Monopoly and Competition in the 21st Century

Monopoly and Competition in the 21st Century“, (coauthored with Robert W. McChesney and R. Jamil Jonna, Foster listed first), Monthly Review vol. 62, no. 11 (April 2011), pp. 1-39. DOI: 10.14452/MR-062-11-2011-04_1

A striking paradox animates political economy in our times. On the one hand, mainstream economics and much of left economics discuss our era as one of intense and increased competition among businesses, now on a global scale. It is a matter so self-evident as no longer to require empirical verification or scholarly examination. On the other hand, wherever one looks, it seems that nearly every industry is concentrated into fewer and fewer hands. Formerly competitive sectors like retail are now the province of enormous monopolistic chains, massive economic fortunes are being assembled into the hands of a few mega-billionaires sitting atop vast empires, and the new firms and industries spawned by the digital revolution have quickly gravitated to monopoly status. In short, monopoly power is ascendant as never before.

  • Chinese translation in Foreign Theoretical Trends (published in two parts), 2011).
  • Korean translation in The Breath of Life in the Landscape June 2014).]


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