Mikhail Bakunin Quotes
The small and medium-sized capitalists, not being able to produce at the same price as the big capitalists, naturally succumb in the deadly struggle.
Mikhail Bakunin, 1814-1876, Russian Anarchist, The Capitalist System
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The National City Company was formed expressly as an attempt to dominate and monopolize the United States economy. It was a holding company that included Standard Oil, National City Bank, 16 other banks, and the Union Pacific and Southern Pacific railroads among others, all controlled by the same 3 men--William Rockefeller, .James Stillman, and Frank Vanderlip.
Webster was taking regular bribes from large corporations and even complained when his payments were late. So he might have had a pro-large business bias. At the time taking bribes even if there was a quid pro quo was not illegal or even “unethical” by then Congressional rules.
Most businesses attempt to gain monopolistic positions and avoid price and other competition as much as possible. See {633636} .
Boeing had the foresight to invest in the concept of Air Mail by bidding low at the beginning, becoming the best in the nation, and then raising prices when no one else can compete—a technique called “buying in”. However, he was so successful that he soon had a monopoly on all the airmail in the country. Each new airmail contract would require more and more capability and Boeing used the existing contracts to finance the R&D and training of manpower to present a better and better service. Soon, no other company could compete at any price. Boeing indeed had a monopoly but each step of the building of it he did at the request of the government or was the low bidder and saved the taxpayer money. The airmail contracts were canceled and air service was nationalized. William Boeing was so disgusted by the way he was treated in the Congressional Hearings, that he sold his interest in the Boeing Company and would have nothing to do with making planes or providing services to the government thereafter.
Mikhail Alexandrovich Bakunin was a Russian revolutionary anarchist, socialist and founder of collectivist anarchism. He is considered among the most influential figures of anarchism and a major founder of the revolutionary socialist and social anarchist tradition. Bakunin's prestige as a revolutionary also made him one of the most famous ideologues in Europe, gaining substantial influence among radicals throughout Russia and Europe.
