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By M. Howard, J. King

This moment quantity of the hugely profitable, A background of Marxian Economics, covers the interval from 1929 to the current. the most debates and subject matters of this era are the good melancholy and Stalinism, the lengthy growth and its dying, New Theories of Imperialism, price and Exploitation, and present Controversies. As with the 1st quantity Michael Howard and John King have written an authoritative and stimulating account of the heritage of Marxian Economics over this era.

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This reflected the goal of 'catching up and overtaking' advanced capitalist countries, as well as the traditional Marxist belief in the superior efficiency of large-scale organisation. But Dobb again sought to humanise the issue. He argued that, in conditions where the size of the investable surplus was the binding constraint on faster economic growth, it was rational to choose techniques which maximised the surplus, and that these would tend to be more capital-intensive than those techniques which maximised current output or employment.

F. Pollock, 'Die Gegenwartige Lage des Kapitalismus und die Aussichten einer PlanwirtschaftIichen Neuordnung', Zeitschriftfiir SozialJorschung, I, 1932, p. 27. Pollock, 'Bemerkungen', pp. 346-53. F. Pollock, 'State Capitalism: Its Possibilities and Limitations', in A. Arato and E. Gebhardt (eds), The Essential Frankfurt School Reader (Oxford: Blackwell, 1978), pp. 71-94; the article was first published in 1941. ', Studies in Philosophy and Social Science, 9, 1941, pp. 440-55. Ibid, pp. 73, 89-90.

22--42. 9. Pollock, 'Bemerkungen', p. 325; cf. N. Moszkowska, Zur Kritik Moderner Krisentheorien (Prague: Michael Kacha, 1935), p. 102. 10. H. L. Hirschfeld, 1929); cf. M. Sweezy, The Theory of Capitalist Development (New York: Monthly Review Press, 1970; first published 1942), ch. R. Hansen, The Breakdown of Capitalism (London: Routledge & Kegan Paul, 1985). 11. E. Varga, The Great Crisis and its Political Consequences: Economics and Politics (New York: Howard Fertig, 1974; first published 1935), pp.

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