,*APT] #d 
,ON ! ,CONCEPT ( ,/ATE-,MONOPOLY ,CAPITALISM 

,PEOPLE 3 

,AU?OR 3 ,PAUL ,MATTICK 

,TEXT 3 

,9 ! FIR/ 9/ANCE ! T]M MONOPOLY CAPITALISM IS NO MORE ?AN A CORRECT DESCRIPTION ( EXI/+ SOCIETY4 ,CAPITALISM IS PLEAD$ BY MONOPOLIES & 9 L>GE P>T DET]M9$ BY !M4 ,! /ATE1 :OSE FUNCTION IS TO PROTECT ! SOCIAL /RUCTURE1 IS ?US ! /ATE ( MONOPOLY CAPITAL4 ,?IS IS BY NO MEANS A NEW PH5OM5ON 9 CAPITALI/ SOCIETY3 IT HAS ALWAYS BE5 A FEATURE ( CAPITALISM1 IF NOT AS PRON\NC$ 9 ! PA/4 ,ACCORD+ TO ,M>X1 :O HAS GIV5 US ! BE/ ANALYSIS ( CAPITALISM1 CAPITALI/ COMPETITION PRESUMES MONOPOLY1 I4E41 CAPITALI/ MONOPOLY OV] ! =CES ( PRODUCTION4 ,! ANTAGONI/IC CLASS RELATIONS ?AT RESULT FROM ?IS REQUIRE CONTROL ( ! /ATE1 :I* AT ! SAME TIME REPRES5TS ! NATIONAL 9T]E/S ( CAPITAL AT ! LEVEL ( 9T]NATIONAL COMPETITION4 

,A CAPITALISM ( PURE COMPETITION EXI/S ONLY 9 ! IMAG9ATION & 9 ! MODELS ( B\RGEOIS ECONOMICS4 ,BUT EV5 B\RGEOIS ECONOMI/S SPEAK ( NATURAL MONOPOLIES & MONOPOLI/IC PRICES4 ,AL?\<1 GRANT$1 MONOPOLIES >E NOT SUBJECT TO ! LAWS ( ! M>KET1 !Y >E /ILL HELD TO BE UNABLE TO %AKE !SE LAWS TO ANY NOTABLE EXT5T4 ,ONLY 9 REC5T TIMES1 ) :OLE BRAN*ES ( 9DU/RY MONOPOLIZ$1 HAS B\RGEOIS ECONOMICS BE5 =C$ TO DEAL ) IMP]FECT OR MONOPOLI/IC COMPETITION 9 ITS !ORIES & TO GO 9TO ! *ANGES MONOPOLY HAS WR\<T 9 ! M>KET4 ,:AT = B\RGEOIS ECONOMICS M>K$ A !ORETICAL TURN HAD 9 ,M>X'S ANALYSIS ( CAPITAL ALWAYS BE5 SE5 AS AN 9H]5T T5D5CY 9 CAPITALI/ ACCUMULATION4 ,CAPITALI/ COMPETITION LEADS TO CAPITAL CONC5TRATION & C5TRALIZATION4 ,MONOPOLY WAS BORN ( COMPETITION1 & \T ( IT GREW MONOPOLI/IC COMPETITION4 ,M>XI/ !ORY HAS ALSO ALWAYS ASCRIB$ A MORE IMPORTANT ROLE TO ! /ATE ?AN ! B\RGEOIS WORLD WAS WILL+ TO ACKN[L$GE1 NOT ONLY AS AN 9/RUM5T ( REPRESSION BUT ALSO AS ! ORGANIZ$ P[]$ MA9/AY ( CAPITALI/ EXPANSION4 

,?US !RE CAN BE NO?+ OBJECTIONABLE 9 ! USE ( ! T]M /ATE-MONOPOLY CAPITALISM1 AL?\< IT IMPLIES NO MORE ?AN ! SIMPLE T]M CAPITALISM4 ,V>I\S /AGES CAN BE DI/+UI%$ 9 ! PROCESS ( MONOPOLIZATION & /ATE ECONOMIC 9T]V5TION1 H[EV]4 ,?US ! DEVELOPM5T ( CAPITALISM CAN BE REPRES5T$ AS ITS PROGRESSIVE EVOLUTION 9TO MONOPOLY CAPITALISM1 & WE MAY ACCORD+LY ASK :AT ?IS MEANS 9 PRES5T TIMES1 & FUR!R1 :AT IT IMPLIES = ! FUTURE4 ,IT IS 9 ?IS CONTEXT !N1 ?AT EMPHASIZ+ ! SPECIAL /ATE-MONOPOLY *>ACT] ( PRES5T-DAY ATAVISM BECOMES MEAN+FUL4 

,CAPITALI/ ACCUMULATION T5DS NOT ONLY T[>D A PROGRESSIVELY DEEP] CLASS DIVISION BETWE5 LABOR & CAPITAL BUT ALSO T[>D 9CREAS+ CONC5TRATION & C5TRALIZATION ( ! P[] TO DISPOSE OV] CAPITAL AS IT EXP&S4 ',ONE CAPITAL KILLS MANY O!RS'1 & :AT CONC5TRATION IS UNABLE TO A*IEVE ?R\< COMPETITION1 DELIB]ATE C5TRALIZATION CAN DO ?R\< ! =MATION ( TRU/S1 C>TELS1 & MONOPOLIES4 ,CAPITALISM ?US T5DS ITSELF 9 A /ATE ( CON/ANT *ANGE1 AL?\< ! UND]LY+ EXPLOITATIVE RELATIONS REMA9 UNALT]$4 

,= ,M>X ! DECL9E ( CAPITALISM WAS ALREADY CONTA9$ 9 ITS RISE4 ,! SAME SOCIAL RELATIONS ?AT ALL[$ IT TO EXP& W\LD ALSO BR+ AB\T ITS FALL4 ,CAPITAL ACCUMULATION WAS A PROCESS RIDD5 BY CRISES2 UND] ! CONDITIONS ( ADVANC$ CAPITALI/S 9 :I* ! WORK+ CLASS IS ! PREEM95T CLASS1 EV]Y MAJOR CRISIS CONTA9$ ! POSSIBILITY ( SOCIAL REVOLUTION4 ,H[EV]1 IF WE PUT ASIDE REVOLUTION AS A POT5TIAL SOLUTION TO CAPITALI/ CONTRADICTIONS1 ! TR5D ( CAPITALISM1 DESPITE ALL ! SETBACKS DUR+ CRISIS P]IODS1 IS T[>D 9CREAS+ MONOPOLIZATION ( ! NATIONAL ECONOMY & %>P5+ 9T]NATIONAL MONOPOLI/IC COMPETITION4 

,?IS TR5D IS (T5 SE5 AS OBJECTIVELY PREP>+ ! WAY = SOCIALISM4 ,) ! TRANSITION FROM COMPETITION TO MONOPOLY & TO ! L>GE CAPITAL UNITS CREAT$ BY ACCUMULATION1 CONC5TRATION1 & C5TRALIZATION1 9DIVIDUALI/IC CAPITALI/ PRIVATE [N]%IP ( ! MEANS ( PRODUCTION HAS BE5 TRANS=M$ 9TO ! COLLECTIVE [N]%IP ( CORPORATIONS & L>GE CONC]NS1 9 :I* MANAGEM5T & [N]%IP NO LONG] RESIDE 9 ! SAME P]SONS4 ,= ,M>X3 

0CAPITAL IS H]E DIRECTLY 5D[$ ) ! =M ( SOCIAL CAPITAL 7A CAPITAL ( DIRECTLY ASSOCIAT$ 9DIVIDUALS71 AS DI/+UI%$ FROM PRIVATE CAPITAL1 & ITS 5T]PRISES ASSUME ! =M ( SOCIAL 5T]PRISES AS DI/+UI%$ FROM 9DIVIDUAL 5T]PRISES4 ,IT IS ! ABOLITION ( CAPITAL AS PRIVATE PROP]TY )9 ! B\ND>IES ( CAPITALI/ PRODUCTION ITSELF40 

,:]EAS = ,M>X ?IS SITUATION WAS A SIGN ( CAPITALI/IC DECAY1 ,FRI$RI* ,5GELS DETECT$ 9 IT ALSO A POSITIVE ELEM5T1 NAMELY1 A K9D ( CAPITULATION ( CAPITALI/IC AN>*Y TO ! PLANN$  PRODUCTION ( ! SOCIALI/ FUTURE4 ,9 HIS VIEW1 WE WITNESS H]E 0! REACTION ( ! MI<TY1 GR[+1 PRODUCTIVE =CES AGA9/ !IR *>ACT] AS CAPITAL1 ! 9CREAS+ COMPULSION TO RECOGNIZE !IR SOCIAL NATURE1 :I* MORE & MORE =CES ! CAPITALI/ CLASS ITSELF1 9S(> AS ?IS IS AT ALL POSSIBLE )9 ! RELATIONS ( CAPITAL1 TO TREAT !M AS SOCIAL =CES ( PRODUCTION40 ,5GELS SAW1 ( C\RSE1 ?AT 'NEI!R ! TRANS=MATION 9TO JO9T-/OCK COMPANIES 7OR TRU/S71 NOR ?AT 9TO /ATE-PROP]TY1 ELIM9ATES  ! CAPITALI/IC *>ACT] ( ! PRODUCTIVE =CES4 ,9 ! CASE ( JO9T-/OCK COMPANIES 7& TRU/S71 ?IS IS OBVI\S4 ,& ! MOD]N /ATE1 AGA91 IS ONLY ! ORGANIZATION :IRLS B\RGEOIS SOCIETY PROVIDES = ITSELF 9 ORD] TO SUPPORT ! G5]AL EXT]NAL CONDITIONS ( ! CAPITALI/ ME?OD ( PRODUCTION AGA9/ 5CROA*M5TS AS WELL ( ! WORK]S AS ( 9DIVIDUAL CAPITALI/S4 ,! MOD]N /ATE1 REG>DLESS ( ITS =M1 IS ESS5TIALLY A CAPITALI/IC MA*9E1 ! IDEAL COLLECTIVE CAPITALI/4 ,! MORE PRODUCTIVE =CES IT TAKES OV] 9TO ITS POSSESSION1 SO MU* ! MORE DOES IT BECOME ! ACTUAL COLLECTIVE CAPITALI/1 & SO MANY MORE CITIZ5S DOES IT EXPLOIT4 ,! WORK]S REMA9 WAGE-WORK]S1 PROLET>IANS4 ,! CAPITALI/ RELATION IS NOT ELIM9AT$4 ,IT IS RA!R BR\<T TO A HEAD4 ,BUT1 BR\<T TO A HEAD IT TOPPLES OV]4 ,/ATE [N]%IP ( ! PRODUCTIVE =CES IS NOT ! SOLUTION ( ! CONFLICT1 BUT IT CONCEALS )9 IT ! =MAL MEANS = ! SOLUTION ( ! PROBLEM4 ,:ILE = ,5GELS /ATE PROP]TY & MONOPOLIZATION DO NOT ELIM9ATE CAPITALISM'S SUSCEPTIBILITY TO CRISES & DEPRESSIONS1 = ,HILF]D+1 ON ! O!R H&1 !IR PROGRESSIVE DEVELOPM5T 9DICATES ! POSSIBILITY ( 5D+ ! CAPITALI/ CRISES & R$UC+ SOCIALISM TO A M]E POLITICAL PROBLEM4 ,AL?\< ! PRESSURES ON ALL NONCAPITALI/ CLASSES 9CREASE ) 9CREAS+ MONOPOLIZATION1 NONE!LESS1 IT WILL F9ALLY LEAD TO A CONSCI\SLY REGULAT$ SOCIAL R$UCTION1 LEAV+ ! REMA9+ SOCIAL ANTAGONISMS TO ! SPH]E ( DI/RIBUTION4 ,:AT REMA9$ TO BE DONE W\LD BE2 '! PLANN$ REGULATION ( ! ECONOMY1 NOT BY ! MAGNATES ( CAPITAL & 9 !IR SPECIFIC 9T]E/1 BUT ) REG>D TO ! NE$S ( ! :OLE SOCIETY & ?R\< SOCIETY4 ,! SOCIALIZ$ FUNCTIONS ( F9ANCIAL CAPITAL - ! COMB9ATION ( 9DU/RIAL & BANK+ CAPITAL MAKES ! OV]?R[ ( CAPITAL SO MU* EASI]4 
,AS SOON AS F9ANCIAL CAPITAL IS 9 CONTROL ( ! MO/ IMPORTANT BRAN*ES ( PRODUCTION1 IT SUFFICES ?AT SOCIETY1 BY MEANS ( !  PROLET>IAN /ATE1 APPROPRIATES F9ANCIAL CAPITAL & !REBY GA9S CONTROL OV] ! DOM9ANT BRAN*ES ( PRODUCTION4 

,= ,HILF]D+ F9ANCE CAPITAL HAD ALREADY COMPLET$ ! NECESS>Y EXPROPRIATION ( PRIVATE CAPITAL1 & NATIONALIZATION W\LD M]ELY PUT ! F9I%ES T\*ES ON ! SOCIALIZATION ( PRODUCTIVE  =CES 9ITIAT$ BY CAPITAL ITSELF4 ,LAT] ?IS IDEA WAS TAK5 UP BY ,L594 ,9 HIS WRIT+S ON IMP]IALISM HE DESCRIB$ /ATE CAPITALISM AT ! TURN ( ! C5TURY AS 'P>ASITIC1 /AGNAT+1 & DY+' & M>K$ BY ! 'SUB/ITUTION ( CAPITALI/ MONOPOLIES = CAPITALI/ FREE COMPETITION'4 ,BUT MONOPOLY IS ! TRANSITION FROM CAPITALISM TO A MORE HI<LY DEVELOP$ ORD]4 ,)\T GO+ 9TO ,L59'S !ORY ( IMP]IALISM1 WE MAY SAY ?AT = HIM IMP]IALISM CO9CID$ ) F9ANCE CAPITAL1 & ! LATT] WAS ORGANIZATIONALLY ! PRECURSOR ( SOCIALISM4 ,! C5TRALIZ$ ADM9I/RATIVE CONTROL OV] SOCIAL CAPITAL EX]CIS$ BY MONOPOLY F9ANCE HAD ONLY TO BE TAK5 OV] BY ! PROLET>IAN /ATE & PUT TO ! S]VICE ( SOCIETY AT L>GE4 

,?US WE SEE ?AT ?IS CONCEPT - :I* GOES BACK TO ,5GELS & WAS %>$ 9 COMMON BY ,HILF]D+ & ,L59 DESPITE !IR O!R DIFF]5CES - ?AT MONOPOLY CAPITALISM PAV$ ! WAY = SOCIALI/ SOCIETY1 IS ROOT$ 9 ! FALSE ASSUMPTION ?AT ! =MS ( SOCIAL ORGANIZATION ACCOMPANY+ CAPITAL CONC5TRATION W]E ID5TICAL ) ! SOCIALIZATION ( PRODUCTION4 ,BECAUSE ! 9DIVIDUAL 5T]PRISE WAS PRESUM$ TO BE ORGANIZ$ RATIONALLY & ACCORD+ TO PLAN1 AS OPPOS$ TO ! IRRATIONAL1 UNPLANN$ FUNCTION+ ( ! ECONOMY AS A :OLE1 ,L59 IMAG9$ ACCORD+LY A SOCIALI/ ECONOMY AS ONE HUGE FACTORY /E]$ BY ! /ATE4 ,9 ACTUALITY ! 9DIVIDUAL FIRM IS JU/ AS IRRATIONAL AS ! ECONOMY AS A :OLE1 UNLESS ( C\RSE ONE REG>DS ! CAPITALI/ PR(IT MOTIVE AS AN ECONOMICALLY RATIONAL PR9CIPLE ( PRODUCTION4 ,9DIVIDUAL FIRMS >E JU/ AS DEP5D5T ON ! LAW ( CAPITAL EXPANSION AS IS ! SOCIETY AS A :OLE & MU/ FUNCTION )9 ! FRAMEWORK ( G5]AL OR MONOPOLI/IC COMPETITION1 :I* DET]M9ES ! =M ( !IR ORGANIZATION4 

,9 !IR PURSUIT ( PR(IT MONOPOLIES ORGANIZE !MSELVES & NO MORE4 ,IF !Y W]E ALL BR\<T UND] ! C5TRAL CONTROL ( ! /ATE1 ! /ATE C\LD DO NO MORE ?AN REPRODUCE ?IS NEW CAPITAL RELATION BETWE5 ITSELF & ! PRODUC]S1 UNLESS ( C\RSE ! PRODUC$ ABOLI% ! /ATE4 ,!RE IS H>DLY ANY NE$ TO BELABOR ! PO9T FUR!R3 ! LONG EXI/5CE ( ! 0SOCIALI/ /ATES0 IS PRACTICAL PRO( 5\< ?AT ! T]M SOCIALISM IS NO MORE ?AN A COV] = TODAY'S /ATE CAPITALISM4 ,COMPLETE MONOPOLY OV] ! MEANS ( PRODUCTION DOES NOT DO AWAY ) ! CAPITAL-LABOR RELATIONS2 IT M]ELY FREES CAPITAL FROM M>KET COMPETITION )\T ABOLI%+ COMPETITION ITSELF4 ,QUITE AP>T FROM ! FACT ?AT COMPETITION CONT9UES TO EXI/ AT ! 9T]NATIONAL LEVEL1 EV5 )9 /ATE CAPITALISM IT M]ELY *ANGES ITS \TW>D APPE>ANCE BY MOV+ FROM ! ECONOMIC SPH]E 9TO POLITICS4 

,YET SO F> /ATE CAPITALISM HAS BE5 ! PRES]VE ( CAPITALI/ UND]DEVELOP$ C\NTRIES OR HAS BE5 IMPOS$ IMP]IALI/ICALLY ON DEVELOP$ C\NTRIES1 AS 9 ,EA/]N ,EUROPE2 & ! C\NTRIES ?AT FIT ,L59'S DESCRIPTION ( MONOPOLY CAPITALISM HAVE REMA9$ AT  ?IS /AGE1 AL?\< ! ROLE ( ! /ATE 9 !M HAS GR[N4 ,! CONDITIONS ( A MONOPOLI/ICALLY CONTROLL$ WORLD M>KET PRECLUD$ ANY POSSIBILITY ( CAPITALI/ DEVELOPM5T BY WAY ( COMPETITION = ! UND]DEVELOP$ C\NTRIES4 ,9 A SITUATION MORE OR LESS SIMIL> TO ! PRO-REVOLUTION>Y /ATUS 9 ,RUSSIA1 ?AT IS1 ) A WEAK B\RGEOISIE1 A PROLET>IAN M9ORITY1 & A PR$OM9ANTLY AGR>IAN POPULATION1 !SE NATIONS C\LD ONLY C\NT] ! HEAD />T ( ! MONOPOLI/IC NATIONS BY E/ABLI%+ EV5 MORE RIGID MONOPOLI/IC CONTROL OV] ECONOMIC LIFE4 ,MONOPOLY CAPITALISM  EVOKES /ATE CAPITALISM NOT )9 MONOPOLI/IC ECONOMIES BUT 9 ! /RUGGLE AGA9/ !M4 

,9DE$1 ,RUSSIA'S EXAMPLE HAS %[N ?AT A /ATE-CONTROLL$ ECONOMY IS ABLE TO SPE$ UP 9DU/RIALIZATION1 AT LEA/ 9 L>GE NATIONS1 EV5 IF ONLY AT ! EXP5SE ( ! WORK+ POPULATION & TO ! B5EFIT ( /ATE CAPITALISMS NEWLY SPAWN$ RUL+ CLASS4 

,PROMPT$ BY ! MAJOR ROLE PLAY$ BY ! /ATE 9 ! W> ECONOMIES ( ,WORLD ,W> ,I1 ,L59 WAS L$ TO REG>D MONOPOLY CAPITALISM ) ITS IMP]IALI/ IMP]ATIVE1 AS /ATE MONOPOLY CAPITALISM 9 :I* ! /ATE S]VES ! MONOPOLIES4 ,! NEXT /EP 9 ! ]ECTION ( SOCIALISM 9 CAPITALI/ C\NTRIES W\LD !N ACCORD+LY BE TO SEV] ! /ATE'S TIES TO MONOPOLY 9T]E/S & REORGANIZE IT TO S]VE ! 9T]E/S ( ! POPULATION AS A :OLE4 

,FIR/1 H[EV]1 IT WAS NECESS>Y TO SMA% ! /ATE ( ! MONOPOLI/S  TO MAKE WAY = A NEW /ATE1 :I* C\LD !N GET D[N S]I\SLY TO ! TASK ( ABOLI%+ CAPITALI/ EXPLOITATION4 ,/ATE-MONOPOLY CAPITALISM WAS TO GIVE WAY TO ! SOCIALI/ /ATE1 )\T LOS+ !REBY ITS C5TRALIZ$ ADM9I/RATIVE CONTROL OV] ! ECONOMY AT L>GE4 ,L59I/S /ILL ADH]E TO ?IS PROGRAM1 AL?\< IT AM\NTS TO NO?+ MORE ?AN ! ATTEMPT TO DRIVE \T ! DEVIL ) ,BEELZEBUB4 

,) /ATE CAPITALISM ID5TIFI$ ) SOCIALISM1 REG>D$ AS A TRANSITION TO A /ATELESS COMMUNISM SET SOMETIME 9 ! F>-DI/ANT FUTURE1 ! /RUGGLE = SOCIALISM BECOMES A /RUGGLE AGA9/ PRES5T-DAY /ATE-MONOPOLY CAPITALISM4 ,?IS /RUGGLE CAN ONLY BE A REVOLUTION>Y /RUGGLE1 S9CE /ATE-MONOPOLY CAPITALISM WILL H>DLY H& 9 ITS RESIGNATION VOLUNT>ILY4 ,AL?\< /ATE CAPITALISM /ILL CONT9UES WORK] EXPLOITATION1 IT NEV]!LESS DOES DE/ROY ! CLASS DOM9ATION ( ! B\RGEOISIE4 ,BUT ! COMMUNI/ P>TIES 9 ! ,WE/]N NATIONS1 :I* N[ APPE> TO HAVE TAK5 UP ! BANN] AGA9/ /ATE-MONOPOLY CAPITALISM1 HAD CEAS$ AS LONG AGO AS #aib TO BE A REVOLUTION>Y MOVEM5T4 ,!Y >E NO LONG] PREP>$ TO PUT ?R\< !IR [N PROGRAM BY REVOLUTION>Y MEANS1 & !Y >E WAG+ A MOCK BATTLE AGA9/ /ATE-MONOPOLY CAPITALISM 9 ORD] TO GA9 = !MSELVES PLACES ( 9FLU5CE )9 ! EXI/+ SY/EMS4 

,?IS IS NOT TO SAY ?AT ! ,WE/]N COMMUNI/ P>TIES HAVE AB&ON$ !IR [N GOALS4 ,:5EV] & :]EV] ! OPPORTUNITY PRES5TS ITSELF1 ONE CAN BE SURE !Y WILL ATTEMPT TO DIV]T EV]Y SUCCESSFUL ANTICAPITALI/ MOVEM5T 9 ! DIRECTION ( /ATE CAPITALISM4 ,S9CE SU* MOVEM5TS >E NOT YET ON ! AG5DA1 !SE P>TIES P\R ALL !IR EF=TS 9TO A /RUGGLE = POSITIONS ( P[] )9 ! EXI/+ SOCIETY1 & !IR '/RUGGLE' AGA9/ /ATE-MONOPOLY CAPITALISM BECOMES AN EMPTY PROPAG&I/IC SLOGAN TO MOBILIZE ! MASSES BEH9D !M1 MASSES AS YET TURN$ ONLY AGA9/ ! 'BAD SIDES ( CAPITALISM1' NOT AGA9/ CAPITALISM ITSELF4 ,9DE$1 ! COMMUNI/ P>TIES >E NEI!R AGA9/ CAPITALISM NOR AGA9/ ! /ATE2 !Y >E ONLY AGA9/ A /ATE ?AT IS :OLLY 9 ! S]VICES ( ! MONOPOLIES & = A /ATE & A CAPITALISM ?AT S]VE ! COMMON 9T]E/4 

,BUT A COMMON 9T]E/ CAN ONLY EXI/ UND] CLASSLESS SOCIALISM4 ,UND] CAPITALISM !RE EXI/ ONLY IRRECONCILABLE CLASS 9T]E/S4 ,!RE=E CAPITALI/ICALLY 9CL9$ SOCIAL /RATA ?AT >E ! VICTIMS ( MONOPOLIZATION CANNOT BE WON OV] TO SOCIALISM BECAUSE !IR SPECIAL SOCIAL POSITIONS W\LD BE DE/ROY$ EV5 MORE RAPIDLY & ?OR\<LY UND] IT ?AN UND] MONOPOLY CAPITALISM4 ,AT MO/ !Y CAN BE WON OV] TO A CAPITALI/ PROGRAM ?AT CAT]S TO !IR SPECIAL 9T]E/S1 9 A WORD1 AN ANTISOCIALI/ POLICY4 ,?US BEH9D ! SLOGAN ( A /RUGGLE AGA9/ /ATE-MONOPOLY CAPITALISM LURKS ! PROCLAMATION ( A C\NT]REVOLUTION>Y POLICY DIRECT$ AGA9/ SOCIALISM4 

,IT IS1 H[EV]1 QUITE CONCEIVABLE ?AT AS MONOPOLI/IC PRESSURE 9T5SIFIES1 DRIV+ SEGM5TS ( ! PETIT B\RGEOISIE 9TO ! PROLET>IAT1 SOME ( !SE PETIT B\RGEOIS LAY]S WILL BE P]SUAD$ ?AT !IR LA/ *ANCE LIES ) /ATE CAPITALISM1 :I* !Y HOPE WILL ?R[ OP5 ! GAT$ TO ! C>E] MONOPOLY CAPITALISM HAD B>R$ TO !M ONE GLIMPSE 9TO ! 0SOCIALI/ C\NTRIES0 IS SUFFICI5T TO CONFIRM !IR OPTIMI/IC EXPECTATIONS4 ,H[EV]1 = ! WORK]S ! SAME GLIMPSE GIVES A SOME:AT DIFF]5T PICTURE4 ,!Y HAVE NO BURN+ DESIRE = ?IS K9D ( SOCIALISM4 ,!RE=E = !M COMMUNI/ POLICY1 9 C\NTRIES :]E IT C>RIES SOME WEI<T1 E4G41 9 ,FRANCE OR ,ITALY1 DOES NOT REPRES5T ! EMBODIM5T ( ! DESIRE = ! REVOLUTION>Y TRANS=MATION ( /ATE-MONOPOLY CAPITALISM 9TO /ATE CAPITALISM1 BUT !IR ONLY IMM$IATE 9T]E/S )9 ! EXI/+ SOCIAL SY/EM4 ,! FUNCTIONS ( ! COMMUNI/ P>TIES >E RECORDI/1 NOT REVOLUTION>Y1 & ULTIMATELY1 !RE=E1 !Y W]E TO SU/A9 ! CONT9U$ EXI/5CE ( /ATE-MONOPOLY CAPITALISM4 

,9 ! LI<T ( ?IS SITUATION1 ! %AM /RUGGLE AGA9/ /ATE-MONOPOLY CAPITALISM IS ONLY A SLOGAN ( EMB>RASSM5T4 ,! COMMUNI/ P>TIES HAVE = A LONG TIME N[ BE5 UNWILL+ TO M\NT AN (F5SIVE AGA9/ CAPITALISM ITSELF ON EI!R A NATIONAL OR AN 9T]NATIONAL SCALE - 'PEACEFUL COMPETITION' & ! BUS9ESS TIES BETWE5 ! DIFF]5T SOCIAL SY/EMS >E PRO( 5\< ( ?IS4 ,AT ! NATIONAL LEVEL !Y TAKE PA9S TO ASSURE ?AT !Y >E AGA9/ ONLY ! SELF-SEEK+ UNCURB$ P[] ( ! MONOPOLIES1 NOT AGA9/ ! /ATE OR CAPITALISM ITSELF1 & ?AT /ATE 9VOLVEM5T IS REQUIR$ TO BR+ ! MONOPOLIES UND] /ATE CONTROL4 ,AT ! 9T]NATIONAL LEVEL ! ALLEG$ /RUGGLE AGA9/ /ATE-MONOPOLY CAPITALISM S]VES ! 5DS ( AN OPPORTUNI/IC IMP]IALI/ POLICY4 ,!Y >E NOT AGA9/ IMP]IALISM AS SU*1 ONLY AGA9/ ! IMP]IALI/ POLICIES ( O!R NATIONS1 :I* S]VE ! 9T]E/S ( !IR NATIONAL MONOPOLIES TO ! DISADVANTAGE ( !IR [N C\NTRY'S IMP]IALI/ OR NATIONAL 9T]E/S4 ,! DI/9CTION BETWE5 CAPITALISM & /ATE-MONOPOLY CAPITALISM CAN BE US$ TO JU/IFY EI!R ALLIANCES OR ELA/ICITIES BETWE5 ! 'SOCIALI/' & ! CAPITALI/ C\NTRIES1 AS WELL AS DIFF]5CES AMONG ! 'SOCIALI/' C\NTRIES !MSELVES4 ,9 O!R WORDS1 ! COMMUNI/ P>TIES UTILIZE ! SLOGAN ( /RUGGL+ AGA9/ /ATE-MONOPOLY CAPITALISM ONLY TO CONCEAL !IR [N CAPITALI/1 H5CE IMP]IALI/1 POLICY & TO W9 ! SUPPORT ( ! WORK]S4 

,! '!ORY' ( /ATE-MONOPOLY CAPITALISM SOLVES1 !N1 ON ! ONE H&1 AS AN APOLOGY = ! TOTALLY RECORDI/ ACTIVITY ( ! COMMUNI/ P>TIES 9 ! CAPITALI/ C\NTRIES &1 ON ! O!R H&1 ! *ANG+ DEM&S ( IMP]IALI/ P[] POLITICS1 IT GIVES NOTICE1 !RE=E1 ?AT DESPITE ALL !IR PO9TS ( DIFF]5CE1 BO? CAPITALI/ & 'SOCIALI/' C\NTRIES HAVE TAK5 UPON !MSELVES ! JO9T TASK ( DEF5D+ CAPITALI/ PRODUCTION RELATIONS AGA9/ ANY SOCIALI/ TRANS=MATION4 ,?IS IS NO:]E MORE OBVI\S ?AN 9 ! CURR5T CONV]G5CE !ORY1 O/5SIBLY ROOT$ 9 9DU/RIALIZATION1 :I* SEEKS TO OBLIT]ATE ! DIFF]5CES BETWE5 !SE TWO DIFF]5T SOCIAL SY/EMS4 ,S9CE ! 9DU/RIALIZATION PROCESS IS ! SAME UND] BO? /ATE CAPITALISM & MONOPOLY CAPITALISM1 ! SOCIAL =MATIONS1 ACCORD+ TO ?IS !ORY1 DIFF] ONLY 9 ! DEGREE ( C5TRALIZATION ( ADM9I/RATIVE CONTROL OV] SOCIAL PRODUCTION & DI/RIBUTION4 ,BUT S9CE UND] /ATE-MONOPOLY CAPITALISM ?IS ADM9I/RATIVE CONTROL HAS ALREADY BR\<T AB\T A SEP>ATION BETWE5 [N]%IP & MANAGEM5T1 ONLY A SMALL /EP REMA9S TO COMPLETE ! TRANS=MATION ( PRIVATE CAPITALISM TO /ATE CAPITALISM1 ONE ?AT CAN BE ACCOMPLI%$ POLITICALLY4 ,) ?IS /EP A*IEV$1 SOCIALISM WILL HAVE BE5 BORN \T ( CAPITALISM1 M>K+ ! 5D ( SOCIAL CLASS /RUGGLES4 

,FUR!RMORE1 S9CE NO?+ ELSE NE$ BE *ANG$ 9 ! EXI/+ SY/EM ( PRODUCTION ASIDE FROM ABOLI%+ ! MONOPOLIES1 !RE IS NO?+ 9 ! SY/EM ?AT %\LD NOT BE ADEQUATE TO ! NE$S ( SOCIALISM AS WELL4 ,?IS EXPLA9S ! RELATIVE 9DIFF]5CE %[N TODAY T[>D ! RECURR5T CRISES ( PRES5T-DAY CAPITALISM4 ,! BLAME = ! DIFFICULTIES & 9JU/ICES ) :I* IT CONT9UES TO BE BESET IS LAID ON ! /ATE1 :I* HAS ASSUM$ ! 9T]E/S ( ! MONOPOLIES AS ITS [N 9T]E/S4 ,!RE=E M]ELY ANO!R /ATE OR ANO!R GOV]NM5T1 NOT A DIFF]5T ECONOMIC SY/EM1 IS :AT IS REQUIR$4 ,PRES5T-DAY CAPITALISM & /ATE CAPITALISM EXP]I5CE A MEET+ ( ! M9DS ON ?IS PO9T AS WELL4 ,/ATE-MONOPOLY CAPITALISM ALSO IMAG9ES ?AT IT1 TOO1 HAS PUT AN 5D TO CRISES ?R\< /ATE 9T]V5TIONI/ POLICIES4 ,AS ?IS ILLUSION /EADILY LOSES CR$IBILITY 9 ! FACE ( ! H>D FACTS1 OPPOSITION TO /ATE-MONOPOLY CAPITALISM ADOPTS ! GOAL ( A BROAD]1 & 9 ! 5D A TOTAL1 /ATE CONTROL ( ! ECONOMY TO AVOID FUR!R CONVULSIONS4 

,AS AMONG ! B\RGEOISIE ITSELF1 A CAPITALI/ SOLUTION IS S\<T TO CAPITALI/ CONTRADICTIONS4 ,! 0LEFT0 IS PREP>$ TO SACRIFICE MONOPOLIES TO SAVE CAPITALISM4 ,! B\RGEOISIE AS LONG AGO GIV5 UP BELIEF 9 AUTOMATIC REGULATION ( ! ECONOMY ?R\< ! M>KET4 ,AS COMPETITION PET] \T1 PRICES & PR(ITS >E NO LONG] DET]M9$ BY ! M>KET BUT SET AT WILL BY ! MONOPOLIES4 ,S9CE1 H[EV]1 NO?+ CAN BE *ANG$ 9 ! MONOPOLI/IC /RUCTURE ( ! ECONOMY1 ! /ATE MU/ 9T]V5E NOT ONLY TO 5SURE FULL EMPLOYM5T ?R\< MONEY & FISCAL POLICIES1 BUT ALSO TO REGULATE WAGES & PRICES 9 ! 9T]E/S ( ECONOMIC /ABILITY4 ,IT IS ! TASK ( ! /ATE TO A*IEVE BY POLITICAL MEANS :AT ! CAPITALI/ M>KET IS UNABLE ANY LONG] TO A*IEVE BY ITSELF4 ,9DE$1 /ATE 9T]V5TION HAS GR[N /EADILY1 & /ATE ECONOMIC POLICIES W]E GIV5 CR$IT = P]IODS ( ECONOMIC PROSP]ITY1 PROMPT+ ! NOTION ?AT CAPITALISM ACTUALLY WAS SUSCEPTIBLE TO RATIONAL CONTROL4 

,SOCIALI/ !ORIES HAD ANTICIPAT$ ?IS VIEW4 ,HILF]D+ WROTE1 = 9/ANCE3 

0,! MONOPOLI/IC ELIM9ATION ( COMPETITION ALSO ELIM9ATES ! OBJECTIVELY GIV5 PRICE RELATIONS4 ,PRICES CEASE BE+ OBJECTIVE MAGNITUDES & BECOME A M]E 9/RUM5T ( ACC\NT = ?OSE :O CONSCI\SLY DET]M9E :AT ! PRICES %\LD BE4 ,! REALIZATION ( ! ,M>XIAN DOCTR9E ( CAPITAL CONC5TRATION 9 MONOPOLY CAPITALISM ELIM9ATES ALSO ! ,M>XIAN LABOR !ORY ( VALUE40 

,:AT ,HILF]D+ DID NOT SEE WAS ?AT 9 ,M>X'S !ORY ( VALUE1 ! LAW ( VALUE DET]M9$ ONLY ! G5]AL PRICE LEVEL & ITS FLUCTUATIONS1 NOT PRICES !MSELVES4 ,COMPETITION T5DS T[>D AN AV]AGE RATE ( PR(IT1 :I* IS ! RESULTANT ( DEVIATIONS BETWE5 PRICE & VALUE4 ,SURPLUS PR(ITS OR MONOPOLY PRICES HAVE BE5 A CON/ANT FEATURE ?R\<\T ALL ( CAPITALI/ DEVELOPM5T & ONE ( ! REASONS = ACCEL]AT$ ACCUMULATION4 ,AS MONOPOLIZATION PROGRESSES1 MONOPOLY PRICES R$UCE ! AV]AGE RATE ( PR(IT ( COMPET+ CAPITALS4 ,PR(ITS H]E >E TRANSF]R$ FROM ! SPH]E ( COMPETITION TO ! SPH]E ( MONOPOLIES4 ,AS COMPETITION DECL9ES1 ! POSSIBILITY ( TRANSF]R+ PR(ITS FROM ! COMPETITIVE SECTOR TO ! MONOPOLY SECTOR ( ! ECONOMY ALSO DIM9I%ES2 ?R\< ! LAW ( VALUE ! MONOPOLI/IC RATE ( PR(IT T5DS TO BECOME ! AV]AGE RATE ( PR(IT4 

,A MONOPOLI/IC ECONOMY DOES NOT ABOLI% ! LAW ( VALUE2 ON ! CONTR>Y1 IT REAFFIRMS IT1 S9CE ! RATE ( PR(IT & H5CE ! RATE ( ACCUMULATION CONT9UE TO FALL UND] MONOPOLY CAPITAL AS WELL1 NECESSITAT+ /ATE 9T]V5TION 9 ! ECONOMY4 ,BUT SU* 9T]V5TIONS >E LIMIT$ BY CAPITALI/ PRODUCTION RELATIONS !MSELVES & CAN ONLY BE SE5 AS %ORT-T]M MEASURES4 ,ONCE !IR POSSIBILITIES >E EXHAU/$1 ! CAPITALI/ CRISIS CYCLE RESUMES1 & ONCE AGA9 ! REVOLUTION>Y TRANS=MATION ( ! CAPITALI/ SY/EM BECOMES A REAL POSSIBILITY1 UND] /ATE-MONOPOLY CAPITALISM1 AS UND] CAPITALISM 9 ANY O!R =M1 ! TASK ( ! PROLET>IAT  REMA9S ONE & ! SAME1 NAMELY1 ! ABOLITION ( CAPITALI/ RELATIONS ?R\< ! ELIM9ATION ( WAGE LABOR 9 A CLASSLESS SOCIETY4 

,FROM 3 ,M>XI/S4ORG4 

,*RONOLOGY 3 
,M>* #c1 #bba 3 ,*APT] #d -- ,ADD$4 

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