Monopoly Capital at the Turn of the Millenium

  • John Bellamy Foster
Keywords: Stagnation, Monopoly, Political Economy


This article is dedicated to Paul Sweezy on his 90th birthday. It is also meant as a personal expression of my conviction that Monopoly Capital (1966) by Paul Baran and Paul Sweezy, which provided a rich analysis of capital accumulation and crisis rooted in insights from Marx, Keynes, Kalecki, and Schumpeter, is still the most useful starting point from which to view the historical evolution of the United States and other advanced capitalist economies. My intention in this article is to use that general analysis to comment on some of the central empirical developments within the economy in our time—in a new millennium and under conditions of the globalization of monopoly capital.