Archive | October, 2004

For more than a decade now the major corporate media and the U.S. government have been celebrating the growing “democratization” of Latin America. Rather than reflecting a genuine concern with democracy, however, this was meant to symbolize the defeat of various revolutionary movements, particularly in Central America in the 1980s and early ’90s. To the […]

If I belong anywhere today, it is with you. But to my great regret, I cannot be physically present. No doubt other speakers will deal with Paul as a major theoretician, a worldwide influential thinker and struggler for the sake of humanity. And there is much to say about Paul the human being. Not to […]

The following brief intellectual biography of Paul Sweezy was drafted in September 2003 shortly before I saw Paul for the last time. It conveys many of the basic facts of his life. But as with all biographies of leading intellectuals it fails to capture the brilliance of his work, which must be experienced directly through […]

Described by the Wall Street Journal as “the ‘dean’ of radical economics,” Paul Sweezy has more than any other single person kept Marxist economics alive in North America.* One work would be sufficient to have achieved this—The Theory of Capitalist Development (first published in 1942). During the period of the 1950s and 1960s, this was […]

The question “Why Stagnation?” has a rather special significance for me. I started my graduate work in economics exactly fifty years ago this year. The cyclical downturn which began in 1929 was nearing the bottom. Unemployment in that year, according to government figures, was 23.6 percent of the labor force, and it reached its high […]

Among Marxian economists “monopoly capitalism” is the term widely used to denote the stage of capitalism which dates from approximately the last quarter of the nineteenth century and reaches full maturity in the period after the Second World War. Marx’s Capital, like classical political economy from Adam Smith to John Stuart Mill, was based on […]

It is obvious that humankind has arrived at a crucial turning point in its long history. Nuclear war could terminate the whole human enterprise. But even if this catastrophic ending can be avoided, it is by no means certain that the essential conditions for the survival and development of civilized society as we know it […]