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1、REVIEWOFTHEMONTHTheSalesEffortandMonopolyCapitalRObERTW.McCHEsNEy,JOHNbEllaMyFOsTER,INgERl.sTOlE,andHaNNaHHOllEMaNOntheeightiethanniversaryofthe1929StockMarketCrashthatledtotheGreatDepression,theUnitedStatesisonceagaincaughtinaGreatFinancialCrisisanddeepdownturnofanorderofmagnitudecomparabletothe
2、1930s.Atthecenterofthiscrisisisplungingcon-sumerspending,causedbythedestructionofhouseholdfinanceasaresultofdecadesofwagestagnationandthepilingupofdebt.1Consumerspendingintoday’seconomy,dominatedbygiantfirms,issignificantlydependentonthesaleseffort,i.e.,marketingasawhole,withadvertisingasitsmostc
3、onspicuousform.Butthesaleseffortisalsoebbinginthecrisis,contributingtothegeneraldecline.Sointegralisthesalesefforttotheregimeofmonopolycapitalthatonecannotbeunderstoodwithouttheother.Ourgoalinwhatfollowsistoprovideabroadintroductorysketchofthesaleseffortundermonopolycapital(andmorespecificallythe
4、monopoly-financecapitaloftoday)basedonwhatwebelievetobethemostcomprehensivefoundationalworkoncontemporaryadvertising:PaulBaranandPaulSweezy’sMonopolyCapital.Itbuiltuponthepioneer-ingeconomicscholarshiponthissubjectinthemiddlethirdofthetwentiethcentury.2Amongthequestionswewishtoaddressare:(1)thehi
5、storicalconnectionbetweentheemergenceofadvertisingandtheriseofmonopolycapital;(2)theimportanceofthesaleseffortinproppingupaneconomypronetoeconomicstagnationarisingfromalackofef-fectivedemand;(3)theroleoftheadvertisingsysteminthecreationofRobertW.McChesneyistheGutgsellEndowedProfessorintheDepartme
6、ntofCommunicationattheUniversityofIllinoisatUrbana-Champaign.HismostrecentbookisThePoliticalEconomyofMedia:EnduringIssues,EmergingDilemmas(MonthlyReviewPress,2008).JohnBellamyFosteriseditorofMonthlyReviewandprofessorofsociologyattheUniversityofOregon.Heiscoauthor,withFredMagdoff,ofTheGreatFinanci
7、alCrisis:CausesandConsequences(MonthlyReviewPress,January2009)amongnumerousotherworks.IngerL.StoLeisassociateprofessorofcommunicationattheUniversityofIllinoisatUrbana-Champaign.SheistheauthorofAdvertisingonTrial:Consum
