Corporate Capitalism and the Integral State: General Electric and a Century of American Power

This book argues that the state has actively mobilized business and organized lobbying groups to shape the political power of the capitalist class in the US. It traces the role of the General Electric Company as a pillar of the integral state from the finance capital period to the age of neoliberalism.

Format: Paperback / softback
Length: 380 pages
Publication date: 30 March 2023
Publisher: Springer Nature Switzerland AG

This book presents a groundbreaking perspective on the intricate relationship between state and corporate power in the United States. Through the lens of an Institutional Marxist framework, author Maher makes a compelling argument that the state has not merely reacted to the pressures of interest groups but has actively played a pivotal role in politically mobilizing business entities. Moreover, the state has actively engaged in the organization of lobbying groups, which are not merely vehicles for expressing the pre-existing interests of their corporate members but rather mechanisms through which the state orchestrates the political power of the capitalist class. This book is part of a broader narrative that the author refers to as an "integral state," a comprehensive network of state power that permeates and intersects the state bureaucracy, legislature, industrial policy apparatus, and corporate governance.

Drawing on extensive archival research, this book meticulously traces the role of the General Electric Company as a central pillar of the integral state in the United States across three distinct periods: the finance capital period (1880 to 1930), the managerial period (1930-1979), and the restructuring that paved the way for the age of neoliberalism (1979-present). By examining the historical trajectory of General Electric, the book sheds light on the ways in which the state has shaped the corporate landscape, influenced policy decisions, and maintained a dominant position in the economy.

One of the key insights of this book is that the state and corporate power are not mutually exclusive entities but rather are interdependent and mutually reinforcing. The state provides the legal framework, regulatory oversight, and social institutions that enable corporations to operate and thrive. In return, corporations provide the capital, technology, and labor that drive economic growth and innovation. This dynamic creates a complex web of power and influence that shapes the political and economic landscape of the United States.

Another important aspect of this book is its analysis of the role of lobbying groups in the state-corporate relationship. Lobbying groups are organizations that represent the interests of specific industries, corporations, or interest groups. They play a crucial role in shaping policy decisions and advocating for their clients' interests. However, the book argues that lobbying groups are not merely passive recipients of state power but are also agents of the state. Through their organizing efforts and political influence, lobbying groups help to shape the political agenda and maintain the dominance of the capitalist class.

The book also explores the ways in which the state has used corporate governance structures to maintain its control over the economy. Corporate governance refers to the system of rules, regulations, and practices that govern the behavior of corporations and their boards of directors. The book argues that the state has used corporate governance to reinforce its power and control over corporations, particularly during periods of economic crisis. For example, the state has implemented regulations and policies that promote shareholder value and limit the autonomy of corporate boards, which in turn helps to consolidate state power and control over the economy.

In conclusion, this book offers a comprehensive and insightful analysis of the relationship between state and corporate power in the United States. Through the use of an Institutional Marxist framework, the author provides a fresh perspective on the historical and contemporary dynamics of this complex relationship. The book sheds light on the ways in which the state has shaped the corporate landscape, influenced policy decisions, and maintained a dominant position in the economy. It also highlights the role of lobbying groups and corporate governance structures in the state-corporate relationship and the ways in which these mechanisms reinforce the power and control of the capitalist class. This book is a valuable resource for scholars, policymakers, and anyone interested in understanding the complex dynamics of state and corporate power in the United States.

Weight: 538g
Dimension: 210 x 148 (mm)
ISBN-13: 9783030837747
Edition number: 1st ed. 2022