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| {{DISPLAYTITLE:''Monthly Review''}} | | {{DISPLAYTITLE:''Monthly Review''}} |
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| '''''Monthly Review''''' ('''''MR''''') is a [[Socialism|socialist]] political magazine founded in 1949. Its current editor is [[John Bellamy Foster]]. The economic analysis put out by the founding editors of the magazine is loosely referred to as "The Monthly Review School."<ref>{{Web citation|author=Sam Williams|newspaper=A Critique of Crisis Theory|title=The Monthly Review School|date=2010-02-28|url=https://critiqueofcrisistheory.wordpress.com/responses-to-readers-austrian-economics-versus-marxism/the-monthly-review-school/|retrieved=2023-07-05}}</ref><ref>{{Web citation|author=Michael Roberts|newspaper=The Next Recession|title=John Bellamy Foster and Permanent Stagnation|date=2016-06-25|url=https://thenextrecession.wordpress.com/2016/07/05/john-bellamy-foster-and-permanent-stagnation/|retrieved=2023-07-05|quote=As I understand it, the Monthly Review school reckons that ‘competitive’ capitalism in the 19th century eventually morphed into ‘monopoly capitalism’.}}</ref> The classic exposition of this "school" of economics is laid out in the book, ''Monopoly Capital'' by magazine founders [[Paul A. Baran]] and [[Paul Sweezy|Paul M. Sweezy]]. The book details a new stage of capitalism where the competitive markets analyzed by [[Karl Marx]] have given way to "monopoly capitalism," where competition loses its significance in driving capitalist development and crisis. This new stage is characterized by a "permanent stagnation" only given new life by sporadic innovations in technology.<ref>{{Web citation|author=John Bellamy Foster|newspaper=Monthly Review|title=The Theory of Monopoly Capitalism store page|date=2014-04|url=https://monthlyreview.org/product/theory_of_monopoly_capitalism/|retrieved=2023-07-05}}</ref> | | '''''Monthly Review''''' ('''''MR''''') is a [[Socialism|socialist]] political magazine founded in 1949. Its current editor is [[John Bellamy Foster]]. |
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| In their book, Baran and Sweezy seek to "correct" Marx's assumptions about the [[Tendency of the rate of profit to fall|falling rate of profit]] and they erase [[Surplus-value|surplus value]] from their work in favor of the concept of an "economic surplus."<ref>{{Citation|author=Victor Perlo|year=1976|title=The New Propaganda of Declining Profit Shares and Inadequate Investment|title-url=https://journals.sagepub.com/doi/10.1177/048661347600800305|section=Corrected Trends in the Shares of Capital and Labor|page=61|quote=It should be noted that Baran and Sweezy, who reject the term "surplus value," use Joseph Phillips' comprehensive, economy-wide calculation of the "economic surplus" rising from 46.9 per cent of the GNP in 1929 to 56.1 per cent in 1963.|publisher=SAGE Publishing|doi=10.1177/048661347600800305|volume=8}}</ref>
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| == History == | | == History == |
| ''Monthly Review'' began publication in May 1949 in [[New York City]] and its first two editors were Paul M. Sweezy and [[Leo Huberman]]. Its first issue contained the article ''[[Library:Why Socialism?|Why Socialism?]]'' by [[Albert Einstein]]. In 1952, ''MR'' released ''Hidden History of the Korean War'' by I. F. Stone.<ref>{{News citation|newspaper=Monthly Review|title=About Monthly Review|url=https://monthlyreview.org/about/#today|archive-url=https://web.archive.org/web/20220615121755/https://monthlyreview.org/about/|archive-date=2022-06-15|retrieved=2022-06-17}}</ref> | | ''Monthly Review'' began publication in May 1949 in [[New York City]] and its first two editors were [[Paul M. Sweezy]] and [[Leo Huberman]]. Its first issue contained the article ''[[Library:Why Socialism?|Why Socialism?]]'' by [[Albert Einstein]]. In 1952, ''MR'' released ''Hidden History of the Korean War'' by I. F. Stone.<ref>{{News citation|newspaper=Monthly Review|title=About Monthly Review|url=https://monthlyreview.org/about/#today|archive-url=https://web.archive.org/web/20220615121755/https://monthlyreview.org/about/|archive-date=2022-06-15|retrieved=2022-06-17}}</ref> |
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| == References == | | == References == |
| [[Category:Socialist media outlets]] | | [[Category:Socialist media outlets]] |
