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The Theory of Monopoly Capitalism by John Bellamy Foster Pdf
Absent any "epoch making innovations" like the automobile or vast new increases in military spending, the result was a general trend toward economic stagnation--a condition that persists, and is increasingly apparent, to this day. Their analysis was also extended to issues of imperialism, or "accumulation on a world scale," overlapping with the path-breaking work of Samir Amin in particular. John Bellamy Foster is a leading exponent of this theoretical perspective today, continuing in the tradition of Baran and Sweezy's Monopoly Capital. This new edition of his essential work, The Theory of Monopoly Capitalism, is a clear and accessible explication of this outlook, brought up to the present, and incorporating an analysis of recently discovered "lost" chapters from Monopoly Capital and correspondence between Baran and Sweezy.
The Theory of Monopoly Capitalism by John Bellamy Foster Pdf
In 1966, Paul Baran and Paul Sweezy published Monopoly Capital, a monumental work of economic theory and social criticism that sought to reveal the basic nature of the capitalism of their time. Their theory, and its continuing elaboration by Sweezy, Harry Magdoff, and others in Monthly Review magazine, infl uenced generations of radical and heterodox economists. They recognized that Marx’s work was unfi nished and itself historically conditioned, and that any attempt to understand capitalism as an evolving phenomenon needed to take changing conditions into account. Having observed the rise of giant monopolistic (or oligopolistic) fi rms in the twentieth century, they put monopoly capital at the center of their analysis, arguing that the rising surplus such fi rms accumulated—as a result of their pricing power, massive sales efforts, and other factors—could not be profi tably invested back into the economy. Absent any “epoch making innovations” like the automobile or vast new increases in military spending, the result was a general trend toward economic stagnation—a condition that persists, and is increasingly apparent, to this day. Their analysis was also extended to issues of imperialism, or “accumulation on a world scale,” overlapping with the path-breaking work of Samir Amin in particular. John Bellamy Foster is a leading exponent of this theoretical perspective today, continuing in the tradition of Baran and Sweezy’s Monopoly Capital. This new edition of his essential work, The Theory of Monopoly Capitalism, is a clear and accessible explication of this outlook, brought up to the present, and incorporating an analysis of recently discovered “lost” chapters from Monopoly Capital and correspondence between Baran and Sweezy. It also discusses Magdoff and Sweezy’s analysis of the fi nancialization of the economy in the 1970s, ‘80s, and ‘90s, leading up to the Great Financial Crisis of the opening decade of this century. Foster presents and develops the main arguments of monopoly capital theory, examining its key exponents, and addressing its critics in a way that is thoughtful but rigorous, suspicious of dogma but adamant that the deep-seated problems of today’s monopoly-fi nance capitalism can only truly be solved in the process of overcoming the system itself.
The Theory of Monopoly Capitalism by John Bellamy Foster Pdf
Absent any "epoch making innovations" like the automobile or vast new increases in military spending, the result was a general trend toward economic stagnation--a condition that persists, and is increasingly apparent, to this day. Their analysis was also extended to issues of imperialism, or "accumulation on a world scale," overlapping with the path-breaking work of Samir Amin in particular. John Bellamy Foster is a leading exponent of this theoretical perspective today, continuing in the tradition of Baran and Sweezy's Monopoly Capital. This new edition of his essential work, The Theory of Monopoly Capitalism, is a clear and accessible explication of this outlook, brought up to the present, and incorporating an analysis of recently discovered "lost" chapters from Monopoly Capital and correspondence between Baran and Sweezy.
The Theory of Monopoly Capitalism by John Bellamy Foster Pdf
"In 1966, Paul Baran and Paul Sweezy published Monopoly Capital, a monumental work of economic theory and social criticism that sought to reveal the basic nature of the capitalism of their time. Their theory, and its continuing elaboration by Sweezy, Harry Magdoff, and others in Monthly Review magazine, infl uenced generations of radical and heterodox economists. They recognized that Marx's work was unfi nished and itself historically conditioned, and that any attempt to understand capitalism as an evolving phenomenon needed to take changing conditions into account. Having observed the rise of giant monopolistic (or oligopolistic) fi rms in the twentieth century, they put monopoly capital at the center of their analysis, arguing that the rising surplus such fi rms accumulated--as a result of their pricing power, massive sales efforts, and other factors--could not be profi tably invested back into the economy. Absent any "epoch making innovations" like the automobile or vast new increases in military spending, the result was a general trend toward economic stagnation--a condition that persists, and is increasingly apparent, to this day. Their analysis was also extended to issues of imperialism, or "accumulation on a world scale," overlapping with the path-breaking work of Samir Amin in particular. John Bellamy Foster is a leading exponent of this theoretical perspective today, continuing in the tradition of Baran and Sweezy's Monopoly Capital. This new edition of his essential work, The Theory of Monopoly Capitalism, is a clear and accessible explication of this outlook, brought up to the present, and incorporating an analysis of recently discovered "lost" chapters from Monopoly Capital and correspondence between Baran and Sweezy. It also discusses Magdoff and Sweezy's analysis of the fi nancialization of the economy in the 1970s, '80s, and '90s, leading up to the Great Financial Crisis of the opening decade of this century. Foster presents and develops the main arguments of monopoly capital theory, examining its key exponents, and addressing its critics in a way that is thoughtful but rigorous, suspicious of dogma but adamant that the deep-seated problems of today's monopoly-fi nance capitalism can only truly be solved in the process of overcoming the system itself. "--
Author : Paul A. Baran Publisher : NYU Press Page : 417 pages File Size : 41,5 Mb Release : 1966-01-01 Category : Political Science ISBN : 9781583674000
This landmark text by Paul Baran and Paul Sweezy is a classic of twentieth-century radical thought, a hugely influential book that continues to shape our understanding of modern capitalism. “This book… deals with a vital area of economics, has a unique approach, is stimulating and well written. It represents the first serious attempt to extend Marx’s model of competitive capitalism to the new conditions of monopoly capitalism.” — Howard J. Sherman, American Economic Review
Author : Paul M. Sweezy,Paul A. Baran Publisher : NYU Press Page : 544 pages File Size : 40,7 Mb Release : 2017-07-24 Category : Literary Collections ISBN : 9781583676530
The Age of Monopoly Capital by Paul M. Sweezy,Paul A. Baran Pdf
The rich correspondence that preceded the publication of Monopoly Capital Paul A. Baran and Paul M. Sweezy were two of the leading Marxist economists of the twentieth century. Their seminal work, Monopoly Capital: An Essay on the American Economic and Social Order, published in 1966, two years after Baran's death, was in many respects the culmination of fifteen years of correspondence between the two, from 1949 to 1964. During those years, Baran, a professor of economics at Stanford, and Sweezy, a former professor of economics at Harvard, then co-editing Monthly Review in New York City, were separated by three thousand miles. Their intellectual collaboration required that they write letters to one another frequently and, in the years closer to 1964, almost daily. Their surviving correspondence consists of some one thousand letters. The letters selected for this volume illuminate not only the development of the political economy that was to form the basis of Monopoly Capital, but also the historical context—the McCarthy Era, the Cold War, the Cuban Missile Crisis—in which these thinkers were forced to struggle. Not since Marx and Engels carried on their epistolary correspondence has there has been a collection of letters offering such a detailed look at the making of a prescient critique of political economy—and at the historical conditions from which that critique was formed.
The Myth of Capitalism tells the story of how America has gone from an open, competitive marketplace to an economy where a few very powerful companies dominate key industries that affect our daily lives. Digital monopolies like Google, Facebook and Amazon act as gatekeepers to the digital world. Amazon is capturing almost all online shopping dollars. We have the illusion of choice, but for most critical decisions, we have only one or two companies, when it comes to high speed Internet, health insurance, medical care, mortgage title insurance, social networks, Internet searches, or even consumer goods like toothpaste. Every day, the average American transfers a little of their pay check to monopolists and oligopolists. The solution is vigorous anti-trust enforcement to return America to a period where competition created higher economic growth, more jobs, higher wages and a level playing field for all. The Myth of Capitalism is the story of industrial concentration, but it matters to everyone, because the stakes could not be higher. It tackles the big questions of: why is the US becoming a more unequal society, why is economic growth anemic despite trillions of dollars of federal debt and money printing, why the number of start-ups has declined, and why are workers losing out.
Global Capitalism by Robert J. S. Ross,Kent C. Trachte Pdf
How have global markets and global manufacturing changed the balance of social, economic and political power? With this volume Ross and Trachte challenge existing political-economic theory. In concise terms they show how traditional theories of monopoly capitalism and world systems are not well-suited to analyze the emergence of global capitalism. This book, in a series of case studies of U.S. metropolitan areas, examines the dramatic transformation of the world economy in the last two decades. The books last section examines political strategy and the political theory implied by the heightened power of capital.
Modern Imperialism, Monopoly Finance Capital, and Marx's Law of Value by Samir Amin Pdf
Unlike such obvious forms of oppression as feudalism or slavery, capitalism has been able to survive through its genius for disguising corporate profit imperatives as opportunities for individual human equality and advancement. But it was the genius of Karl Marx, in his masterwork, Capital, to discover the converse law of surplus value: behind the illusion of the democratic, supply-and-demand marketplace, lies the workplace, where people trying to earn a living are required to work way beyond the time it takes to pay their wages. Leave it to the genius of Samir Amin to advance Marx's theories—adding to them the work of radical economists such as Michal Kalecki, Josef Steindl, Paul Baran, and Paul Sweezy—to show how Marxian theory can be adapted to modern economic conditions. Amin extends Marx's analysis to describe a concept of “imperialist rent” derived from the radically unequal wages paid for the same labor done by people in both the Global North and the Global South, the rich nations and the poor ones. This is global oligopolistic capitalism, in which finance capital has come to dominate worldwide production and distribution. Amin also advances Baran and Sweezy’s notion of economic surplus to explain a globally monopolized system in which Marx's “law of value” takes the form of a “law of globalized value,” generating a super-exploitation of workers in the Global South. Modern Imperialism, Monopoly Finance Capital, and Marx's Law of Value offers readers, in one volume, the complete collection of Samir Amin’s work on Marxian value theory. The book includes texts from two of Amin's recent works, Three Essays on Marx’s Value Theory and The Law of Worldwide Value, which have provoked considerable controversy and correspondence. Here, Amin answers his critics with a series of letters, clarifying and developing his ideas. This work will occupy an important place among the theoretical resources for anyone involved in the study of contemporary Marxian economic and political theory.
In his pioneering work Finance Capital, originally published in 1910, Rudolf Hilferding developed and examined the concept and economic policy of finance capital, developing Marx's analysis of the processes of concentration and centralization of capital and the roles of competition and credit within these processes. This book provides a critical examination of the theory of finance capital by focusing on the concepts of competition, credit, and economic crises. Jonas Zoninsein concentrates on the theory of monopoly capital, which has its roots in Hilferding's work, presenting a critique of this economic principle that plays an outstanding role in current explanations of how the capitalist mode of production operates in the twentieth century. Although finance capital and monopoly capital are the underlying concepts that explain capitalism today, Hilferding's sources in detailing his theory were basically the characteristics of Germany's late industrialization. His analytical effort was chiefly oriented toward formulating general theoretical principles about the working of capitalism. In this critical study, Zoninsein analyzes Hilferding's central elements--competition, credit, capital accumulation, and crises--and seeks to refine and reinterpret the concepts and procedures in light of the current changes in economic thought and social life. Particular attention is paid to the sharp contrasts that are exhibited between Hilferding's work and the economic theories of Marx. The volume also includes a selected bibliography of relevant works. For courses in political economy, Marxist theory, and monopoly capitalism, this study will be a excellent resource, and both public and academic libraries will find it to be a valuable addition to their collections.
"A manifesto for our times." —Thomas Frank, Wall Street Journal Barry C. Lynn, one of the most original and surprising students of the American economy, paints a genuinely alarming picture: most of our public debates about globalization, competitiveness, creative destruction, and risky finance are nothing more than a cover for the widespread consolidation of power in nearly every imaginable sector of the American economy. Cornered strips the camouflage from the secret world of twenty-first-century monopolies-neofeudalist empires whose sheer size, vast resources, and immense political power enable the people who control to direct virtually every major industry in America in an increasingly authoritarian manner. Lynn reveals how these massive juggernauts, which would have been illegal just thirty years ago, came into being, how they have destroyed or devoured their competition, and how they collude with one another to maintain their power and create the illusion of open, competitive markets. A confluence of small government zealotry and misguided efficient market theories has lead to a complete dismantling of government oversight of industry. Has that brought us the promised economic utopia? Just the opposite. For decades, the dominant elite has used the federal government to all but encourage companies to buy one another up, outsource all their production, and make their profits by leveraging their complete power over the market itself. Lynn makes clear it will take more than a lawsuit or two to overthrow America's corporatist oligarchy and restore a model of capitalism that protects our rights as property holders and citizens, and the independence of our Republic. Details how regular citizens can join together to beat the great powers, and how to do so by relearning the real history and language of our democratic republic. Includes stories of real people and real industries that show how monopolies threaten independent businesses, squelch innovation, degrade the quality and safety of products, destabilize vital industrial and financial systems, and destroy the fabric of democracy Explores monopoly power across a wide array of industries, including appliances, auto parts, beer, eyeglasses, medical supplies, pet food, surfboards, vitamins, and more. Demonstrates how the drive for "always lower prices" makes your job disappear, puts your small business out of business, and turns dreams of entrepreneurial success into impossible fantasies Lynn is that rarest of creatures, a journalist whose theoretical writings are taken very seriously by the top policymakers and economic thinkers in Washington and around the world. His work has been compared already to John Kenneth Galbraith and Peter Drucker. The Washington Post called Lynn's last book-on globalization-"Tom Friedman for grownups." Cornered is essential reading for anyone who cares about America and its future.
Author : Michael Burawoy Publisher : University of Chicago Press Page : 286 pages File Size : 45,8 Mb Release : 2012-10-15 Category : Business & Economics ISBN : 9780226217710
Since the 1930s, industrial sociologists have tried to answer the question, Why do workers not work harder? Michael Burawoy spent ten months as a machine operator in a Chicago factory trying to answer different but equally important questions: Why do workers work as hard as they do? Why do workers routinely consent to their own exploitation? Manufacturing Consent, the result of Burawoy's research, combines rich ethnographical description with an original Marxist theory of the capitalist labor process. Manufacturing Consent is unique among studies of this kind because Burawoy has been able to analyze his own experiences in relation to those of Donald Roy, who studied the same factory thirty years earlier. Burawoy traces the technical, political, and ideological changes in factory life to the transformations of the market relations of the plant (it is now part of a multinational corporation) and to broader movements, since World War II, in industrial relations.
Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by imperfect competition. But this only ties them to the notion of perfect competition, which remains as their point of departure and base of comparison. There is no imperfection without perfection. In Capitalism, Anwar Shaikh takes a different approach. He demonstrates that most of the central propositions of economic analysis can be derived without any reference to standard devices such as hyperrationality, optimization, perfect competition, perfect information, representative agents, or so-called rational expectations. This perspective allows him to look afresh at virtually all the elements of economic analysis: the laws of demand and supply, the determination of wage and profit rates, technological change, relative prices, interest rates, bond and equity prices, exchange rates, terms and balance of trade, growth, unemployment, inflation, and long booms culminating in recurrent general crises. In every case, Shaikh's innovative theory is applied to modern empirical patterns and contrasted with neoclassical, Keynesian, and Post-Keynesian approaches to the same issues. Shaikh's object of analysis is the economics of capitalism, and he explores the subject in this expansive light. This is how the classical economists, as well as Keynes and Kalecki, approached the issue. Anyone interested in capitalism and economics in general can gain a wealth of knowledge from this ground-breaking text.
Theory of Capital Development by Paul M. Sweezy Pdf
Since its first publication in 1942, this book has become the classic analytical study of Marxist economics. Written by an economist who was a master of modern academic theory as well as Marxist literature, it has been recognized as the ideal textbook in its subject. Comprehensive, lucid, authoritative, it has not been challenged or even approached by any later study.
