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 .

Author: Shakalabar Nelkis
Country: Reunion
Language: English (Spanish)
Genre: Health and Food
Published (Last): 9 November 2007
Pages: 193
PDF File Size: 18.55 Mb
ePub File Size: 13.76 Mb
ISBN: 476-2-55242-892-6
Downloads: 8445
Price: Free* [*Free Regsitration Required]
Uploader: Dakree

I left Monopoly Capital behind and wrote a long class paper defending the falling rate of monopolyy theory. Is it valuable as a critique of contemporary U. 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. What Baran and Sweezy might possibly mean by their assertion that Marx neglected monopoly — i.

Any claim the Soviet Union had to moral leadership of the world socialist movement is now extinguished. Stagnation and the Financial Crisis. If this concept is at all valid, it is so regardless of whether the actual capital structure is competitive, monopolistic or both.

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

A lack of effective demand relative to the production potential leads to unused resources. Baran and Paul M. Because periods of stagnation are crisis conditions, one could say that the temporary crisis has become permanent. McChesney and I drove home the fact that the underlying problem is one of stagnation, in our book, The Endless Crisispublished several years later. In the one case the problem is approached from the market angle and in the other from that of production, but in both there is restriction of production.

The whole issue of the Old Left and the New Left is a complicated one.

Monopoly Capital – Wikipedia

For Baran and Sweezy, however, capitalist problems are exclusively market problems. Financed in this manner, government-induced production does not increase the quantity of marketable commodities and can thus not be turned into exchange-value and, consequently, not into surplus-value.


When these limits are reached they will cease countermanding the capitalist crisis. Depreciation charges largely 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. But as soon as it begins to feel itself as a barrier to further development and is recognised as such, it adapts forms of behaviour through the harnessing of competition which seemingly indicate its absolute rule but actually point to its decay and dissolution.

Views Read Edit View history. Even the division of surplus-value into profit, interest and rent disappears in his value analysis. As regards monopoly monopolj secured by price manipulations, ca;ital should be clear that they can be gained only through corresponding profit-losses on the part of the non-monopolistic capital — No matter what the structure of capitalism, there is, at any given time, a definite amount of national and international income derived from surplus-value.

Value and surplus-value production would no longer be possible. Instead, there are unused human and material resources.

Still, there was no doubt about its importance to liberation struggles at baaran time or that it was a key to understanding contemporary capitalism.

I got caught up in that.

Monopoly Capital by Paul Mattick

Baran and Sweezy highlighted five aspects of the surplus absorption problem. What is the continuing relevance of Monopoly Capital? If you read the magazine online and can afford a print subscription, we hope you will consider purchasing one. All of this made it extremely influential with the New Left in the United States, swezy its more radical, socialist wing.

According to Marx, moreover, the profitability of any particular capital depends on the profitability of the capitalist system as a whole. From Wikipedia, the free encyclopedia. However, such marketing expenditures advertising, sales promotion, excessive model changes, etc. Because the displaced working population would still be there, it would have to be supported out of the automated production; capital would feed labour instead of labour feeding capital.

The coup in Chile occurred with U. Where and when this is no longer possible, investments will be unprofitable and consequently will not be made.


Moreover, orthodox economists now recognize that the stagnation dates back to the s—precisely what Monopoly Capital pointed to and what MR has been insisting for more than forty years. They do so all along; but under conditions of economic contraction, weaker capitals succumb more quickly to stronger ones, and the changes in the sphere of production are accompanied by changes in the market sphere.

A brilliant description of the economic forces at work in the main centers of economic power—the giant corporations … Monopoly Capital may be regarded as an analysis of the sources of contemporary political formations … and the corporate ideology … Monopoly Capital will be a munificent source of insights and ideas for many years to come. 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.

The only indication as to whether it is rising or falling is given by market events. The increasing disuse of productive resources resulting from a lack of profitability can only increase the dearth of profits relative to the capitalist accumulation needs. It was drowned in blood by the Soviet army…. The value analysis of capitalism disregards competition, for in the social aggregate all prices equate with total value.

They can do so only, however, by accepting the current illusion that income-transfers and expenses can be counted as income so long as they are government transfers and expenses.

Heilbroner, New York Review of Books A brilliant description of the economic forces at work in the main centers of economic power—the giant corporations … Monopoly Capital may be regarded as an analysis of the sources of contemporary political formations … and the corporate ideology … Monopoly Capital will be a munificent source of insights and ideas for many years to come.

Related Posts