Paul A. Baran and Paul M. Sweezy, Monopoly Capital. New York and. London: Monthly Review Press, Pp. ix + Harry Magdoff. New School for Social . This landmark text by Paul Baran and Paul Sweezy is a classic of Monopoly Capital and millions of other books are available for Amazon Kindle. Learn more. Monopoly Capital [Paul And Sweezy, Paul M. Baran] on *FREE* shipping on qualifying offers.
|Published (Last):||5 July 2013|
|PDF File Size:||12.43 Mb|
|ePub File Size:||18.32 Mb|
|Price:||Free* [*Free Regsitration Required]|
This has led to an extension of theory to address what is called “monopoly-finance capital,” the “internationalization of monopoly capital,” the sweezh of the reserve army of labor, and the growing monopolization of communications, most dramatically the Internet.
At this point the rate of profit falls below what is necessary to continue the expansion process.
Because productivity increases even in the absence of accumulation, it is quite independent of the production process as a capital-expansion process. This landmark text by Paul Baran and Paul Anx is a classic of twentieth-century radical thought, a hugely influential book that continues to shape our understanding of modern capitalism.
Whatever these statistics may be worth, and they are admittedly not worth much, they do not relate to the Marxian problem of the determination of the rate of profit, but to the capitalist problem of the division of recorded income — other than wages — among the various interest groups living on the amd. Today, forty years later, their analysis there seems more powerful than ever.
Kolko introduced me to the crucial empirical basis of the theory in excess capacity statistics and I carried out a xapital study of the various measures in this area, which had the effect of convincing me of the concrete basis of the analysis. Appearances to the contrary notwithstanding, when, instead of being a form of competition, monopoly eliminates competition, capitalism finds cwpital on the way out.
From the market point of view, this inability appears as a profit-realisation problem. For Marx, price relations derive from value relations and the study of capitalism must therefore begin with value relations.
Because consumption is increased through exhortations, the enlarged consumption leads to increased production and investments. The overall result is a tendency toward economic stagnation and increased unproductive expenditures as a response. In the main, it is the increasing productivity of labour which accounts for her increased production.
This procedure, however, is precisely the way by which part of the expense of government spending is spread over all of society. Because the displaced working population would still be there, it would have to be supported out of the automated production; capital would feed labour instead of labour feeding capital.
The rate of accumulation is the determining, not cspital determined factor with regard to production. What is the continuing relevance of Monopoly Capital? When Haran finished writing the last page of the paper, I decided that the whole thing was wrong both empirically and in terms of current historical relevance —but I was compelled to turn the paper in anyway since it was for a class. What appears as a profit-realisation problem in one part of the world, is a profit-producing problem in another.
They simply tell us what is obvious, namely, that in a few capitalist nations the productivity of bagan has enormously increased in order to allow for a great amount of waste-production as well as for higher living standards even amd conditions of relative capital stagnation.
Many of the finer points of their analysis of course passed me by at first.
Monopoly Capital by Paul Mattick
From Wikipedia, the free encyclopedia. He was a frequent contributor to Monthly Reviewco-author with Paul M. Assuming, for the moment, that Baran and Sweezy are right, they would still only repeat what Marx himself pointed out, namely, that a sufficient rate captial exploitation temporarily bars the fall of the rate of profit.
The value analysis of capitalism disregards competition, for in the social aggregate all prices equate with total value. First, that capitalist class luxury consumption could not rise as fast as the available surplus and monopoly conditions limited outlets for productive investment.
In brief, the maintenance of the private-enterprise system sets definite limits to the expansion of government-induced production. I did think for years that Baran and Sweezy were wrong when they said that civilian government spending as a share of GDP had reached its outer limits by the late s. Ad size of the surplus is an index of productivity and wealth, of how much freedom a society sweez to accomplish whatever goals it may set for itself.
But all these items are cost-of-production items which mono;oly not recoverable in sales-prices on the market, for, with insignificant exceptions, the products produced for government fall out of the market system.
Monopoly Capital: An Essay on the American Economic and Social Order
In monopoly capitalism, however, these normal modes of surplus utilisation no longer suffice because production outruns the effective demand. There is a difference, however: One of the key contributions of Monopoly Capital is its application of the swewzy of economic surplus. The End of Prosperity. These funds also flow back to the capitalists as payments for production contracted by government. The production resulting from these contracts is being paid for by the capitalists through their taxes.