
The Endless Crisis reviewed in Labour / Le Travail
The authors, eminent representatives of the Monthly Review or monopoly capital school, argue that giant corporations, not free or efficient markets, dominate the economy. We live in a perverse world where powerful firms extract high profits but this becomes an economic problem as core national economies suffer from weak final demand, industrial overcapacity, and lack of investment. Foster and McChesney also challenge nationalist perspectives, insisting the economy should be conceived as a global whole. | more…