Re: [Pen-l] Re: hegemony

["Jim Devine" <jdevine03@xxxxxxxxx>]

me:
>> Each corporation wants to out-WalMart WalMart...

Sabri --
> Out-Walmarting Walmart is not what each corporation wants. What they
> appear to want is no Walmarts but them.

they do that by trying out-Walmartihng Walmart.

> Was it not what monopoly
> capitalism of Baran and Sweezy was about? Were those two guys stupid
> because they claimed that?

I think Marx was better: he saw competition as generating monopoly --
and vice-versa.

Baran & Sweezy were quite smart, but their picture of capitalism, like
that of John Kenneth Galbraith, applied well only from the mid-1950s
(when Baran's POLITICAL ECONOMY OF GROWTH was published) until the
late 1960s (after MONOPOLY CAPITAL was published). They had a static
picture of capitalism, but capitalism keeps on changing.

> If there is monopoly, or even oligopoly, in a market, what you get are rents!
>
> In the presence of non-oligopolistic competition, profits go to zero!

"normal" profits (the simple reward for owning capital in a capitalist
society) don't go to zero.

-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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