The New Left in the 60’s and 70’s had challenged Marx’s notion that the working class was the central agent of revolutionary change. But the economic theory that justified this, is less well-known. In this article, the author takes on Baran and Sweezy’s book, Monopoly Capital, and shows the ways in which it differs from Marx. Partially as a result of this book, a generation of New Left militants got lost in Frankfort school cultural studies, structuralism and post modernism.
Image from responseaction.com