONOPOLI/IC NATIONS1 H[EV] MU* !Y !MSELVES MAY T5D T[>DS TOTALIT>IANISM1 >E /RICTLY OPPOS$ TO FASCIM .<SIC.> 9 O!R NATIONS1 ?AT IS1 TO FASCISM ) IMP]IALI/IC AMBITIONS & POT5TIALITIES4 ,?OSE )\T SU* AMBITIONS & POT5TIALITIES !Y >E ONLY TOO WILL+ TO ACCEPT4 

,ASSUM+ ?AT ! ,ANGLO-,AM]ICAN MONOPOLI/S W9 ?IS W>1 ?AT !Y SUCCE$ 9 BREAK+ ALL MONOPOLIES BUT !IR [N & ASSUM+ FUR!R ?AT !Y WILL BE ABLE SOMEH[ TO RECONCILE !IR MONOPOLI/IC WORLD POSITION ) ! NE$S ( ! MAJORITY ( ! WORLD POPULATION & ?US BR+ AB\T A P]IOD ( PEACE & RECON/RUCTION ( WORLD PRODUCTION & WORLD TRADE2 ASSUM+ ALL ?IS1 IT IS CONCEIVABLE ?AT ! SURPLUS VALUE & ! PR(ITABILITY ( MONOPOLY CAPITALISM WILL BE SUFFICI5TLY RAIS$ TO ALL[ = ! FUR!R EXPANSION ( CAPITAL ON A MORE /RICTLY MONOPOLI/IC BASE4 ,ON ! BASIS ( ?IS ASSUMPTION IT IS ALSO CONCEIVABLE ?AT JU/ AS AT PREVI\S P]IODS ( 9CREAS+ EXPLOITATION SO N[ AGA9 P>TS ( ! WORLD POPULATION WILL BE ABLE TO 9CREASE !IR CONSUMPTION DESPITE1 OR RA!R BECAUSE (1 FUR!R MONOPOLIZATION4 ,! MASSES ( ! PROP]TY-LESS W\LD BE GREAT]1 ! NUMB] ( CAPITALI/S SMALL]1 BUT CAPITALI/ ECONOMY W\LD FL\RI% ONCE MORE4 

,ACCUMULATION W\LD CONT9UE4 ,! HA/5$ MONOPOLIZATION1 H[EV]1 DOES AWAY ) ! EXTRA-PR(ITS BAS$ ON ! EXI/5CE ( NON-MONOPOLI/IC SPH]ES ( PRODUCTION4 ,! MONOPOLI/IC RATE ( PR(IT W\LD T5D TO BECOME ! GIV5 RATE ( PR(IT DET]M9$ SOLELY BY ACCUMULATION & ! RIS+ ORGANIC COMPOSITION ( CAPITAL4 ,! NE$ = RAPID EXPANSION W\LD BE GREAT] & /AGNATION MORE DANG]\S ?AN EV] BE=E4 ,! NE$ = MORE SURPLUS VALUE TO COMP5SATE = ! DECREAS+ PR(ITABILITY W\LD BE MORE PRESS+ ?AN EV] BE=E & ! EXPLOITATION ( ! WORK]S ( ! WORLD W\LD HAVE TO BE 9CREAS$ 9 AN AS YET UNKN[N MEASURE4 ,9 DUE TIME1 H[EV]1 CAPITALISM W\LD FACE ANO!R P]IOD ( /AGNATION1 :I* W\LD LEAD TO NEW W>S & TO ! FUR!R EXPANSION ( GOV]NM5T CONTROL4 ,ALL ?AT ! PRES5T W> W\LD HAVE ACCOMPLI%$ W\LD BE3 ! PO/PONEM5T ( ! COMPLETE M]G] ( CAPITAL & GOV]NM5T4 

,IF MONOPOLY CAPITAL FI<TS = A CAUSE ALREADY LO/1 IT DOES SO BECAUSE IT HAS NO 0CAUSE0 AT ALL1 BECAUSE ITS ACTIONS >E DET]M9$ NOT BY ANY SOCIAL CONSID]ATIONS BUT BY MOM5T>Y COMPETITIVE NE$S 9 ! G5]AL /RUGGLE = FAVORABLE POSITIONS AT ! S\RCES ( SURPLUS VALUE4 ,?AT ?IS G5]AL COMPETITIVE /RUGGLE & ITS DEVA/AT+ RESULTS /ILL DET]M9E ! ANTI-SOCIAL HI/ORY ( MANK9D IS FULLY REVEAL$ PRECISELY 9 MONOPOLI/IC 0PLANN+0 & 9 ! 0NEW ORD]0 ( TOTALIT>IANISM4 ,ALL ! REAL ORD] ?AT MAY BE DETECT$ )9 ! CAPITALI/ DEVELOPM5T ONLY DEMON/RATES ?AT ! CONTRADICTIONS BETWE5 SOCIAL- & CLASS-PRODUCTION HAVE OBJECTIVE LIMITATIONS4 ,?IS ORD] ASS]TS ITSELF 9SPITE .<SIC.> ( CAPITALISM & M]ELY %[S ONCE MORE ?AT SOCIAL PLANN+ & ORD] CAN BE E/ABLI%$ NOT BY1 BUT ONLY AGA9/1 CAPITALISM4 

,JU/ AS ,ADAM ,SMI?'S FE> ( MONOPOLI/IC CONSPIRACIES AGA9/ ! WELL-BE+ ( SOCIETY DID NOT /OP HIS MO/ >D5T FOLL[]S FROM CONSPIR+ AGA9/ !IR COMPETITORS & FROM =M+ MONOPOLIES1 SO ! MO/ E>NE/ MONOPOLI/S 9 !IR FI<T AGA9/ TOTALIT>IANISM WILL EV5TUALLY BECOME TOTALIT>IANS :ILE /RUGGL+ TO MA9TA9 !IR MONOPOLI/IC-COMPETITIVE POSITION4 ,= :AT !Y WANT & :AT !Y >E =C$ TO DO >E TWO DIFF]5T ?+S4 ,9 !IR SE>* = PR(ITS !Y DE/ROY ! PR(ITABILITY ( CAPITAL4 ,9 !IR ATTEMPT TO SAFEGU>D CAPITALI/IC FRE$OMS !Y E/ABLI% TOTALIT>IAN PRISONS4 ,) !IR 0PLANN+0 !Y LEAD ! WORLD 9 ! B>B>ISM ( ! PRES5T W>1 ALL ! :ILE DEMON/RAT+ ?AT1 AS ALWAYS BE=E1 SO TODAY1 TOO1 9/EAD ( CONTROLL+ ANY?+ !Y >E CONTROLL$ BY DEVELOPM5TAL LAWS :I* !Y CANNOT *ANGE )\T GIV+ UP !IR CAPITALI/IC EXI/5CE4 ,FRI$RI* ,5GELS PO9T$ \T SOME FIFTY YE>S AGO1 :AT IS /ILL ! TRU?3 0,AL?\< PRODUCTION ASSUR$LY NE$S REGULATION IT IS C]TA9LY NOT ! CAPITALI/ CLASS :I* IS FITT$ = ?AT TASK 444 ,! TRU/S ( MANUFACTUR]S ( :OLE SPH]ES ( PRODUCTION = ! REGULATION ( PRODUCTION1 & ?US ( PRICES & PR(ITS 444 HAVE NO O!R MISSION BUT TO SEE TO IT ?AT ! LITTLE FI% >E SWALL[$ BY ! BIG FI% /ILL MORE RAPIDLY ?AN BE=E40.<#d#d.> 

,9 ! F9AL ANALYSIS MONOPOLI/IC PR(ITS MEAN NO?+ ELSE ?AN EXPROPRIATION ( CAPITALI/S BY CAPITALI/S4 ,MONOPOLISM DOES NOT REPRES5T /AGNATION2 ! *>GE ?AT MONOPOLIES H9D] ECONOMIC DEVELOPM5T \T ( FE> ( LOS+ !IR MONOPOLI/IC POSITION IS NONS5SE1 = PRECISELY BY ATTEMPT+ TO H9D] DEVELOPM5T !Y PU% IT =W>D4 ,IF CAPITALISM CANNOT GO ON EXP&+ BY ! ORD9>Y CAPITALI/IC MEANS ( COMMODITY EX*ANGE1 ! MONOPOLI/S DO ! 0UNCAPITALI/IC0 ?+ ( FAVOR+ ! /ATUS QUO4 ,! /ATUS QUO = ! MONOPOLI/S IS1 H[EV]1 ! DECL9E ( SMALL COMPETITIVE BUS9ESS1 ?AT IS1 ! /ATUS QUO DOES :AT EXPANSION W\LD DO - IT FO/]S ! EXPROPRIATION ( CAPITAL BY CAPITALI/S4 ,! MORE ! MONOPOLI/S TRY TO MA9TA9 A C]TA9 SITUATION1 ! MORE !Y ACTUALLY *ANGE ?AT SITUATION4 ,! W> %\LD BE PRO( 5\< ( ?AT4 

,IF ! /ATUS QUO IS ONLY ANO!R EXPRESSION = MONOPOLI/IC EXPANSION1 ! /RUGGLE BETWE5 MONOPOLISM & TOTALIT>IANISM MU/ 5D ) ! VICTORY ( ! LATT] UNLESS1 ( C\RSE1 CAPITALISM ITSELF IS ABOLI%$4 ,TO BE SURE1 ?IS DOES NOT MEAN ?AT ! PRES5T TOTALIT>IAN P[]S WILL BE VICTORI\S4 ,IT MEANS ONLY ?AT NO MATT] :O W9S OR LOSES ON ! MILIT>Y FRONT ! WORLD WILL PROCE$ FROM MONOPOLISM TO TOTALIT>IANISM AS IT MOV$ FROM COMPETITION TO MONOPOLY4 ,BO? TR5DS - :I* >E REALLY ONE TR5D - >E ONLY O!R WAYS ( DEMON/RAT+ ?AT CAPITAL EXPANSION IS ! CONC5TRATION & C5TRALIZATION ( CAPITAL :I* IS BR\<T AB\T 9 LESS DEVELOP$ NATIONS BY =CEFUL POLITICAL MEANS & :I* SPR+S FROM ! ECONOMIC =CES ON H& 9 DEVELOP$ NATIONS4 ,= MONOPOLISM1 ! W> IS :AT REVOLUTION WAS = BACKW>D ,RUSSIA1 A DIRECT POLITICAL ATTEMPT TO HA/5 PROCESS ( DEVELOPM5T ?AT BECAME TOO SL[ BY ! ORD9>Y MEANS ( COMMODITY EX*ANGE & CAPITAL EXPORT4 

,PRIVATE CAPITAL & PRIVATE MONOPOLY >E EV]Y:]E ON !IR WAY \T4 ,!Y ALSO CANNOT BE DEVELOP$ 9 BACKW>D NATIONS :I* HAVE TO />T :]E CAPITALISM LEAVES (F - ) /ATE MONOPOLY4 ,ALL ,MR4 ,HULL'S HONE/Y ) REG>D TO ! RE/ORATION ( FREE TRADE DOES NOT MAKE HIS PROGRAM REALI/IC1 = FREE TRADE 9 ! PROCLAIM$ S5SE PRESUPPOSES A RETURN TO ! CONDITIONS ( E>LY CAPITALISM4 ,A WAY MU/ BE F\ND TO BR+ TO ! MONOPOLI/IC NATIONS ! FRUITS ( FREE TRADE )\T FREE TRADE4 ,FAC$ ) ! IMPOSSIBILITY ( UNDO+ ! CONC5TRATION PROCESS & ITS SOCIAL-MAT]IAL CONSEQU5CES 9 ! DEFEAT$ 5EMY NATIONS1 ! MOD]N FREE TRAD]S WILL HAVE TO EMPLOY ! FASCI/ ME?ODS ( DIRECT APPROPRIATION & DIRECT ANNEXATION 9 ORD] TO REALIZE ,MR4 ,HULL'S PROGRAM4 

,EV5 VICTORY OV] ! TOTALIT>IAN ,AXIS P[]S WILL NOT 5ABLE ! VICTORS TO REALIZE !IR GOAL - ! MA9T5ANCE & FUR!R EXPANSION ( PRES5T-DAY MONOPOLY CAPITAL4 ,! EXPLOITATION ( ! DEFEAT$ P[]S ITSELF WILL TURN AGA9/ ! MONOPOLI/S ( TODAY & TRANS=M !IR SOCIETY 9TO A TOTALIT>IAN ONE4 ,?IS1 AS WELL AS ! DIFFICULTIES CONNECT$ ) ! ATTEMPTS ( BR++ ! :OLE ( ,EUROPE & ,ASIA UND] ! DIRECT MILIT>Y CONTROL ( ,ANGLO-,AM]ICAN CAPITALISM1 NOT TO SPEAK ( ! FUTURE DISCREPANCIES & 5MITIES BETWE5 ,5GL& & ,AM]ICA1 EXPLA9S ! VAGU5ESS & ! UNREALI/IC *>ACT] ( ALL ! ,ALLI$ PEACE PROPOSALS BR\<T =W>D4 ,! ,ALLIES DO NOT KN[ :AT TO DO TO MAKE ! W> & VICTORY ! PR(ITABLE UND]TAK+ IT HAS TO BE 9 ORD] TO GIVE ANO!R P]IOD ( LIFE & SUCCESS TO MONOPOLY CAPITALISM4 0,! GRUESOME FACT IS10 SAID A LIB]AL WRIT] ! O!R DAY1 0?AT IF ! SLAU<T] W]E TO 5D TOMORR[ IT W\LD BE A CATA/ROPHE ! 5TIRE WORLD40.<#d#e.> 

,! MO/ 0REALI/IC0 PROPOSALS UND] !SE CONDITIONS >E NO D\BT ?OSE ?AT ADVOCATE ! COMPLETE DE/RUCTION ( 5EMY NATIONS BY !IR DE9DU/RIALIZATION1 BY MASS-KILL+S & MASS-/]ILIZATION4 ,?IS PROCESS W\LD HAVE TO BE REPEAT$ 9 ALL ! COM+ W>S UNTIL F9ALLY !RE W\LD BE NO?+ LEFT BUT ! MO/ P[]FUL EXPLOIT+ NATION )\T ANY?+ TO EXPLOIT BUT H] [N POPULATION4 ,IMP]IALISM1 H[EV]1 IS DESIGN$ ESCAPE ! LIMITS ( NATIONAL EXPLOITATION4 ,& SO ! :OLE HI/ORY ( IMP]IALI/IC COMPETITION W\LD HAVE YIELD$ A 0SOLUTION0 :I* CONSI/$ SIMPLY ( A RETURN TO ! PROBLEMS ?AT 9ITIAT$ IMP]IALISM4 ,! MO/ 0REALI/IC0 PROPOSALS >E NOT REALIZABLE & ! UNREALI/IC SUGGE/IONS >E M]ELY EXCUSES = ! LACK ( ANY IDEAS CONC]N+ ! COM+ PEACE4 ,:AT HAS BE5 SAID 9 REG>D TO ! W> ( #a#i#a#d-#a#i#a#h IS D\BLY TRUE = ! PRES5T ONE3 0,IT DIFF]$ FROM O!RS BECAUSE IT LO/ ALL RELATION TO P>TICUL> 5DS4 ,NATIONS W5T ON FI<T+ BECAUSE !Y HAD BEGUN & DID NOT KN[ TO /OP40.<#d#f.> 

,NOTES 

.<#a.>4 ,9VE/IGATION ( ,CONC5TRATION ( ,ECONOMIC ,P[]4 ,MONOGRAPH ,NO4 #b#a4 ,WA%+TON1 ,D4,C41 #a#i#d1 P4 #a#h4 

.<#b.>4 ,IBID4 

.<#c.>4 ,9 A R\ND TABLE DISCUSSION ON ,PRES]V+ ,COMPETITION VS4 ,REGULAT+ ,MONOPOLY AT ! ,FIFTY-SECOND ,ANNUAL ,MEET+ ( ! ,AM]ICAN ,ECONOMIC ,ASSOCIATION1 ,LEON ,H5D]SON SPOKE 9 FAVOR ( PRES]V+ COMPETITION4 0,! SUPPOS$ EVILS ( EXCESSIVE COMPETITION HE DID NOT CONSID] TO BE P>TICUL>LY T]RIFY+4 ,NOR WAS HE WORRI$ OV] ! DE/RUCTION ( 9VE/M5T 9 9DU/RY IF ! C\NTRY %\LD DECID$ ':E!R AS A WAY ( LIFE OR AS AN ECONOMIC POLICY MONOPOLY %\LD NOT EXI/'40 7,! ,AM]ICAN ,ECONOMIC ,REVIEW1 ,P>T ,I,I1 ,M>* #a#i#d1 P4 #b#a#b4 

.<#d.>4 ,J4,H4 ,C>MICAL 9 ,! ,NEW ,YORK ,TIMES1 ,JANU>Y #b#d1 #aidc 444 ,H4,S4 ,TRUMAN1 *AIRMAN ( ! S5ATE COMMITTEE 9VE/IGAT+ ! W> PROGRAM1 RELAT$ ?AT 0,9 TWO %ORT YE>S ! PEACE TIME PRODUCTION BALANCE ( ,AM]ICA HAS BE5 PUT 9 REV]SE4 ,TODAY1 #a CORPORATIONS 5JOY #g P] C5T ( ! W> & ESS5TIAL CONTRACTS1 :ILE ! #a#g#e1 SMALL] COMPANIES HAVE BE5 R$UC$ FROM !IR =M] #g P] C5T POSITION TO A M]E #c P] C5T40 ,! ,*ICAGO ,TRIBUNE1 ,FEBRU>Y #a#b1 #a#i#d#c4 

.<#e.>4 ,DEMOCRACY & ,FREE ,5T]PRISE1 ,UNIV]SITY ( ,OKLAHOMA ,PRESS1 #a#i#d#b1 P4 #b#d4 

.<#f.>4 ,FULL ,EMPLOYM5T3 ,! ,CO/4 ,OCTOB] #a#g1 #a#i#d#b4 

.<#g.>4 ,DIM9I%+ UTILITY1 9 TEXTBOOK T]MS1 MEANS 0?AT ! ADDITIONAL B5EFIT :I* A P]SON D]IVES FROM A GIV5 9CREASE ( HIS /OCK ( A ?+ DIM9I%ES ) EV]Y 9CREASE ( ! /OCK HE ALREADY HAS40 ,M>G9AL UTILITY1 9 ,WEB/]'S %ORT DEF9ITION1 MEANS 0! M9IMUM DEGREE ( UTILITY NECESS>Y = CONT9U$ PRODUCTION OR USE ( GOODS OR S]VICES40 

.<#h.>4 ,REC5TLY IT HAS BECOME ! VOGUE TO DECL>E ?AT 0! GOOD OLD DAYS ( COMPETITION NEV] REALLY EXI/$10 & ?AT 0IT HAD ALWAYS BE5 KN[N ?AT P]FECT COMPETITION WAS A M]E AB/RACTION40 7,SUPPLEM5T TO ,=TUNE1 ,DECEMB]1 #a#i#d#b47 ,H[EV]1 = MORE ?AN A HUNDR$ YE>S ( ECONOMIC !ORY & G5]AL ?9K+ ON ECONOMIC SUBJECTS1 ! IDEA ( P]FECT COMPETITION RUL$ NOT AS A M]E AB/RACTION1 BUT AS EXPRESS+ ! GOAL T[>DS :I* ! REAL ECONOMIC MOVEM5TS W]E T5D+4 ,! REC5T PUBLICATION DATES ( ALMO/ ALL TREATIES .<SIC.> ( MONOPOLI/IC COMPETITION ALSO 9DICATE ?AT ! PRES5T WISDOM1 EXPRESS$ BY ! $ITORS ( ,=TUNE1 WAS NOT ! G5]AL PROP]TY ( ! COMPETITION !ORI/S :O1 = SO LONG1 MONOPOLIZ$ ECONOMIC LIT]ATURE4 

.<#i.>4 ,! ,/RUCTURE ( ! ,AM]ICAN ,ECONOMY4 ,P>T ,I A4 ,P>T ,I,I 7,T[>D ! ,FULL ,USE ( ,RES\RCES74 ,SEE ALSO ,K4 ,KORS*'S REVIEWS ( BO? PUBLICATIONS 9 ,LIV+ ,M>XISM1 ,VOL4 #e1 ,NO4 #c1 P4 #cf TO #d#i1 & ,VOL4 ,V1 ,NO4 #d1 P4 #f TO #f#c4 

.<#a.>4 ,9DU/RIAL ,CONC5TRATION & ,PRICE ,9FLEXIBILITY4 ,WA%+TON1 ,D4,C41 #a#i#d#b4 

.<#a#a.>4 ,IBID41 P4 #c#f4 

.<#a#b.>4 ,K>L ,M>X1 ,CAPITAL1 ,VOL4 ,I,I,I1 P4 #a#i4 

.<#a#c.>4 ,IBID41 P4 #a#h4 

.<#a#d.>4 ,A4,C4 ,NEAL1 ,9DU/RIAL ,CONC5TRATION & ,PRICE ,9FLEXIBILITY1 P4 #a#f#e4 

.<#a#e.>4 ,CAPITAL1 ,VOL4 ,I1 P4 #f#d#i4 

.<#a#f.>4 ,GU/AV ,/OLP]2 QUOT$ 9 ! ,*ICAGO ,TRIBUNE1 ,SEPT4 #b#b1 #a#i#d#b4 

.<#a#g.>4 ,R4,S4 ,LYND1 ,! ,/RUCTURE ( ,P[]1 0,! ,NEW ,REPUBLIC01 ,NOV4 #i1 #a#i#d#b4 

.<#a#h.>4 ,REC5TLY AGA9 BY ,H5RY ,BAM=D ,P>KES 9 ,M>XISM3 ,AN ,AUTOPSY4 ,BO/ON1 #a#i#c#i4 

.<#a#i.>4 ,! ,G5]AL ,!ORY ( ,EMPLOYM5T1 ,9T]E/ & ,MONEY4 ,NEW ,YORK1 #a#i#c#f4 

.<#b.>4 ,IBID41 P4 #c#d#g4 

.<#b#a.>4 ,IBID41 P4 #a#f#d4 

.<#b#b.>4 ,FLOTATIONS ( NEW SECURITIES 9 ! ,U4,S41 = EXAMPLE1 AM\NT$ TO @s#i1#i#g#h11 9 #a#i#b#i1 OR >\ND ONE-EI<T ( ! REALIZ$ NATIONAL 9COME4 ,BY #a#i#c#c1 SU* FLOTATIONS HAD DROPP$ TO @s#f#i#c111 A DECREASE ( #ic P] C5T4 ,! M>KET RECOV]Y 9 #aicf DID NOT BR+ ! VOLUME ( NEW FLOTATIONS HI<] ?AN @s#a1#i#e111 A FIGURE REPRES5T+ BUT #c P] C5T ( ! REALIZ$ NATIONAL 9COME4 7,WILL=D ,I4 ,K+1 ,:AT ,HAS ,HAPP5$ TO ! ,9VE/OR ,CLASS8 0,TRU/S & ,E/ATES01 ,JANU>Y #a#i#d#c47 

.<#b#c.>4 ,IBID4 

.<#b#d.>4 ,E4,L4 ,BOG>T1 ,! ,*ANG+ ,ECONOMIC ,FUNCTIONS ( ,GOV]NM5T4 0,! ,ANNALS0 ( ! ,AM]ICAN ,ACADEMY ( ,POLITICAL & ,SOCIAL ,SCI5CE4 ,PHILADELPHIA1 ,NOV4 #a#i#c#i1 P4 #e4 

.<#b#e.>4 ,IBID41 P4 #aa 7,W4,W4 ,J5N+S1 ,! ,RISE ( ,GOV]NM5T ,CONTROL47 

.<#b#f.>4 ,W4,I4 ,K+1 ,:AT HAS ,HAPP5$ TO ! ,9VE/OR ,CLASS8 

.<#b#g.>4 ,SUPPLEM5T TO ,=TUNE1 ,DECEMB] #a#i#d#b1 7,! ,DOME/IC ,ECONOMY74 

.<#b#h.>4 ,! ,ROAD ,WE >E ,TRAVEL+4 ,NEW ,YORK1 #a#i#d#b4 

.<#b#i.>4 ,SUPPLEM5T TO ,=TUNE1 ,DECEMB] #a#i#d#b1 P4 #a4 

.<#c.>4 ,IBID41 P4 #a#h4 

.<#c#a.>4 ,IBID41 P4 #d4 

.<#c#b.>4 ,IBID41 P4 #i4 

.<#c#c.>4 ,IBID41 P4 #a#g4 

.<#c#d.>4 ,! ,*ICAGO ,TRIBUNE 7#b_/#a#b_/#d#c7 

.<#c#e.>4 ,LEWIS ,COREY1 ,POLITICAL ,ECONOMY & ! ,/ATE4 0,! ,HUMANI/01 ,W9T] #a#i#d#b1 P4 #a#d#i4 

.<#c#f.>4 ,OSC> ,LANGE1 ,ON ! ,ECONOMIC ,!ORY ( ,SOCIALISM4 ,M9NEAPOLIS1 #a#i#c#h1 P4 #a#d#b4 

.<#c#g.>4 ,A4,P4 ,L]N]1 ,DEMOCRATIC ,P]SPECTIVE4 ,! ,UNIV]SITY ,REVIEW1 ,KANSAS ,CITY1 ,AUTUMN #a#i#d#b1 P4 #g4 

.<#c#h.>4 ,A4,C4 ,NEAL1 ,9DU/RIAL ,CONC5TRATION & ,PRICE ,9FLEXIBILITY1 P4 #a#b4 

.<#c#i.>4 ,GEORGE ,T]BOR<'S ,E/IMAT$ ,EXP5DITURES = ,DURABLE ,GOODS %[S ?AT DURABLE CONSUM]S' GOODS PRODUCTION AV]AG$ #i4#c BILLIONS P] YE> = ! P]IOD #a#i#a#i-#a#i#c#h2 :]EAS = ! SAME P]IOD DURABLE PRODUC]S' GOODS PRODUCTION AV]AG$ ONLY #f4#f BILLIONS4 7,F$]AL ,RES]VE ,BULLET91 ,SEPT4 #a#i#c#i4 

,! PR$OM9ANCE ( DURABLE CONSUM]S' GOODS PRODUCTION IS AN ADDITIONAL REASON = ! 9CREAS+ ECONOMIC /AGNATION4 0,CONSUM]S DURABLE GOODS DEM&10 WRITES ,A4,C4 ,NEAL 7,9DU/RIAL ,CONC5TRATION & ,PRICE ,9FLEXIBILITY1 P4 #a#f71 0IS 9FLU5C$ NOT BY CONSID]ATIONS ( PR(ITABILITY ( FUTURE DEM&1 BUT BY USE-VALUE & 9COME4 ,! USE-VALUE EFFECT IS LIKELY TO MAKE = 9ELA/IC DEM&2 P>TICUL>LY 9 DEPRESSIONS40 ,) DURABLE GOODS DEM& BE+ :AT IT IS1 EV5 ! (T5 ADVOCAT$ POLICY ( SELECTIVE PRICE CUTS W\LD NOT /IMULATE 9VE/M5TS4 ,DR4 ,NEAL RELATES ?AT DUR+ ! LA/ DEPRESSION ! ,BO/ON ,BUILD+ ,TRADE ,C\NCIL WROTE A L>GE NUMB] ( COMPANIES ASK+ :E!R A CUT 9 WAGE RATES W\LD ALT] !IR BUILD+ PROGRAMS4 ,NONE REPLI$ 9 ! AFFIRMATIVE4 

,AN 9CREAS+ USE-VALUE PRODUCTION 7PRODUCTION = CONSUMPTION7 DOES NOT *ANGE ! *>ACT] ( CAPITALI/ PRODUCTION BUT DISRUPTS IT /ILL FUR!R4 ,IT MAKES IT 9CREAS+LY MORE DIFFICULT TO OV]COME DEPRESSION & LEADS1 F9ALLY1 TO W> = ! RE/ORATION ( PR(IT PRODUCTION AS ! ONLY K9D ( PRODUCTION ?AT 9SURES ! EXPANSION ( CAPITALISM4 

.<#d.>4 ,BIG ,MONOPOLIES & ,SMALL ,FIRMS4 ,! ,NEW ,/ATESMAN & ,NATION4 ,DECEMB] #e1 #a#i#d#b1 P4 #c#f#f4 

.<#d#a.>4 ,! SEV]ITY ( ! SPLIT MAY BE RECOGNIZ$ BY ! EXI/+ WAGE DIFF]5CES 9 ! ,UNIT$ ,/ATES4 ,! WEEKLY E>N+S ( ,AM]ICAN FACTORY WORK]S >E3 

,UND] @s#b 
        #b1#d#i1 
        POV]TY 
    @s#b TO #c 
        #b1#h#a1 
        POV]TY 
    @s#c TO #d 
        #b1#b#d1 
        B>E SUBSI/5CE 
    @s#d TO #e 
        #a1#f#e1 
        M9IMUM DEC5CY 
    @s#e TO #f 
        #a1#d#a1 
        SLI<T COM=T 
     

,SOME #g4#e MILLION WAGE E>N]S /ILL MAKE LESS ?AN #d C5TS AN H\R4 ,?IS REPRES5TS #ai P] C5T ( ! #d MILLION ,AM]ICAN WORK]S4 ,MANY 9 L9ES ( WORK NOT COV]$ BY ! WAGE & H\R LAW >E GETT+ LESS ?AN #c C5TS & SOME AS LITTLE AS #ae C5TS4 ,AB\T #eb P] C5T ( ALL FACTORY WORK]S GET LESS ?AN #gf C5TS P] H\R & ONLY #h P] C5T E>N @s#a4#b & MORE4 7,BULLET9 ( ! ,9T]NATIONAL ,F$]ATION ( ,TRADE ,UNIONS4 ,NO4 #c4 ,FEBRU>Y #a#i#d#c47 

.<#d#b.>4 ,:O ,>E ! ,REAL ,RUL]S ( ,BRITA94 ,NEW ,YORK ,TIMES4 #a_/#b#d_/#d#c4 

.<#d#c.>4 ,SOCIAL ,REVOLUTION-,CONS]VATIVE ,/YLE4 ,! ,NEW ,/ATESMAN & ,NATION1 ,OCTOB] #a1 #a#i#d#b4 

.<#d#d.>4 ,CAPITAL1 ,VOL4 ,I,I,I1 PP4 #a#d#c-#a#d#c 7,FOOTNOTE74 

.<#d#e.>4 ,HIRAM ,MO!RWELL 9 ,COMMON ,S5SE1 ,APRIL #a#i#d#c1 P4 #a#a#d4 

.<#d#f.>4 ,L9D5 ,A4 ,M&]4 ,F\NDATION ( ,MOD]N ,WORLD ,SOCIETY4 ,/AN=D ,UNIV]SITY ,PRESS1 #a#i#d#a1 P4 #f#d#f4 

,FROM 3 ,M>XI/S4ORG4 

,*RONOLOGY 3 
,M>* #b1 #bba 3 ,COMPETITION & ,MONOPOLY -- ,ADD$4 
,JANU>Y #h1 #bbb 3 ,COMPETITION & ,MONOPOLY -- ,UPDAT$4 

 FILE G5]AT$ FROM 3  
HTTP3_/_/REVOLTLIB4COM_/