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The Theory of Capitalist Development is a 1942 book by the Marxian economist Paul Sweezy, in which the author expounds and defends the labor theory of value. [1] It has received praise as an important work, but Sweezy has also been criticized for misrepresenting Karl Marx 's economic theories.
Paul Marlor Sweezy (April 10, 1910 – February 27, 2004) was a Marxist economist, political activist, publisher, and founding editor of the long-running magazine Monthly Review. He is best remembered for his contributions to economic theory as one of the leading Marxian economists of the second half of the 20th century.
Monopoly Capital: An Essay on the American Economic and Social Order is a 1966 book by the Marxian economists Paul Sweezy and Paul A. Baran. It was published by Monthly Review Press . It made a major contribution to Marxian theory by shifting attention from the assumption of a competitive economy to the monopolistic economy associated with the ...
Labor and Monopoly Capital: The Degradation of Work in the Twentieth Century is a book about the economics and sociology of work under monopoly capitalism by the political economist Harry Braverman. Building on Monopoly Capital by Paul A. Baran and Paul Sweezy , it was first published in 1974 by Monthly Review Press .
[6] Marxist economist Paul Sweezy rejects Böhm-Bawerk's view that the theory of value must be abandoned. However, he considers Karl Marx and the Close of His System to be the best statement of the argument that the fact that the law of value is not directly controlling in capitalist production requires the rejection of the theory of value.
The variable capital actually tied up by an enterprise at any point in time will usually be less than the annual flow value, because wages can in part be paid out of revenues received from ongoing product sales. Thus, the capital reserves held by an enterprise for paying wages may, at any time, be only 1/10 or so of their annual flow value.
The Accumulation of Capital (full title: The Accumulation of Capital: A Contribution to an Economic Explanation of Imperialism, Die Akkumulation des Kapitals: Ein Beitrag zur ökonomischen Erklärung des Imperialismus) is the principal book-length work of Rosa Luxemburg, first published in 1913, and the only work Luxemburg published on economics during her lifetime.
In Schumpeter's theory, Walrasian equilibrium is not adequate to capture the key mechanisms of economic development. Schumpeter also thought that the institution enabling the entrepreneur to buy the resources needed to realize his vision was a well-developed capitalist financial system, including a whole range of institutions for granting credit .