Tom Fency tomfency at
Sat Jul 24 11:38:56 CDT 2004

Well, Keets, the exact term is Monopolistic State Capitalism, a post-Marxian 
definition, also used in Frankfurt School and others. I sincerely think that 
it's the best proxy to define Capitalism nowadays, in spite of its origin on 
leninist literature and its radical bias. No need to agree with the real 
experiences occurred in USSR and others (talking about, did you see the 
movie "Good-bye Lenin" -- it's about life in East German and it's great) to 
use a viewpoint of post-Marxian literature. It's my humble opinion, of 


>From: "L. Bird" <pkeets at>
>Reply-To: The Who Mailing List <thewho at>
>To: thewho at
>Subject: RE: Capitalism
>Date: Sat, 24 Jul 2004 05:53:24 +0000
>>The nowadays Capitalism is, in some thought schools, named as Monopolic 
>>Capitalism of State, considering how intricate is the relationship between 
>>the large corporations and the State itself,
>including foreign involvement in countries responsible for strategic 
>commodities -- like oil, for instance.
>Thanks for the input, Tom.  I hadn't heard it called that before.  
>Actually, Marx is underrated as far as economic thought goes.  He made some 
>serious errors in predicting the success of communism, but he did 
>accurately predict the business cycle and expected this would evenutally 
>produce monopolies under a capitalist system, i.e. that the weakest 
>businesses will fail during a recession and be bought up by larger ones.
>What he says about monopolies is what we don't want to try out.  This is:  
>Once the means of production (and thus wealth) are owned by a small group, 
>wealth will be forcibly redistributed by revolution.  We certainly don't 
>want to forget this is the reason for social security programs within 
>Western capitalist economies.
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