The Theory of Capitalist Development

Since its first publication in 1942, this book has become the classic analytical study of Marxist economics. Written by an economist who is a master of modern academic theory as well as Marxist literature, it has been recognized as the ideal textbook in its subject. Comprehensive, lucid, authoritative, it has not been challenged or even approached by any later study.

Paul M. Sweezy (1910-2004) was born in New York City, educated at Exeter and Harvard, and after receiving his Ph.D. in 1937 went to the London School of Economics, to Vienna, and to other places on the Continent for graduate study. He taught economics at Harvard until 1946 and was visiting professor of economics at Cornell, Stanford, and the New School. He was a founding editor of Monthly Review and author of Monopoly Capital (with Paul Baran), among many other books and articles.