>"Twist and turn as one will, there is no way to avoid the conclusion
>that monopoly capitalism is a self-contradictory system. It tends to
>generate ever more surplus, yet it fails to provide the consumption and
>investment outlets required for the absorption of a rising surplus and
>hence for the smooth workings of the system."
>
>Baran and Sweezy, _Monopoly Capitalism_ Chapter 3, Section 5 (Monthly
>Review Press, 1966) p.108
Ok, this was written almost forty years ago. Since then, we've seen the rise of Japan, Korea, and China, the neoliberal restructuring of the so-called Third World, Reaganism/Thatcherism in the north, the total transformation of the American corporate landscape, and intensification of competition worldwide, the crushing of labor, and a substantial restoration of profitability. This is not a tale of stagnation or failure, but of a very dynamic system.
Doug