The Transition from Feudalism to Capitalism Paperback – 1 Dec 2006
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About the Author
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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