In This Review
The Nature and Logic of Capitalism

The Nature and Logic of Capitalism

By Robert L. Heilbroner

Norton, 1985, 225 pp.

Rigorous thinking at a rather high level of generalization makes this a stimulating but sometimes frustrating book. Economics, psychology and history are extensively deployed and produce many provocative findings about accumulation, profits, wages, technology, structural change, and related matters. Property rights are stressed as being of the essence of capitalism, but the countervailing forces that have contributed to the current "crisis of intervention" are somewhat slighted. Prediction is abjured. Like others of Professor Heilbroner's works, this is a book of exceptional interest and considerable originality.