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.