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Monopoly Capital
''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 giant corporations that dominate the modern accumulation process. Their work played a leading role in the intellectual development of the New Left in the 1960s and 1970s. As a review in the ''American Economic Review'' stated, it represented "the first serious attempt to extend Marx’s model of competitive capitalism to the new conditions of monopoly capitalism." It attracted renewed attention following the Great Recession. Argument Big business can maintain setting prices at high levels while still competing to cut costs, advertise, and market their products. The actual and potential economic surplus generated exceeds the exist ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Sweezy
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. Biography Early years and education Paul Sweezy was born on April 10, 1910, in New York City, the youngest of three sons of Everett B. Sweezy, a vice-president of First National Bank of New York.John Bellamy Foster"Memorial Service for Paul Marlor Sweezy (1910–2004),"''Monthly Review.'' His mother, Caroline Wilson Sweezy, was a graduate of Goucher College in Baltimore. Sweezy attended Phillips Exeter Academy and went on to Harvard and was editor of ''The Harvard Crimson'', graduating ''magna cum laude'' in 1932. Having completed his undergraduate coursework, his interests shifted from journalism to economics. Sweezy spent the 1931–32 academic year ta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Differentiation
In economics and marketing, product differentiation (or simply differentiation) is the process of distinguishing a product or service from others to make it more attractive to a particular target market. This involves differentiating it from competitors' products as well as from a firm's other products. The concept was proposed by Edward Chamberlin in his 1933 book, '' The Theory of Monopolistic Competition''. Rationale Firms have different resource endowments that enable them to construct specific competitive advantages over competitors. Resource endowments allow firms to be different, which reduces competition and makes it possible to reach new segments of the market. Thus, differentiation is the process of distinguishing the differences of a product or offering from others, to make it more attractive to a particular target market. Although research in a niche market may result in changing a product in order to improve differentiation, the changes themselves are not ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English-language Non-fiction Books
English is a West Germanic language that developed in early medieval England and has since become a global lingua franca. The namesake of the language is the Angles, one of the Germanic peoples that migrated to Britain after its Roman occupiers left. English is the most spoken language in the world, primarily due to the global influences of the former British Empire (succeeded by the Commonwealth of Nations) and the United States. English is the third-most spoken native language, after Mandarin Chinese and Spanish; it is also the most widely learned second language in the world, with more second-language speakers than native speakers. English is either the official language or one of the official languages in 57 sovereign states and 30 dependent territories, making it the most geographically widespread language in the world. In the United Kingdom, the United States, Australia, and New Zealand, it is the dominant language for historical reasons without being explicitl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Books By Paul Sweezy
A book is a structured presentation of recorded information, primarily verbal and graphical, through a medium. Originally physical, electronic books and audiobooks are now existent. Physical books are objects that contain printed material, mostly of writing and images. Modern books are typically composed of many pages Bookbinding, bound together and protected by a Book cover, cover, what is known as the ''codex'' format; older formats include the scroll and the Clay tablet, tablet. As a conceptual object, a ''book'' often refers to a written work of substantial length by one or more authors, which may also be distributed digitally as an electronic book (ebook). These kinds of works can be broadly Library classification, classified into fiction (containing invented content, often narratives) and non-fiction (containing content intended as factual truth). But a physical book may not contain a written work: for example, it may contain ''only'' drawings, engravings, photographs, s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Non-fiction Books
American(s) may refer to: * American, something of, from, or related to the United States of America, commonly known as the "United States" or "America" ** Americans, citizens and nationals of the United States of America ** American ancestry, people who self-identify their ancestry as "American" ** American English, the set of varieties of the English language native to the United States ** Native Americans in the United States, indigenous peoples of the United States * American, something of, from, or related to the Americas, also known as "America" ** Indigenous peoples of the Americas * American (word), for analysis and history of the meanings in various contexts Organizations * American Airlines, U.S.-based airline headquartered in Fort Worth, Texas * American Athletic Conference, an American college athletic conference * American Recordings (record label), a record label that was previously known as Def American * American University, in Washington, D.C. Sports teams S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Imperialism Studies
Theories of imperialism are a range of theoretical approaches to understanding the expansion of capitalism into new areas, the unequal development of different countries, and economic systems that may lead to the dominance of some countries over others. These theories are considered distinct from other uses of the word imperialism which refer to the general tendency for empires throughout history to seek power and territorial expansion. While some theories of imperialism were developed by non-Marxists, other theories are associated with Marxist economics. Many theories of imperialism, with the notable exception of ultra-imperialism, hold that imperialist exploitation leads to warfare, colonization, and international inequality. Theories Hobson J. A. Hobson was an English liberal economist best remembered for his '' Imperialism: A Study'', published 1902, which associated imperialism with the growth of monopoly capital and a subsequent underconsumption crisis. Hobson argu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1966 In Economic History
Events January * January 1 – In a coup, Colonel Jean-Bédel Bokassa takes over as military ruler of the Central African Republic, ousting President David Dacko. * January 3 – 1966 Upper Voltan coup d'état: President Maurice Yaméogo is deposed by a military coup in the Republic of Upper Volta (modern-day Burkina Faso). * January 10 ** Pakistani–Indian peace negotiations end successfully with the signing of the Tashkent Declaration, a day before the sudden death of Indian prime minister Lal Bahadur Shastri. ** The House of Representatives of the US state of Georgia refuses to allow African-American representative Julian Bond to take his seat, because of his anti-war stance. * January 15 – 1966 Nigerian coup d'état: A bloody military coup is staged in Nigeria, deposing the civilian government and resulting in the death of Prime Minister Abubakar Tafawa Balewa. * January 17 ** The Nigerian coup is overturned by another faction of the military, led by Major General J ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1966 Non-fiction Books
Events January * January 1 – In a coup, Colonel Jean-Bédel Bokassa takes over as military ruler of the Central African Republic, ousting President David Dacko. * January 3 – 1966 Upper Voltan coup d'état: President Maurice Yaméogo is deposed by a military coup in the Republic of Upper Volta (modern-day Burkina Faso). * January 10 ** Pakistani–Indian peace negotiations end successfully with the signing of the Tashkent Declaration, a day before the sudden death of Indian prime minister Lal Bahadur Shastri. ** Georgia House of Representatives, The House of Representatives of the US state of Georgia refuses to allow African-American representative Julian Bond to take his seat, because of his anti-war stance. * January 15 – 1966 Nigerian coup d'état: A bloody military coup is staged in Nigeria, deposing the civilian government and resulting in the death of Prime Minister Abubakar Tafawa Balewa. * January 17 ** The Nigerian coup is overturned by another faction of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of Economic Thought
The history of economic thought is the study of the philosophies of the different thinkers and theories in the subjects that later became political economy and economics, from the ancient world to the present day. This field encompasses many disparate schools of economic thought. Ancient Greek writers such as the philosopher Aristotle examined ideas about the art of wealth acquisition, and questioned whether property is best left in private or public hands. In the Middle Ages, Thomas Aquinas argued that it was a Morality, moral obligation of businesses to sell goods at a just price. In the Western world, economics was not a separate discipline, but part of Philosophy and economics, philosophy until the 18th–19th century Industrial Revolution and the 19th century Great Divergence, which accelerated economic growth. Ancient economic thought (before 500 AD) Ancient Greece Hesiod active 750 to 650 BC, a Boeotian who wrote the earliest known work concerning the basic origins of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Army Of Labor
Reserve army of labour is a concept in Karl Marx's critique of political economy. It refers to the unemployed and underemployed in capitalist society. It is synonymous with "industrial reserve army" or "relative surplus population", except that the unemployed can be defined as those actually looking for work and that the relative surplus population also includes people unable to work. The use of the word "army" refers to the workers being conscripted and regimented in the workplace in a hierarchy under the command or authority of the owners of capital. Marx did not invent the term "reserve army of labour". It was already being used by Friedrich Engels in his 1845 book ''The Condition of the Working Class in England''. What Marx did was theorize the reserve army of labour as a necessary part of the capitalist organization of work. Prior to what Marx regarded as the start of the capitalist era in human history (i.e. before the 16th century), structural unemployment on a mass scale ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
