DOES MONOPOLY END COMPETITION?
No. It reduces competition in the area covered by the monopoly, while accentuating it in other fields — e.g., between monopoly capitalists and non-monopoly capitalists and between rival groups of monopolists in the same or different countries. 11. WHAT IS FINANCE CAPITAL? As capitalism develops, concentration and centralisation, of capital proceed in banking as in industry, and a merging of bank and industrial capital takes place, so that a small group of monopoly capitalists — a financial oligarchy — comes to control the large banks and financial institutions as well as the large industrial firms. This merged bank and industrial capital is called finance capital. 12. WE HAVE SEEN THAT THE CAPITALIST CLASSES OF ALL COUNTRIES ARE FACED WITH A MARKET PROBLEM. HOW DO THEY ENDEAVOUR TO SOLVE THIS PROBLEM? ‘In theory’ they could raise the workers’ wages to equal the value of the commodities they produce, but since this would reduce their profits to nil, capitalists reject this solution.
