The political economy of growth

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This classic of contemporary Marxist economics provocatively tackles a problem crucial to all economists and social scientists - the conditions for economic progress. How, in short, does a society generate and utilize its economic surplus? From this viewpoint Professor Baran, one of the authors of Monopoly Capital, analyses the economic development of both advanced and developing countries and shows that neither can be understood unless their global interdependence is taken into account. Economic development has always entailed big changes in the social and political structure of society and Professor Baran explains the present turmoil in the world as the necessary accompaniment of processes as radical as the transition from feudalism to capitalism.