Radical Political Economy: A Concise Introduction

Drawing heavily on Understanding Capitalism (Bowles and Edwards 1993) but including other strands of radical thought, Barone (economics and American studies, Dickinson College) presents a textbook originally designed for use in Dickinson College's required course for economics undergraduates on heterodox economics. After an introduction to the theories of Karl Marx, Barone describes radical political economic analysis of surplus, class, and exploitation and presents the radical theory of profits, capital accumulation, competition, and class warfare. The theory is extended into the "noneconomic" spheres of culture and the state and the macrodynamics of capitalism are then explored. Finally, capitalism in the United States is measured against the criteria of efficiency, quality of life, equity, and democracy, and a socialist alternative is proposed. Annotation c2004 Book News, Inc., Portland, OR (booknews.com)