Industrial Feudalism and American Capitalism

Jan Toporowski

A chapter in Polish Marxism after Luxemburg, 2022, vol. 37, pp 43-59 from Emerald Group Publishing Limited

Abstract: Industrial feudalism is a socioeconomic formation that the Polish Marxists Ludwik Krzywicki and Oskar Lange associated with monopoly finance capital. Industrial feudalism arises in a socially static capitalism where mobility between hierarchically defined social strata is restricted. Krzywicki's account predates Hilferding'sFinance Capitaland outlines the functioning of the capital market-based finance capital that has become more common in capitalism. Seemingly unaware of Krzywicki's pioneering articles, Oskar Lange then presented his own account of monopoly finance capital in the United States with similar social consequences in the early 1940s with state support for monopolies. Krzywicki's work on monopoly finance capital was discovered in the 1950s by Tadeusz Kowalik.

Keywords: Industrial feudalism; monopoly; finance capital; Ludwik Krzywicki; Oskar Lange; banking (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rpeczz:s0161-723020220000037004

DOI: 10.1108/S0161-723020220000037004

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