The Theory of Capitalist Development
Cover of the first edition
|Published||1942 (Monthly Review Press)|
The Theory of Capitalist Development is a 1942 book by Paul Sweezy, who offers a statement and defense of the labor theory of value. Sweezy has been criticized for his alleged misrepresentations of Karl Marx's economic theories.
Sweezy expounds and defends the labor theory of value.
Political scientist David McLellan calls Sweezy's work the best modern continuation of Marx's economic ideas. Ernest Mandel accuses Sweezy of several misunderstandings of Marx, including confusing prices of production and market prices, a mistake he sees as a result of Sweezy's employment of the work of Ladislaus von Bortkiewicz, a critic of Marx. Mandel believes that Sweezy's misunderstandings of Marx are similar to those later made by economist Ian Steedman in his Marx after Sraffa (1977).
- Mandel, Ernest (1974). Marxist Economic Theory. London: Merlin Press.
- Marx, Karl; Mandel, Ernest (1991). Capital, Volume 1. London: Penguin. ISBN 0-14-044570-6.
- McLellan, David (1995). Karl Marx: A Biography. London: Papermac. ISBN 0-333-63947-2.
- Wolff, Jonathan (1991). Robert Nozick: Property, Justice and the Minimal State. Stanford, California: Stanford University Press. ISBN 0-8047-1856-3.