Monopoly Capitalism: Corporation, Surplus, and Stagnation

This article analyzes the fundamental transformation of the contemporary economic system, in which the giant corporation assumes a central role. Drawing on the theory of Baran and Sweezy, the text explains how the replacement of the individual entrepreneur with impersonal decision-making centers leads to the generation of enormous economic surplus. The authors point to mechanisms for its absorption, such as sales effort, militarism, and the development of the financial sector, which are intended to prevent chronic stagnation. The analysis also covers the phenomenon of price rigidity and non-price competition in oligopoly. This is a crucial insight into the architecture of economic power, where the pursuit of capital accumulation encounters investment barriers, shaping the face of contemporary political economy and its structural constraints.