Term from the Marxist accusatory literature against the marked-based economy. It is meant to express that – a few big banks and insurance companies form a very influential, circled circle within society – and these are constantly trying to influence politics to their advantage as well as – trickily squeeze money out of poor people in order to – ultimately hold a monopoly of power in the state. This was to be remedied by nationalizing the financial sector and having all financial services provided by (party) functionaries. – The socialist prophets of doom did not believe that the state would enforce orderly competition through laws and its own departments, such as the supervisory authorities for cartels or the financial market, and that a vigilant public would uncover and denounce any concentration of economic power. – See banking power, bankocracy, finance capital, money aristocracy, money purpose, high finance, capital, misochrematie, conspiracy theories.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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