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.

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There is no denying, of course, that in a few nations and for a considerable time, capital has been able to prevent the rise of depressions such as plagued the world momopoly to World War Two.

The arrival of this point in concrete reality is not predictable, but the tendency in this direction explains for Marx the recurrent crises and the increasing difficulty of overcoming periods of capital stagnation eweezy changes in the conditions of production which raise the rate of surplus-value. It was drowned in blood by the Soviet army….

However, such marketing expenditures advertising, sales promotion, excessive model changes, etc. Getting their money back through government orders, the capitalists provide the government with an equivalent quantity of products.

Swdezy capital does not expand because it would not be profitable. Why should he understand the capitalist economy any better than Baran and Sweezy, who, even by considering the economy as a whole and not merely a particular business within it, come to the conclusion that government spending would solve the economic problems of capitalism and of all its classes? His theory of capital competition is at the same time a theory of monopoly, and monopoly, in this sense, always remains competitive, for a non-competitive monopoly capitalism implies the end of market relations such as sustain private-property capitalism.

Therefore, military spending is able to expand to a degree civilian spending is not, providing an important outlet for surplus absorption. In the one case sweezzy problem is approached from eweezy market angle and in the other from that of production, but in both there is restriction of production.


But the accumulation swezy is at the same time a capital concentration process, and just as it tends to play the accumulating capital into fewer hands in each nation, so does it concentrate the world capital into a few caiptal.

Capitalists cannot consume all of their profits, for by doing so, they would soon cease being capitalists.

Monopoly Capital: An Essay on the American Economic and Social Order

This page was last edited on 24 Augustat Joseph Phillips did a little bit of double counting in his wonderful appendix on the surplus. Private accumulation therefore requires the support of barzn spending geared primarily towards imperialistic and militaristic government tendencies, which is the easiest and surest way to utilize surplus productive capacity.

Apparently, all is well with capitalist society as far as the rate of exploitation is concerned. Marx lived in a highly competitive capitalism, to be sure, and he knew that prices, not values, determine market events — even though market events are themselves circumscribed by the social relations as value relations.

It is often baram the most efficient productive apparatus which will secure the profitability of capital. There was the energy crisis and the economic crisis. The size of the surplus is an index of productivity and wealth, of how much freedom a society has to accomplish whatever goals it may set for itself. The surplus-value embodied in commodities is surplus-labour time. Other forms of absorbing the surplus include expansion of the sales effort and the growth of finance, insurance, mohopoly real estate.

A lack of effective demand relative to the production potential leads to unused resources. Big business can maintain setting prices at high levels while still competing to baram costs, advertise, and market their products. In the main, it is the increasing productivity of labour which accounts for her increased production. Moreover, insatiable as it is in its quest for profits, capital goes out of its way to extract surplus-value from all the corners of the world in order to augment the profits made at home.


Monopoly Capital by Paul Mattick

Both situations indicate that the rate of profit capitxl capital is such as to discourage, or even exclude, additional capital investments on a scale large enough to bring forth an effective demand which would assure the realisation of surplus-value on a larger production. Any claim the Soviet Union had to moral leadership of the world socialist movement is now extinguished.

The complaint about the lack of demand is then, actually, a complaint about insufficient profitability. Still, the power of their analysis lies in the synthesis that they were able to present.

The size of this quantity determines the extent to which production has ceased being capital production, and the growth of production by way of taxation indicates the decline of the capitalist system as a profit-determined private enterprise system.

A brilliant description of the economic forces at work in the main centers of economic power—the giant corporations … Monopoly Capital may be regarded as an analysis of the sources of contemporary political formations … and the corporate ideology … Monopoly Capital will be a munificent source of insights and ideas for many years to come.

It is only through the growing capacity to produce that total exchange-value is enlarged and capital accumulated. Fourth, military spending does not compete with capitalist interests in the same way as civilian spending and through imperialism serves to enhance those interests.

And it would be able to sell a larger product if capital would accumulate and thus increase the effective demand. Views Read Edit View history.