Tag Archives: Naomi Klein

Art & Oil in the Age of Monopoly and Disaster Capital

Daniel Beltrá, "Oil Spill #4," from the series May 6, 2010, 2010. Photograph
Daniel Beltrá, “Oil Spill #4,” from the series May 6, 2010, 2010. Photograph. Used with the permission of the artist

It’s been a half century since the publication of Monopoly Capital: An Essay on the American Economic and Social Order. 1 The book was written by the American Marxist economists Paul Baran and Paul Swezy. Monopoly Capital advances a trenchant critique of advanced industrial capitalism. Still salient, the book remains important for romanticists invested both in the Marxist tradition in critical theory, and the project of tracing the eighteenth-century British origins of contemporary constellations of global capitalist political economy. In this post, I return to Monopoly Capital, trace the text’s key contours, and argue for both its importance for understanding aspects of the contemporary ecological predicament, and the need to update Baran and Swezy’s ideas according to the concept of “disaster capitalism.” 2

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Notes:

  1. Paul Baran and Paul Swezy, Monopoly Capital: An Essay on the American Economic and Social Order (New York: Monthly Review Press, 1966).
  2. See Naomi Klein, The Shock Doctrine: The Rise of Disaster Capitalism (New York: Picador, 2007); Antony Lowenstein, Disaster Capitalism: Making a Killing out of Catastrophe (London: Verso, 2015).