Corporate Economic Power and the State: A Longitudinal Assessment of Two Explanations  

Oleh:

Jacobs, David

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: AJS: American Journal of Sociology vol. 93 no. 04 (Jan. 1988), page 852-881.
Topik: Resources; Politics; Toward Business; Exchange-Dependency; Explanatory Variables

Isi artikel

Much has been written about the relationship between the economic resources of corporations and their ability to control politics in advanced capitalist democracies. The resource that has received the most attention is economic concentration, but there is little agreement about the precise form of concentration that matters. In an attempt to find the most useful image of the state, this study looks at the connection between the aggregate concentration of assets among the leading manufacturing firms as well as the rate of business investment and taxes on business. Time-series regressions computed on U.S. national level data show that theories of the state that emphasize the independet activities of private investors are not supported. Instead, the aggrgate concentration of assets, as measured by the share of assets held by the leading 100 firms, has a strong negative influence on effective corporate tax rates. These results are consistent with the theory that heightened aggregate concentration helps corporations organize to attain their political demands.

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