This is the first of the series of four collections of essays in which Paul M. Sweezy and Harry Magdoff, the editors of Monthly Review, chronicled, as it was taking place, the development of U.S. and global capitalism from the end of its "golden age" in the late 1960s to the full onset of the financial explosion of the early 1990s and after. With exceptional clarity, the authors explain basic economic principles and bring them to life with concrete examples drawn from the daily workings of the corporations and the financial markets, and the international monetary system.
Henry Samuel Magdoff, was a prominent American socialist commentator. He held several administrative positions in government during the presidency of Franklin D. Roosevelt
Harry Magdoff has been a co-editor of Monthly Review since 1969 and is the author of The Age of Imperialism and Imperialism: From the Colonial Age to the Present.