The Theory of Capitalist Development
.jpg) Cover of the first edition | |
| Author | Paul Sweezy |
|---|---|
| Language | English |
| Subject | Labor theory of value |
| Publisher | Monthly Review Press |
Publication date | 1942 |
| Publication place | United States |
| Media type | Print (Hardcover and Paperback) |
| Pages | 398 |
| ISBN | 978-0853450795 |
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.
Summary
[edit]Sweezy expounds and defends the labor theory of value.[1] The book is divided into four sections.
1. Value and Surplus Value
2. The Accumulation Process
3. Crisis and Depression
4. Imperialism[citation needed]
Reception
[edit]Eric Roll reviewed The Theory of Capitalist Development positively in The Yale Law Journal, calling it an important work. Roll wrote that its appearance alongside the economist Joan Robinson's An Essay on Marxian Economics (1942) represented "a significant landmark in the development of economic thinking." Roll credited Sweezy with providing "the first modern comprehensive and systematic exposition of Marxian economic theory in the English language."[2]
The political scientist David McLellan called Sweezy's work the best modern continuation of Marx's economic ideas.[3] The Marxist theorist Ernest Mandel accused Sweezy of several misunderstandings of Marx, including confusing prices of production and market prices, a mistake he saw as a result of Sweezy's employment of the work of Ladislaus von Bortkiewicz,[4] a critic of Marx.[5] Mandel compared Sweezy's misunderstandings of Marx to those later made by economist Ian Steedman in his Marx after Sraffa (1977).[6]
See also
[edit]References
[edit]- ^ a b Wolff 1991. pp. 151-152.
- ^ Roll 1943.
- ^ McLellan 1995. p. 439.
- ^ Mandel 1991. p. 27.
- ^ Mandel 1974. p. 301.
- ^ Mandel 1991. p. 9.
Bibliography
[edit]- Books
- Mandel, Ernest (1974). Marxist Economic Theory. London: Merlin Press.
- Marx, Karl; Mandel, Ernest (1991). Capital, Volume 1. London: Penguin. ISBN 0-14-044570-6.
- McLellan, David (1995). Karl Marx: A Biography. London: Papermac. ISBN 0-333-63947-2.
- Wolff, Jonathan (1991). Robert Nozick: Property, Justice and the Minimal State. Stanford, California: Stanford University Press. ISBN 0-8047-1856-3.
- Online articles
- Roll, Eric. "Reviewed Works: The Theory of Capitalist Development by Paul M. Sweezy; An Essay on Marxian Economics by Joan Robinson". JSTOR 792264.
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