Abstract

SILVA COLMENARES, Julio  and  PADILLA PARDO, Carolina. CENTRALIZATION OF CAPITAL: DETERMINANT PROCESS IN THE TRANSNATIONALIZATION OF CONTEMPORARY CAPITALISM. Tend. [online]. 2017, vol.18, n.1, pp.127-144. ISSN 0124-8693.  https://doi.org/10.22267/rtend.171801.69.

While several currents of economic thought still see free competition as the foundation of contemporary capitalism and monopolies either oligopolies as market failures, in this article the hypothesis holds that competition promotes the processes of concentration of production and centralization of capital that give rise to a monopoly stage of capitalism in which large companies emerge in the form of financial groups or conglomerates, which transcend national borders and have the capacity to influence the conditions that determine the encounter between suppliers and consumers. This phenomenon is not exclusive to rich countries but also occurs in poor countries characterized by a «late and dependent capitalism», without competition but with a strong presence of financial oligarchy. The transnationalization of Colombian companies can expose a practical example of this.

Keywords : monopolies; oligopolies; transnational corporations; financial groups.

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