Capital concentration, of course, does not mean that in a given market,
dominance will continue forever by the same firms, no matter what. However,
the fact that the companies that dominate a market can change over time
is no great cause for joy (no matter what supporters of free market capitalism
claim). This is because when market dominance changes between companies all
it means is that old Big Business is replaced by new Big Business:
"Once oligopoly emerges in an industry, one should not assume that
sustained competitive advantage will be maintained forever. . . once
achieved in any given product market, oligopoly creates barriers to entry
that can be overcome only by the development of even more powerful forms
of business organisation that can plan and co-ordinate even more complex
specialised divisions of labour." [William Lazonick, Business Organisation
and the Myth of the Market Economy, p. 173]
Hardly a great improvement as changing the company hardly changes the impact
of capital concentration or Big Business on the economy. While the faces
may change, the system itself remains the same.
In a developed market, with a high degree of monopoly (i.e. high market
concentration and capital costs that create barriers to entry into it),
new companies can usually only enter under four conditions:
1) They have enough capital available to them to pay for set-up costs and
any initial losses. This can come from two main sources, from other parts
of their company (e.g. Virgin going into the cola business) or large
firms from other areas/nations enter the market. The former is part of
the diversification process associated with Big Business and the second
is the globalisation of markets resulting from pressures on national
oligopolies (see section C.4). Both of which increases competition
within a given market for a period as the number of firms in its
oligopolistic sector has increased. Over time, however, market forces
will result in mergers and growth, increasing the degree of monopoly
again.
2) They get state aid to protect them against foreign competition (e.g.
the South East Asian "Tiger" economies or the 19th century US economy) -
"Historically, political strategies to develop national economies have
provided critical protection and support to overcome. . . barriers to
entry." [William Lazonick, Op. Cit., p. 87]
3) Demand exceeds supply, resulting in a profit level which tempts other
big companies into the market or gives smaller firms already there excess
profits, allowing them to expand. Demand still plays a limiting role
in even the most oligopolistic market (but this process hardly decreases
barriers to entry/mobility or oligopolistic tendencies in the long run).
4) The dominant companies raise their prices too high or become complacent
and make mistakes, so allowing other big firms to undermine their position
in a market (and, sometimes, allow smaller companies to expand and do the
same). For example, many large US oligopolies in the 1970s came under
pressure from Japanese oligopolies because of this. However, as noted
in section C.4.2, these declining oligopolies can see their market control
last for decades and the resulting market will still be dominated by
oligopolies (as big firms are generally replaced by similar sized, or
bigger, ones).
Usually some or all of these processes are at work at once.
Let's consider the US steel industry as an example. The 1980's saw the
rise of the so-called "mini-mills" with lower capital costs. The
mini-mills, a new industry segment, developed only after the US steel
industry had gone into decline due to Japanese competition. The creation
of Nippon Steel, matching the size of US steel companies, was a key factor
in the rise of the Japanese steel industry, which invested heavily in
modern technology to increase steel output by 2,216% in 30 years (5.3
million tons in 1950 to 122.8 million by 1980). By the mid 1980's, the
mini-mills and imports each had a quarter of the US market, with many
previously steel-based companies diversifying into new markets.
Only by investing $9 billion to increase technological competitiveness,
cutting workers wages to increase labour productivity, getting relief
from stringent pollution control laws and (very importantly) the US
government restricting imports to a quarter of the total home market
could the US steel industry survive. The fall in the value of the dollar
also helped by making imports more expensive. In addition, US steel
firms became increasingly linked with their Japanese "rivals," resulting
in increased centralisation (and so concentration) of capital.
Therefore, only because competition from foreign capital created space in
a previously dominated market, driving established capital out, combined
with state intervention to protect and aid home producers, was a new segment
of the industry able to get a foothold in the local market. With many
established companies closing down and moving to other markets, and once
the value of the dollar fell which forced import prices up and state
intervention reduced foreign competition, the mini-mills were in an
excellent position to increase US market share.
This period in the US steel industry was marked by increased "co-operation"
between US and Japanese companies, with larger companies the outcome.
This meant, in the case of the mini-mills, that the cycle of capital
formation and concentration would start again, with bigger companies
driving out the smaller ones through competition.
So, while the actual companies involved may change over time, the economy
as a whole will always be marked by Big Business due to the nature of
capitalism. That's the way capitalism works -- profits for the few at the
expense of the many.
“That’s a big honor,” commented Larry. “The passenger, while they were high up, threw something and hit the pilot, the seaplane went out of control, the man jumped—and then cut free his parachute, cut the sack holding the emeralds, and hid in the swamp.” “I see a light,” Sandy said as the airplane swung far out over the dark water. “A green light, but the hydroplane wouldn’t carry lights.” "No, no; it's a good deal, but it ain't too much. Not that it could be more, very well," he added, and he glanced furtively at the woman within, who had stretched out on the lounge with her face to the wall. Mrs. Taylor was fanning her. But though the 21st of January was to be the day of the grand attack on the Ministry, the battle was not deferred till then. Every day was a field-day, and the sinking Minister was dogged step by step, his influence weakened by repeated divisions, and his strength worn out by the display of the inevitable approach of the catastrophe. The first decided defeat that he suffered was in the election of the Chairman of Committees. The Ministerial candidate, Giles Earle, was thrown out by a majority of two hundred and forty-two to two hundred and thirty-eight, and the Opposition candidate, Dr. Lee, was hailed by a shout that rent the House. Other close divisions followed. The fall of Walpole was now certain, and he would have consulted both his dignity and comfort in resigning at once. This was the earnest advice of his friends, but he had been too long accustomed to power to yield willingly. He was oppressed with a sense of his defeats, and the insolence of enemies whom he had so long calmly looked down upon without fear. He was growing old and wanted repose, but he still clung convulsively to his authority, though he had ceased to enjoy it. "Should think they was bride and groom, if they wasn't so old." "March them right over to that shed there," said the Major, "and the Quartermaster will issue them muskets and equipments, which you can turn over again when you reach Chattanooga. Good-by. I hope you'll have a pleasant trip. Remember me to the boys of the old brigade and tell them I'll be with them before they start out for Atlanta." The train finally halted on a side-track in the outskirts of Chattanooga, under the gigantic shadow of Lookout Mountain, and in the midst of an ocean of turmoiling activity that made the eyes ache to look upon it, and awed every one, even Si and Shorty, with a sense of incomprehensible immensity. As far as they could see, in every direction, were camps, forts, intrenchments, flags, hordes of men, trains of wagons, herds of cattle, innumerable horses, countless mules, mountains of boxes, barrels and bales. Immediately around them was a wilderness of trains, with noisy locomotives and shouting men. Regiments returning from veteran furlough, or entirely new ones, were disembarking with loud cheering, which was answered from the camps on the hillsides. On the river front steamboats were whistling and clanging their bells. "Go out and git you a rebel for yourself, if you want to know about 'em," Shorty had snapped at the Orderly. "There's plenty more up there on the hill. It's full of 'em." "Drat 'em! durn 'em!" "He's dead," said Realf. Should you leave me too, O my faithless ladie!" The odds were generally on Reuben. It was felt that a certain unscrupulousness was necessary to the job, and in that Backfield had the advantage. "Young Realf wudn't hurt a fly," his champions had to acknowledge. Though the money was with Reuben, the sympathy was mostly with Realf, for the former's dealings had scarcely made him popular. He was a hard man to his customers, he never let them owe him for grain or roots or fodder; his farm-hands, when drunk, spoke of him as a monster, and a not very tender-hearted peasantry worked itself sentimental over his treatment of his children. Caro was frightened, horrified—she broke free, and scrambled to her feet. She nearly wept, and it was clear even to his muddled brain that her invitation had been merely the result of innocence more profound than that which had stimulated her shyness. Rough seaman though he was, he was touched, and managed to soothe her, for she was too bashful and frightened to be really indignant. They walked a few yards further along the path, then at her request turned back towards Odiam. Calverley reluctantly departed on his mission, cursing the interruption that prevented his enjoying the degradation of his rival, and the baron now inquired whether Holgrave had confessed himself his villein. HoME国家产免费一级毛卡片
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