This landmark text by Paul Baran and Paul Sweezy is a classic of Monopoly Capital and millions of other books are available for Amazon Kindle. Learn more. The authors of Monopoly Capital,[1] Paul A. Baran and Paul M. Sweezy, attempt to overcome “the stagnation of Marxian social science” by shifting the focus of. Paul A. Baran and Paul M. Sweezy, Monopoly Capital. New York and. London: Monthly Review Press, Pp. ix + Harry Magdoff. New School for Social .

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There would be no point in increasing production if the rate of accumulation were to diminish.

Monthly Review | Monopoly Capital: An Essay on the American Economic and Social Order

If you read the magazine online and can afford a print subscription, we hope you will consider purchasing one. They laid the basis for viewing the entire electoral system as democratic in form, plutocratic in content.

It was drowned in blood by the Soviet army…. Economic TheoryMarxismPolitical Economy.

What gave rise to the New Left was the Soviet invasion of Hungary. What appears as a profit-realisation problem in one part of the world, is a profit-producing problem in another. McChesney and I drove home the fact that the underlying problem is one of stagnation, in our book, The Endless Crisispublished several years later. Baran and Paul M. The complaint about the lack of demand is then, actually, a complaint about insufficient profitability.


With the resultant growth of idle resources, capital accumulation, that is, the capitalist mode of production, would come to an end. Did you think of it as a paradigm-shifting text, or did you read it as part of a larger movement toward a neo-Marxian critique of the New Deal Order?

Considering society as a whole, however, it is only the private sector which brings forth surplus-value and profit. This book … deals with a vital area of economics, has a unique approach, is stimulating and well written.

Monopoly Capital

Marx lived in a highly competitive capitalism, to be sure, and he knew that prices, not values, determine market events — even though market events are themselves circumscribed by the capitsl relations as value relations. To increase their shares of a given market, or to maintain their profitability in a shrinking market, the different capitals will try to cheapen their production in order to maintain or increase their competitive ability.

AmericasGlobalUnited States. To speak in extremes: And so it seems; but it does not show up in the rate of capital expansion, only in the size of the Gross National Product, of which a growing part is no longer profitable.

Many of the finer points of their analysis of course passed me by at first. It was thus the original common ground within URPE. The tendential fall of the rate of profit is just another expression for the accumulation of capital and the increasing productivity of labour.

This, then, was mainly a reply to fundamentalist arguments. The Dynamics of U.


Capitaal to what Baran and Sweezy say, the Marxian analysis does not rest on the assumption of competitive capitalism but on the abstract concept of total capital. The Deepening Crisis of U. Today, forty years later, their analysis there seems more powerful than ever.

According to Marx, however, accumulation is characterised by: Even then, they were forced to leave out any direct consideration of the labor process and exploitation. Baran was Professor of Economics at Stanford University.

Is it valuable as a critique of contemporary U. This is in every way a stimulating and refreshing books, written lucidly and easily, without jargon or dogma, and representing a welcome attempt swfezy look at the monopoly capitalism of today with fresh eyes.

Monopoly Capital: An Essay on the American Economic and Social Order

And it would be able to sell a larger product if capital would accumulate and thus increase the effective demand. It is by counting an expense as an income that the illusion arises that a growing national debt is neutralised by a rising national income. Dear Reader, we make this and other articles available for free online to serve those unable to afford or access the print edition of Monthly Review.