Quote by Grace Blakeley

“The fusion of economics and politics is a critical part of this model and is something early liberal theorists missed. States consistently seek to protect 'their' capitalists all over the world. Whether in the form of taxation, trade policy, or foreign policy, capitalists always rely on politicians to provide them with opportunities for profit-making abroad. Lenin, who in 1917 wrote that imperialism was the 'highest stage' of capitalism, realized that this fusion of state and corporate power would make it even harder for poor states to catch up with rich ones. While this fusion of corporate and political power is largely hidden within modern capitalist economies, historically it was understood to be a central component of imperial power. We have already seen how early capitalist states sought to govern the world economy through corporate sovereigns like the East India Company. The Nazi Party also encouraged the creation of 'trusts, combines and cartels' on the basis that doing so would support the German state's imperial power at home and abroad. Unions, and any other threats to corporate power, were destroyed, and a law was passed to 'force industries to form cartels where none existed.' Unchecked corporate power -fused with that of the state- was a key component of Nazism.”

Quote by Grace Blakeley