This paper argues that institutions and policies deeply embedded in neoliberal structures have created conditions that make it difficult for large nonfinancial corporations to operate effectively. Important globally-contested industries are understood to be "natural oligopolies" that require...

Neoliberal policies altered the competitive environment within which nonfinancial corporations operate by slowing global aggregate demand growth and removing national barriers to trade and direct investment. These changes spawned destructive competition, leading to low profits, high leverage and...