Aglietta's path-breaking book is the first attempt at a rigorous historical theory of the whole development of US capitalism, from the Civil War to the Carter Presidency. A major document of the 'Regulation School' of Marxist economists, it was received on publication as the boldest work in its field since the classic studies of Baran, Sweezy and Braverman. This new edition includes a substantial new postface by Aglietta which brings regulation theory face to face with capitalism at the end of this century and beyond.

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