Monopolies and imperialism: How big corporations dominate our lives

Capitalism is often portrayed as the provider of ‘freedom’ and ‘choice’. But this is a complete myth. From the minute we wake up to the moment we go to sleep; from birth to death: our lives are dominated by monopolies – by gigantic corporations that control huge chunks of their respective industries. Today, capitalism means BIG: Big Oil; Big Pharma; Big Tech; Big Food; the big banks – and so on. And they keep getting bigger.

Over one hundred years ago, in his masterpiece Imperialism: The Highest Stage of Capitalism, Lenin explained how the interests of the major monopolies and financial institutions leads to competition for markets, resources, and spheres of influence – and, in turn, to war, conflict, and protectionism.

In this talk, Adam Booth, RCP Executive Committee member, discusses how the forces of monopoly capitalism and imperialism are shaping the world economy and society in modern times: from the chaos of the AI race; to the turbulence of the trade war; to the stagnation of science, innovation, and technology.