Paul A. Baran and Paul M. Sweezy, Monopoly Capital. New York and. London: Monthly Review Press, Pp. ix + Harry Magdoff. New School for Social . 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. Monopoly Capital [Paul And Sweezy, Paul M. Baran] on *FREE* shipping on qualifying offers.
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The tendential fall of the rate of profit is just another expression for the accumulation of capital and the increasing productivity of labour. I got caught up in that. Private accumulation therefore requires the support of government spending geared primarily towards imperialistic and militaristic government tendencies, which is the easiest and surest way to utilize surplus productive capacity.
The continuous creation of new wants is a characteristic of the market economy and one reason for its expansion and extension. Sweszy Dynamics of Seezy. I viewed Monopoly Capital as a direct development of classical Marxian theory meant to account for twentieth-century conditions. Merely as exposition, rendering what are often quite difficult problems accessible to the layman, it is something of a tour de force.
Monopoly Capital – Wikipedia
In other words, the economy is still in a state of depression, countermanded by expenditures which by no stretch of the imagination can be called an accumulation of capital. They laid the basis for viewing the entire electoral system as democratic in form, plutocratic in content.
This book … deals with a vital area of economics, has a unique approach, is stimulating and well haran. All of this made it extremely influential with the New Left in the United States, particularly its more radical, socialist wing.
Monopoly Capital was commonly viewed as the fundamental critique of the system in the historical period we were living through. This procedure, however, is precisely the way by which part of the expense of moonpoly spending is spread over all anr society. It is, then, the state of the market which decides for any particular capital whether it should expand, contract or leave production at a given level.
Monopoly Capital: An Essay on the American Economic and Social Order
And this increase may be progressive. As soon as capital feels itself strong, however, the crutches are thrown away and capitalism moves in accordance with its own laws of motion.
Monopoly Capital cannot be seen in isolation, however. Here, despite the pioneering work of Hilferding and Lenin, the competitive model of Das Kapital continued to reign supreme.
In brief, the maintenance of the private-enterprise system sets definite limits to the expansion of government-induced production. The surplus-value embodied in commodities is surplus-labour time.
True, government purchases actually do increase production generally, for the non-marketable final products require intermediary productive activities, such as the production of raw materials, the consumption needs of increased employment, and the required additions and changes in the productive machinery. Kolko introduced eweezy to the crucial empirical basis of the theory in excess capacity statistics and I carried out a detailed study of the various measures in this area, which had the effect of convincing me of the concrete basis of the analysis.
In any case, it is only under conditions of rapid capital accumulation that demand expands sufficiently to enable the realisation cappital capitalisation of surplus-value. Is it valuable as a critique of contemporary U. The composition of the surplus shows how it uses that freedom: Depreciation charges fapital suffice to finance the technical innovations of, and the additions to, the productive apparatus, which, with a slow rate of expansion, is effective enough to provide an increasing national income and an even faster rise of profits.
Economic TheoryMarxismPolitical Economy. Discussions of it were everywhere.
It is precisely the compulsion to increase the capacity to produce which points to the reality of the tendential decline of the rate of profit. To think once more in extremes: What is the continuing relevance of Monopoly Capital? The value analysis of capitalism disregards competition, for in the social aggregate all prices equate with total value. The size of this sweezg determines the extent to which production has ceased being capital production, and the growth of production by way of taxation indicates the decline of the capitalist system as a profit-determined private enterprise system.
Why might their influence have declined if indeed it did during a period of stagnation that might have vindicated some of their predictions? Likewise, the financiers do not care whether loans are made to private entrepreneurs or to government, so long as they are secure and yield the desired rate of interest.
Monopoly Capital by Paul Mattick
And it may not only be so. In his work, monopoly appears only occasionally, as a remnant of a mercantilist past or as a shadow cast by a future he did not expect capitalism to live to see.
For Marx, price relations derive from value relations and the study of capitalism must therefore begin with value relations. What Baran and Sweezy might possibly mean by their assertion that Marx neglected monopoly — i. Their purpose and hope is to help people to see present-day capitalist society differently and more realistically, to highlight the central problems which need to be tackled and solved, and to indicate directions in which further study and thought are needed.