Monopoly Capitalism

AbstractUsed mainly by Marxist political economists, the term monopoly capitalism is both a concept and a historical notion applicable to the period in capitalist history ranging from the end of the nineteenth century and reaching fruition in the years following World War II. Monopoly capitalism can be defined by a set of economic conditions in which a few large corporations dominate the market. Monopoly capitalism results from and is often paired against competitive capitalism. The concept of economic surplus highlights what is specific to monopoly capitalism and its conditions.