This is the second in the series of four collections of essays in
which Paul M. Sweezy and Harry Magdoff, the editors of Monthly
Review, set out as it took place the development of U.S. and global
capitalism from the late 1960s to the "financial explosion" age of
the early 1990s and after. This second set of essays constitute in
their totality a probing analysis of the condition of the United
States economy in the 1970s, immediately after the end of the
"golden age" of capitalism. The authors concluded, correctly, that
a new period had begun-"one of sluggish capitalist accumulation and
unemployment in the advanced capitalist countries on a scale not
seen since the 1930s."
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