The Syndicate "Prodamet", its Formation and Structure : A Monopoly in Iron and Steel Industry of Tsarist Russia

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Other Title
  • 《プロダメト》の形成とその構造 : ロシア鉄鋼業における独占資本
  • プロダメト ノ ケイセイ ト ソノ コウゾウ ロシア テッコウギョウ ニ オケル ドクセン シホン

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Abstract

The concentration of production and the monopolization occur unequally in each of industries under the different historical conditions of the economic development of the countries concerned. Even in Tsarist Russia, though under-developed in general, advanced the process of the concentration of production in iron and steel industry which was accelerated largely by foreign investmentsl up-to-date foreign equipments and protective state economic policies (extremely high level of the tariff and so on). As a result, there appeared a gigantic industrial syndicate called "prodameti', which controlled almost ah sphere of the iron market of pre-revolutionary Russia. The writer analyses the internal structure of this syndicate, completed in about 1909, the competition within the very monopoly and the mechanism of its market control. Dealing with the concentration in banks, and the influence of big banks in St. Petersburg upon the iron and steel companies participating in the syndicate, this article concludes that the coalescence of industry with banking was also achieved in Russian iron industry, and that, in spite of this, iron industry was not a main section in the whole system of Russian finance capital. The analysis of this early matured monopoly illustrates in one sense the essence of the formation of monopolies and, at the same time, clarifies the organizational and structural weakness which was characteristic of Russian finance capital.

Journal

  • The Journal of Agrarian History

    The Journal of Agrarian History 7 (2), 24-38, 1965

    The Agrarian History Society (Renamed as The Political Economy and Economic History Society)

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