ERNEST MANDEL (1923-95), historian, economist and activist, was a leading figure in the Fourth International from 1945 and was the author of a number of books, including Late Capitalism, Marxist Economic Theory, Long Waves of Capitalist Development, and The Meaning of the Second World War.CÉDRIC DURAND is Professor of Political Economy at the University of Geneva and a member of the Centre d'économie Paris Nord. He is the author of Fictitious Capital and How Silicon Valley Unleashed Techno-Feudalism

• Introduction: Scrutinizing Capital with One's Eyes Wide OpenIntroduction (1975 edition)1. The Laws of Motion and the History of Capital2. The Structure of the Capitalist World Market3. The Three Main Sources of Surplus-Profit in the Development of Modern Capitalism4. 'Long Waves' in the History of Capitalism5. Valorization of Capital, Class Struggle and the Rate of Surplus-Value in Late Capitalism6. The Specific Nature of the Third Technological Revolution7. The Reduction of the Turnover-Time of Fixed Capital8. The Acceleration of Technological Innovation9. The Permanent Arms Economy and Late Capitalism10. The International Concentration and Centralization of Capital11. Neo-Colonialism and Unequal Exchange12. The Expansion of the Services Sector, the 'Consumer Society', and the Realization of Surplus-Value13. Permanent Inflation14. The Industrial Cycle in Late Capitalism15. The State in the Age of Late Capitalism16. Ideology in the Age of Late Capitalism17. Late Capitalism as a Whole18. The Crisis of Capitalist Relations of ProductionGlossaryIndex

Late Capitalism is the answer to how Marx might view the complex economic phenomena of the 1970s. It is sophisticated, well written, impressively documented. This volume is, indeed, one of the major contributions of the last decade to Marxist economics.