Paul Marlor Sweezy

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Sweezy, Paul Marlor

 

Born Apr. 10, 1910, in New York City. American economist and journalist.

In 1931, Sweezy graduated from Harvard University, where he also received a Ph.D. in 1937. He taught economics and political economy at Harvard (1934–46), Cornell (1959–60), and Stanford (1961) universities and the New School for Social Research (1964). He is the founder and publisher of the magazine Monthly Review (since 1949), for which he regularly writes articles on current political-economic and historical-economic issues. In a number of works, Sweezy has set forth the principal propositions of the economic theory of K. Marx, so that in bourgeois circles he is regarded as a propagandist of Marxism. However, Sweezy is not a Marxist. For example, in Monopoly Capital (1966), coauthored with P. A. Baran, Sweezy, while stressing the parasitic, decaying character of present-day monopoly capitalism, at the same time propagandizes revisionist ideas of the transformation of bourgeois society, in which shifts of a socialist character supposedly occur.

As an adherent of the vulgar theory of “economic stagnation,” Sweezy has attributed the decline in the growth rate of the American economy to the achievement by the USA of economic “maturity,” which was inevitably followed by a period of “natural” stagnation. He defends the idea of active government intervention in the economy and the introduction of planning to overcome the economic contradictions of present-day capitalism.

WORKS

Secular Stagnation: Postwar Economic Problems. New York, 1943.
Socialism. New York, 1949.
The Theory of Capitalist Development: Principles of Marxian Political Economy [2nd ed.]. New York, 1968.
The Present as History: Essays and Reviews on Capitalism and Socialism, 2nd ed. New York, 1970.
Modern Capitalism and Other Essays. New York, 1972.

V. G. SARYCHEV

References in periodicals archive ?
We also have the theoretical understanding, developed notably by Paul Sweezy and Monthly Review, of how mature capitalism depends on increasing financialisation as a means of staving off crisis due to lack of real growth.
Wright Mills, Leo Huberman, Paul Sweezy, Waldo Frank, Herbert L.
The general analysis follows that pioneered by Paul Sweezy, in particular, drawing on Marx but incorporating insights from other traditions, notably from Keynes.
Here one can see clear connections between the theories of Paul Baran and Paul Sweezy in Monopoly Capitalism with Harvey's views on the production and reproduction of urban life.
Paul Sweezy, a well-known Marxist economist and lecturer, was hauled before an investigative committee of the New Hampshire legislature and questioned about lectures he gave at that university.
Baran, Paul & Paul Sweezy (1967), Monopoly Capitalism, New York, Monthly Review Press.
As Marxists Paul Baran and Paul Sweezy warned: "If military spending were reduced once again to pre-Second World War proportions, the nation's economy would return to a state of profound depression, characterized by unemployment rates of 15 per cent and up, such as prevailed during the 1930s.
Thus, the Marxists Paul Baran and Paul Sweezy refer to the "American oligarchy" and "monopoly capitalism" (1966, 186, 207, chap.
Marxist political economist Paul Sweezy traced the roots of the current crisis to three "intricately interrelated" trends that emerged out of capitalist restructuring in response to the recession of 1973-74.
Canada) began as a collection of essays published from the early 1970s onwards on discrete economic topics--neo-Ricardian theory, analytical Marxism, the falling rate of profit, crisis theory, monopoly capital, Paul Sweezy, advertising, and the capitalist state--but as he put it together he came to realize that there was a unifying theme running through them concerning the methodological project of Karl Marx, which he here aims to "rescue and retrieve" by also including five new essays describing it in relation to the other topics in the essays.
2) Avinash Dixit recalls Paul's humorous description of Joan Robinson's visit to the United States: "She was taken in a sealed train from coast to coast--from Paul Baran to Paul Sweezy.
Paul Baran and Paul Sweezy, Monopoly Capitalism (London: Penguin, 1968).