Monthly Review

Monthly Review is a magazine specializing in Educational topics.

Articles from Vol. 64, No. 3, July/August

A Missing Chapter of Monopoly Capital: Introduction to Baran and Sweezy's "Some Theoretical Implications"
Monopol)/ Capital: An Essay on the American Economic and Social Order by Paul A. Baran and Paul M. Sweezy, published in 1966, is one of the foundational works in the development of Marxian political economy in the United States and indeed the world,...
Introduction to Special Issue on the Critique of Economics
Fifty years ago this month two chapters, "The Giant Corporation" and "On the Quality of Monopoly Capitalist Society - I," of Paul Baran and Paul Sweezy's then forthcoming book, Monopoly Capital, were published in a special issue of Monthly Review.1 Among...
Keynes, Steindl, and the Critique of Austerity Economics
One may feel tempted to apply the term paradigm to the changes in economic doctrines and especially to the great revolution brought about by Keynes and Kalecki. If one considers the great bulk of the economic profession, however, the term is misplaced....
Last Letters: Correspondence on "Some Theoretical Implications"
Baran to SweezyPalo Alto, California, February 25, 1964A few lines in haste before dashing off to campus. (1) Muchissimas gracias for the Lekachman volume; I am looking forward to perusing your contribution tonight.1 (2) In the same mail arrived your...
Notes from the Editors
As the economies of Europe, North America, and Japan continue to stagnate orthodox economics has revealed itself to be bankrupt, unable to explain what is happening much less what to do about it. It was not the failure to see the "Crisis of 2008" coming...
Some Theoretical Implications
1It may be appropriate at this stage to pause, and, even at the cost of some inevitable repetition, try to draw a few theoretical conclusions from the considerations presented thus far. Indeed, if our preceding account succeeded in capturing the basic...
The GDP Illusion: Value Added versus Value Capture
IntroductionThe "GDP Illusion" is a fault in perception caused by defects in the construction and interpretation of standard economic data. Its main symptom is a systematic underestimation of the real contribution of low-wage workers in the global South...
The Surplus in Monopoly Capitalism and the Imperialist Rent
Editor's Note: Since the 1950s Samir Amin has provided a systematic critique of the capitalist system, beginning with his landmark treatise, The Accumulation of Capital on a World Scale (1957) and extending to his important works of the last few years,...
Two Pauls
In 1957, when I was young and thought I knew everything, I was just about to go to graduate school in economics. Then I read Paul Baran's The Political Economy of Growth.1 I immediately sent him an eight-page, single-spaced review of his book. I said...
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