From the editors at Monthly Review:
… “stagnation theory, in short,” [Harry] Magdoff and [Paul] Sweezy wrote in closing their introduction to Stagnation and the Financial Explosion,
teaches us that what we need is not the reform of monopoly capitalism but its replacement by a system that organizes economic activity not for the greater glory of capital but to meet the needs of people to lead decent, secure, and, to the extent possible, creative lives. Once this lesson has been well and truly learned, we can give up the absurd fantasy of making a rotten system work for us, and buckle down to the increasingly urgent tasks of directly fighting for what ought to be the birthright of every member of a society that has any claim to consider itself free and democratic—a job, a steady income, a home, health care, and security in old age. If our ruling class and the government it controls cannot meet these elementary human demands, they should be thrown out and make way for another system that can and will. It is of course bound to be a long and difficult struggle, but it is the only one that makes sense.
Read Notes From the Editors here
mirabile dictu 