Rudolf Hilferding (1877–1941)
Author of Finance Capital: A Study in the Latest Phase of Capitalist Development
About the Author
Image credit: Rudolf Hilferding
Works by Rudolf Hilferding
Organisierter Kapitalismus 1 copy
Hilferding: os economistas 1 copy
Associated Works
Tagged
Common Knowledge
- Other names
- Гильфердинг, Рудольф
- Birthdate
- 1877-08-10
- Date of death
- 1941-02-11
- Gender
- male
- Education
- University of Vienna
- Occupations
- politician
Members
Reviews
You May Also Like
Associated Authors
Statistics
- Works
- 8
- Also by
- 1
- Members
- 111
- Popularity
- #175,484
- Rating
- 3.1
- Reviews
- 1
- ISBNs
- 21
- Languages
- 3
To summarize the argument, the growing concentration of corporate ownership in all major industrial countries has the effect of narrowing the range of competition, while at the same time it creates a homogeneous class of decision-makers in charge of the leading banks and industrial monopolies. It makes possible a degree of conscious control over the economy, but without eliminating the conflicting class interests characteristic of capitalism. The contradiction between the rational management of particular branches of production, and the basic irrationality of the system as a whole, finds expression in attempts to ‘plan’ those sections of the economy which have fallen under corporate control. The counterpart of this increasing trend towards monopoly is a growth of tariff protection. Nationally, this trend leads to the gradual disappearance of competition and the subordination of the smaller entrepreneurs to the large corporations. Internationally, it eliminates free trade and thereby intensifies political antagonisms. Rival groups in different countries seek to monopolize markets and raw material sources. The purpose of tariffs now is to exclude all foreign imports which might compete with the monopolies, while products unsalable at home at the higher price are dumped abroad. Colonial imperialism, i.e., armed expansion into undeveloped regions, is a byproduct of this process, for in conjunction with tariff protections it enlarges the area controlled by the national monopolies. The end result of this contest is war, or at least war-like tendencies, on the part of the nations concerned. Thus in the last analysis the centralization of capital leads to international anarchy, mounting national antagonisms, and finally armed conflict. [1961]… (more)