Monopoly capital and capitalist inefficiency

Thomas Lambert and Edward Kwon

International Review of Applied Economics, 2015, vol. 29, issue 4, 533-552

Abstract: This paper examines the arguments and assertions of Baran's and Sweezy's Monopoly Capital: An Essay on the American Economic and Social Order (1966) by assessing the degree of economic efficiency or inefficiency in how surplus value and economic surplus were created by 16 major capitalist economies during the 2000s using data envelopment analysis (DEA). After assigning a score to the degree of economic efficiency/inefficiency for each country, one can then assess which factors influence the degree of efficiency/inefficiency. This paper finds empirical support for many of the arguments put forth by the authors, Baran and Sweezy, as well as others regarding the inefficiency of the use of some forms of economic activity to help absorb economic surplus and to create surplus value.

Date: 2015
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Working Paper: Monopoly Capital and Capitalist Inefficiency (2014)
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DOI: 10.1080/02692171.2015.1016409

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