Chapter 6

CAPITALISM AND THE LAW OF CONCENTRATION

A new form of class division arises in the first stage of capitalism--The second stage of capitalism begins with the great mechanical inventions--The development of foreign and colonial trade--Theoretic individualism and practical collectivism--The law of capitalist concentration formulated by Marx--Competition, monopoly, socialization--Trustification, interindustrial and international--Criticisms of the Marxian theory--Engels on the attempts to make a "rigid orthodoxy" of the Marx theory--The small producers and traders--Concentration in production--Failure of the bonanza farms and persistence of the small farms--Other forms of agricultural concentration--Farm ownership and farm mortgages--The factory and the farm--The concentration of wealth--European and American statistics--Concentration of the control of wealth independent of actual ownership--Growth of immense fortunes--General summary 113