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Distributed for University of British Columbia Press

Corporate Power and Canadian Capitalism

Challenging standard dependency theory, William Carroll argues from empirical evidence that Canada's financial-industrial elite have maintained and consolidated their competitive position at the centre of an inter-corporate network. Corporate Power and Canadian Capitalism thus acknowledges the unusually high degree to which capital is concentrated in a relatively few giant corporations in Canada, but it denies that these commercial interests are subordinated to American corporate capital.

To test the validity of this new perspective on the transformation of indigenous capitalists into a national bourgeoisie, Carroll traces the accumulation of capital in the largest Canadian corporations and the institutional relations that have existed among the same firms since World War II. Instead of selling out to foreign capital, Canadian firms have in fact become increasingly interlocked, and Canadian-controlled firms have been and continue to be the focus of both the industrial and financial sectors, with foreign-controlled companies occupying decidedly peripheral positions.

From this interpretative position, Canada's development is seen as markedly similar to that of other advanced capitalist countries, culminating in consolidation of control under an elite accompanied both by penetration of foreign economies by domestic financial capitalists and a concomitant penetration of the domestic economy by foreign capital.


302 pages


Table of Contents

List of Figures

List of Tables

Acknowledgments

Preface

1. The Thesis of Canadian Dependency

2. Rethinking Canadian Dependency

3. Monopoly Capitalism and Canadian Finance Capital

4. The Accumulation of Monopoly Capital, 1946-1976

5. Patterns of Corporate Interlocking, 1946-1976

6. Continuity and Change in the Interlock Network, 1946-1976

7. The Consolidation of Canadian Finance Capital, 1946-1985

8. Conclusion: Canadian Capital in the Era of Imperialism

Appendix 1. Sampling, Measurement, and Data Management Procedures

Appendix 2. Sources of Data on Domestic and Foreign Ownership and Control

Appendix 3. Corporations in the "Top 100," 1946-1976

Notes

Bibliography

Index

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