The Nature and Logic of Capitalism (4)

In chapter 5 of The Nature and Logic of Capitalism (titled “The Ideology of Capital”), Heilbroner discusses the role of ideology under capitalism, as seen in three different areas of social life: economic, political, and cultural. Heilbroner defines ideology as a system of “thought and belief by which dominant classes explain to themselves how their social system operates and what…

The Nature and Logic of Capitalism (3)

Chapter 4 of The Nature and Logic of Capitalism is titled “The Role of the State.” The issue here is the nature of the relationship between two kinds of power, political and economic. Heilbroner begins by noting that a social formation is a complex totality consisting of many different elements; some of these elements function harmoniously while…

The Nature and Logic of Capitalism (1)

Robert L. Heilbroner (1919−2005) was a historian of economic thought and a professor at the New School for Social Research. He wrote about 20 books, one of the most important of which is titled The Nature and Logic of Capitalism (1985). In writing these blog posts, my immediate purpose is to summarize/paraphrase that book, and, in the process, try to…