Munich Personal RePEc Archive

Laws of Concentration and Centralization of Capital: A Modern Review

Dutta, Sourish (2014): Laws of Concentration and Centralization of Capital: A Modern Review.

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Abstract

Though the basic (late 1860s) Marxian model, under the capitalist mode of production, assumes (more or less) perfect competitive or contestable ambiance within the market by means of a large number of trivial firms in each industry, Marx was cognizant of the growing size of firms, the subsequent dwindling of competition, and the evolution of monopolistic or anticompetitive power. Hence, the capital has the inclination for concentration and centralization in the hands of the richest and big capitalists. Actually, the concentration and centralization of capital are two capital accumulation (or self-expansion of capital) techniques. Such concentration and centralization of capital can be clearly detected at this modern time—especially in the USA—in the enormous occurrences of the mergers, acquisitions and conglomerates. In this assignment, henceforth, I will be trying to cultivate an analytical discussion about these two interlinked concepts and their implications and repercussions in this modern world of capitalism.

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