It has been estimated that even in the absence of net investment, the mere substitution of modern machinery for worn-out equipment in the United States would cause an annual productivity increase of approximately 1.5 percent.

The alarm must be sounded because it is the economic and social system of capitalism and imperialism that prevents the urgently needed full mobilization of the potential economic surplus and the attainment of rates of economic advancement that can be secured with its help.

That the means of imperialist policy overshadow almost entirely its original ends has tremendous implications.

Indeed, I find it illuminating to consider to what extent our "classical conditions" for economic growth are satisfied in the current, monopolistic phase of capitalism.

But when reason and the study of history began revealing the irrationality, the limitations, and the merely transitory nature of the capitalist order, bourgeois ideology as a whole and with it bourgeois economics began abandoning both reason and history.

The present Indian government, however, is neither able or willing to accept the challenge and to provide the leadership in breaking the resistance of urban and rural interests.

Schumpter's daring and dashing entrepreneur is now a legendary figure from the distant past - if not from the mythology of capitalism - or is to be found only in the demimonde of business, founding new ice cream parlors or "deep freeze subscription clubs".