ABSTRACT
The chief outlines of the rise of the giant corporation to a position of dominance in the American economy are familiar to all. The international thrust of American political and economic power is of the greatest significance for the rise of the American corporate state. They enable American economic and political power to be used in the world at large in the interests of those who manage the emerging American corporate state. The New Deal years, with their enlarged federal functions and increased federal budgets, initiated a long-term shift of power from local and state governments to Washington. Three great long-term trends have dominated the development of American economic institutions in the twentieth century: the continuing growth of giant corporations, the rise of the positive state, and a move toward American dominance in the world economy.
