Global monopolies and the transnational capitalist class

Abstract

Globalization has led to world spanning corporations competing to become the dominant monopoly in their areas of economic interests. This competitive struggle is carried out by the transnational capitalist class rather than states backing national champions, and reflects the changing character of capitalism. The drive to create a seamless world system of finance and production is inherent to the structural needs of capitalism to seek out markets, resources and labor. This is a drawn out historical process in which individual nation states integrate into global patterns of production and accumulation according to their own conditions and pace. The project is filled with tension and competition, but the common goal is to create a unified system of global capitalism.

Keywords:

• monopoly competition
• transnational capitalist class
• transnational corporations