Paul Sweezy
| Paul Sweezy | |
|---|---|
| Born | April 10, 1910 New York City, New York, USA |
| Died | 27 February 2004 (aged 93) |
| Nationality | American |
| Field | Macroeconomics |
| School or tradition |
Marxist |
| Influences | Karl Marx, Rosa Luxemburg, Michał Kalecki, Ladislaus Bortkiewicz, Joseph Schumpeter |
| Influenced | Immanuel Wallerstein, Robin Hahnel, Richard D. Wolff, John Bellamy Foster, Yanis Varoufakis, Norman Finkelstein |
Paul Marlor Sweezy (April 10, 1910 – February 27, 2004) was a Marxian economist, political activist, publisher, and founding editor of the long-running magazine Monthly Review. He is best remembered for his contributions to economic theory as one of the leading Marxian economists of the second half of the 20th century.
Paul Sweezy was born on April 10, 1910 in New York City, the youngest of three sons of Everett B. Sweezy, a vice-president of First National Bank of New York. His mother, Caroline Wilson Sweezy, was a graduate of Goucher College in Baltimore.
Sweezy attended Phillips Exeter Academy and went on to Harvard and was editor of The Harvard Crimson, graduating magna cum laude in 1932. Having completed his undergraduate coursework, his interests shifted from journalism to economics. Sweezy spent the 1931–32 academic year taking courses at the London School of Economics, traveling to Vienna to study on breaks. It was at this time that Sweezy was first exposed to Marxian economic ideas. He made the acquaintance of Joan Robinson and other young left-wing British economic thinkers of the day.
Upon his return to the United States, Sweezy again enrolled at Harvard, from which he received his doctorate degree in 1937. Sweezy was deeply impacted through his interaction with the economist Joseph Schumpeter, becoming fast friends for life with the conservative thinker. Later, as colleagues, their debates on the “Laws of Capitalism” were of legendary status for a generation of Harvard economists.
While at Harvard, Sweezy founded the academic journal The Review of Economic Studies and published essays on imperfect competition, the role of expectations in the determination of supply and demand, and the problem of economic stagnation.
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