discussed in biography
...Marx, was his original contribution to Marxist thought. Responding to critics of Marx who held that the concentration of capital had not occurred in the way Marx expected, Hilferding’s Finance Capital (1910) pointed to the role of banking and finance, arguing that the banks’ increasing influence over industry led to monopoly and cartels and through them to economic...
Marxist theory development
TITLE: Marxism: The Austrians
SECTION: The Austrians
...finance minister of the German Republic after World War I in the Cabinets of the Social Democrats Gustav Stresemann (1923) and Hermann Müller (1928). He is known especially for his work Das Finanzkapital (1910), in which he maintained that capitalism had come under the control of banks and industrial monopolies. The growth of national competition and tariff barriers, he...