“The Theory of Monopoly Capitalism: An Elaboration of Marxian Political Economy,” (New York: Monthly Review Press, 2014), 320 pp.
John Bellamy Foster is a leading exponent of this theoretical perspective today, continuing in the tradition of Baran and Sweezy’s Monopoly Capital. This new edition of his essential work, The Theory of Monopoly Capitalism, is a clear and accessible explication of this outlook, brought up to the present, and incorporating an analysis of recently discovered “lost” chapters from Monopoly Capital and correspondence between Baran and Sweezy. It also discusses Magdoff and Sweezy’s analysis of the financialization of the economy in the 1970s, ‘80s, and ‘90s, leading up to the Great Financial Crisis of the opening decade of this century. Foster presents and develops the main arguments of monopoly capital theory, examining its key exponents, and addressing its critics in a way that is thoughtful but rigorous, suspicious of dogma but adamant that the deep-seated problems of today’s monopoly-finance capitalism can only truly be solved in the process of overcoming the system itself.
- Second edition (2013), includes new introduction to second edition by author, pp. 22
- “Introduction to Second Edition” published in Monthly Review 65, no. 3 (July-August 2013), pp. 107-34.
- Japanese language edition, (Tokyo: Uni Agency, 1988).
- Chinese Translation of “Introduction to Second Edition” forthcoming in Foreign Theoretical Trends.