ABSTRACT
The Frankfurt Institute for Social Research, the home of what later came to be known as the ‘Frankfurt School’, was founded in 1923 and officially opened in June of 1924. The conception of the theory-praxis nexus was, under Max Horkheimer, raised to a far higher, more differentiated level; yet the Frankfurt School’s actual productions fell far behind their own conception. The Frankfurt School entertain no illusions on this score; they refer constantly to ‘post-competitive capitalism’, and ‘the tendency of present economy to eliminate the market and the dynamics of competition’. Agreement was reached among all parties concerned, and Grunberg became the Institute’s first Director, also assuming a Chair in Economics and Social Science at Frankfurt University, in late 1923. Friedrich Pollock explains the genesis of monopoly in terms of the production process: economic concentration and the rising organic composition of capital made uninterrupted production a need of capitalism itself.
