Jan Toporowski: Kalecki and the Political Economy of Trades Unions

‘There are certain “workers’ friends” who try to persuade the working class to abandon the fight for wages, of course in its own interest. The usual argument used for this purpose is that the increase of wages causes unemployment, and is thus detrimental to the working class as a whole… Our investigation… has shown that a wage increase… tends to reduce the degree of monopoly and thus to raise real wages… If viewed from this standpoint, strikes must have the full sympathy of “workers’ friends”. For a rise in wages tends to reduce the degree of Weiterlesen

Jan Toporowski: Sweezy and the Monthly Review on Capitalism and Finance

The New York Monthly Review established by Paul Sweezy and Leo Huberman in 1949 represents a unique venture in disseminating Marxist ideas in a way that has been informed by serious economic analysis. In particular it has benefited from the close relationship that Paul Sweezy had with his PhD supervisor at Harvard, Joseph Schumpeter; Sweezy’s own personal knowledge of finance through his father, who was one of five vice-presidents of the New York-based First National Bank (which eventually became Citibank); More