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

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

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 | more…

The Commitment of the Intellectual

What is an intellectual? The most obvious answer would seem to be: a person working with his intellect, relying for his livelihood (or if he need not worry about such things, for the gratification of his interests) on his brain rather than on his brawn. Yet simple and straightforward as it is, this definition would be generally considered to be quite inadequate. Fitting everyone who is not engaged in physical labor, it clearly does not jibe with the common understanding of the term “intellectual.”… in the public consciousness there exists a different notion encompassing a certain category of people who constitute a narrower stratum than those “working with their brains.” This is not merely a terminological quibble. The existence of these two different concepts rather reflects an actual social condition, the understanding of which can take us a long way towards a better appreciation of the place and the function of the intellectual in society. | more…

The Political Economy of Growth

The Political Economy of Growth

One of the most influential studies ever written in the field of development economics, this book has, since first publication in 1957, bred a whole school of followers who are producing further works along the lines indicated by Baran. Concerned with the generation and use of economic surplus, it analyzes from this point of view both the advanced and the underdeveloped countries. A work in political economy rather than solely in economics, this book treats the economic transformation of society as one facet of a total social and political evolution. | more…