Re: The economy - a new era?

[Doug Henwood <dhenwood@xxxxxxxxx>]

Marvin Gandall wrote:

> This is true, but I think the classical socialist movement favoured
> concentration for mostly economic rather than political reasons -- ie.,
> like bourgeois economics, Marxists and social democrats saw
> concentration as "historically progressive" because it yielded economies
> of scale, and large-scale enterprises could more easily be brought under
> public ownership without the need for much prior industrial
> reorganization in the affected sector.

I don't have the exact quote in front of me, but at the end of his
book on J.P. Morgan, Vincent Carasso quoted a unnamed socialist who
said on the occasion of Old Livernose's death that unlike many
populists, socialists didn't object to Morgan because he proved in
practice what they hold in theory, that competition isn't necessary
for the organization of economic life.

Doug