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Political Economy

Stagnation and the Financial Explosion (Economic History As It Happened, Vol. IV)

Stagnation and the Financial Explosion (Economic History As It Happened, Vol. IV)

This is the fourth in the magisterial series of essays by the former editors of Monthly Review on the state of the U.S. economy and its relation to the global system. Like its predecessors, this volume focuses on the development of U.S. capitalism as it takes place, and covers the 1980s. The authors stress the profound contradictions of the underlying processes of capital accumulation and identify, before any other economic commentators, the immense implications of the use of the explosion of debt to attempt to solve the problems presented by the underlying stagnation in the real economy. | more…

Immigrant Women in the Land of Dollars: Life and Culture on the Lower East Side, 1890–1925

Immigrant Women in the Land of Dollars: Life and Culture on the Lower East Side, 1890–1925

At the turn of the century, millions of European women set sail with their families for the United States. Behind them stood a world of peasant agriculture and small town life. Ahead lay the concrete metropolis, swept by the winds of industrial development. Immigrant Women in the Land of Dollars tells the story of the Jewish and Italian women who came to inhabit New York’s Lower East Side during this period of massive migration. By looking at two generations — mothers born in the Old World, and daughters born in the new — and making extensive use of oral histories, Elizabeth Ewen presents the compelling tale of a metamorphosis in life and in perception. | more…

The Faltering Economy

The Faltering Economy

The essays in this volume, by veteran economists as well as younger scholars, are part of a radical attempt to grapple with the problems of advanced capitalist development without discarding the real theoretical breakthroughs made by Keynes. The contributors argue that Keynes was correct in pointing to the economic contradictions stemming from unemployment, incoming inequality, and speculative finance, but failed to consider the class composition of social output, the macroeconomic effects of the modern firm, and the atrophy of investment under conditions of capitalist maturity. | more…

Memoirs of Bernardo Vega: A Contribution to the History of the Puerto Rican Community in New York

Memoirs of Bernardo Vega: A Contribution to the History of the Puerto Rican Community in New York

When Bernardo Vega arrived in New York from Puerto Rico in 1916, he was at the forefront of a migrant stream that was soon to become a flood. His memoirs—perceptive, lively, and politically aware—provide us with a unique and often humorous firsthand account of the life of an immigrant, as well as of the concerns and activities of the Puerto Rican community in New York in the period between the wars. | more…

Value and Crisis: Essays on Marxian Economics in Japan

Value and Crisis: Essays on Marxian Economics in Japan

Value and Crisis opens with a long and highly informative essay on the development of Marxian economics in Japan, and contains a number of the author’s important and original contributions to this stream of thought. Itoh discusses the major points of view on Marx’s theory of value, on theories of crisis, and on problems of Marx’s theory of market value. | more…

Bureaucracy and the Labor Process: The Transformation of U.S. Industry, 1860–1920

Bureaucracy and the Labor Process: The Transformation of U.S. Industry, 1860–1920

This book makes the argument, supported by rich and extensive historical research into original sources, that it is possible to revolutionize work so that it can be, in the author’s words, “satisfying, creative, and stimulating at the same time that it is materially productive: we can have material abundance along with interesting work.” | more…

Dependent Accumulation and Underdevelopment

Dependent Accumulation and Underdevelopment

Why, while Europe, North America, and Australia have developed, have Africa, much of Asia, and Latin America remained underdeveloped? Andre Gunder Frank sets out to answer this basic question by showing how world capital accumulation has led to the differentiation of these regions within the single world-embracing economic system. Unequal exchange between regions, combined with the differential transformation of productive, social, and political relations within regions, has led to the capitalist development of some areas and to the underdevelopment of others. | more…