William K. Carroll's Corporate Power and Canadian Capitalism PDF

By William K. Carroll

ISBN-10: 0774802464

ISBN-13: 9780774802468

Challenging regular dependency conception, William Carroll argues from empirical facts that Canada's financial-industrial elite have maintained and consolidated their aggressive place on the centre of an inter-corporate community. Corporate energy and Canadian Capitalism therefore recognizes the surprisingly excessive measure to which capital is targeted in a comparatively few gigantic organisations in Canada, however it denies that those advertisement pursuits are subordinated to American company capital.

To try the validity of this new point of view at the transformation of indigenous capitalists right into a nationwide bourgeoisie, Carroll strains the buildup of capital within the greatest Canadian companies and the institutional kin that experience existed one of the related corporations on the grounds that international struggle II. rather than promoting out to international capital, Canadian corporations have in truth turn into more and more interlocked, and Canadian-controlled businesses were and remain the focal point of either the commercial and fiscal sectors, with foreign-controlled businesses occupying decidedly peripheral positions.

From this interpretative place, Canada's improvement is visible as markedly just like that of different complex capitalist international locations, culminating in consolidation of keep an eye on less than an elite observed either by way of penetration of overseas economies by way of household monetary capitalists and a concomitant penetration of the family economic climate via international capital.

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Merchant capital promotes circulation in general and provides for the realization of surplus value in the sale of commodities to "ultimate con- Rethinking Canadian Dependency 27 sumers"; interest-bearing capital promotes accumulation by financing new or expanded enterprise. As capitalism develops, new forms of industrial and commercial capital emerge, such as railways, hydro-electric or nuclear power stations, and corporate share capital. Their location in the global process of capitalist accumulation can be determined through analysis of their function in the production and circulation of surplus value.

Occasionally, high-growth LDCs exhibit some of the supposed symptoms of dependency, but often they do not. In export-platform economies such as Hong Kong and South Korea there is a substantial indigenous bourgeoisie controlling most of the manufacturing sector and such elaborate use of advanced technology that, by the late 1970's Taiwan and Singapore were competing head-to-head as major exporters of machine tools to the United States (Cypher 1979a; Barone 1983). According to Lall (1975; see also Lipietz 1984 pp.

In the concentration and centralization of capital and in the development of the credit system, Marx saw a deepening of the basic contradiction between socialized production and private ownership of the means of production. ). THE THEORY OF MONOPOLY CAPITALISM As Mandel (1968, 394) notes, a strong stimulant to further concentration and centralization of industrial capital was provided by the second industrial revolution at the end of the nineteenth century. The first industrial revolution had been based on steam power, cotton, and coal and had spurred development of capitalist production in Europe and North America.

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Corporate Power and Canadian Capitalism by William K. Carroll

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