This book looks at the role of the modern corporation in advanced
capitalist countries. In particular it considers corporate control
and shareownership and the impact of these on consumers' choice,
the mobilization of financial capital, the saving function, and the
question of the potentially inherent tendency towards stagnation
and crisis. The author suggests that there is a tendency towards
social ownership of the means of production in modern capitalist
economies, directly via share purchase and indirectly via, e.g.,
occupational pension funds, while at the same time control and
appropriation remain vested in a small minority. This is shown to
affect financial capital accumulation and the saving function,
since the competition between giant corporations encourages their
controllers to increase corporate saving above the level desired by
small shareholders who are suggested to be unable fully to
compensate for such increases by their actions.
General
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