Political Economy
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…
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 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…
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…
A careful analysis of the Bank’s own policy papers and reports, which outlines its philosophy of development and the concrete effects of its projects. | more…
Classic study of the fiscal crisis that gripped New York City — and much of urban America — in the 1970s. | more…
Preeminent theoreticians of the world economy set out their understanding of the long-term dynamics of global capitalism. | more…
One of the 20th century’s foremost Marxian economists discusses the dialectical method, the contradictions of capitalism, and the future of Marxism. | more…
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…
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…
This volume contains a series of essays aimed at illuminating the theory, history, and roots of imperialism, which extend the analysis developed in Madgoff’s The Age of Imperialism 1978. See The Age of Imperialism | more…
This is the third book of essays on the United States and the world economy produced by the fruitful collaboration of Monthly Review editors Paul M. Sweezy and Harry Magdoff. In these essays, written between 1977 and 1981, the authors assess the results of efforts taken to stabilize the economy after the epochal changes of the early 1970s, the end of capitalism’s “golden age,” by attempts to counteract the effects of inflation, debt dependence, speculation, and financial instability. | more…