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Restructuring Finance Capital: Changes in the Canadian Corporate Network 1976-1986

Scott Lewis

On the basis of a network analysis of interlocks among the largest Canadian corporations, this paper examines the restructuring of finance capital between 1976 and 1986, a time of great flux in the structure of capital, both internationally and in Canada. Results indicate a shift away from the relatively depersonalized system of `polyarchic financial hegemony' - prevalent during the post-war boom era - towards a `holding system' of family-controlled enterprise groups, the largest of which are self-contained financial-industrial complexes whose members are linked by complicated patterns of intercorporate ownership and capital allocation. The increasingly internationalized - and particularly continental - character of Canadian-based finance capital points to the consolidation of a circuit of transnational finance capital that expresses Canada's specific location in the global economy.

Sociology, Vol. 25, No. 3, 491-510 (1991)
DOI: 10.1177/0038038591025003010


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