The Deepening Crisis of U.S. Capitalism


  • Paul M. Sweezy
  • Harry Magdoff



Political Economy


There was a time not so long ago when only radical critics talked about the long wave of post-Second World War prosperity coming to an end. The business and financial community and its experts could see only endless prosperity, at the very least a continuation of the trends established in the 25 years between 1945 and 1970, interrupted on occasion by minor recessions. In fact, in the very years when signs of the waning of prosperity abounded, orthodox economists kept on boasting about the power of their New Economics, assisted by elaborate econometric models and some ideas borrowed from Keynes, to keep business rollicking along.

This article can also be found at the Monthly Review website, where most recent articles are published in full.

Click here to purchase a PDF version of this article at the Monthly Review website.





Review of the Month