Monopoly capitalism in the past four decades

Abstract

Abstract Monopoly capitalism can be seen as ‘actually existing neo-liberalism’, and the ‘worship of markets’ from doctrines of neo-liberalism operates to support monopoly capitalism. In recent decades, there has been an evolution from forms of national monopoly capitalism to transnational monopoly capitalism. Aspects of the processes of financialisation are explored for relevance for the evolution of monopoly capitalism. Recent trends in concentration and market power are consistent with the monopoly capitalism analysis, and review the links with profitability and investment. Ideas of secular stagnation have long been associated with monopoly capitalism, and that association is revisited in light of recent economic experience.