The Institute of Social Research, from which the Frankfurt School developed, was founded in the early years of the Weimar Republic. It survived the Nazi era in exile, to become an important centre of social theory in the postwar era. Early members of the school, such as Adorno, Horkheimer and Marcuse, developed a form of Marxist theory known as Critical Theory, which became influential in the study of class, politics, culture and ideology. The work of more recent members, and in (...) particular Habermas, has received wide attention throughout Europe and North America. Tom Bottomore's study takes a new and controversial look at the contributions of the Frankfurt School to modern sociology, examining several issues not previously discussed elsewhere. He discusses the neglect of history and political economy by the critical theorists, and considers the relationship of the later Frankfurt School to the radical movements of the 1960s and the present time. His critical analysis makes the school's writers accessible, through an assessment of their work and an exploration of the relationship of Critical Theory to other forms of sociological thought, especially positivism and structuralism. (shrink)

RIVALRY AND CENTRAL PLANNING: THE SOCIALIST CALCULATION DEBATE RECONSIDERED by Don Lavoie. New York: Cambridge University Press, 1985. 208 pp., $34.95.

First published in 1985, _Theories of Modern Capitalism _provides a succinct study of Marxist and non-Marxist theories of Capitalism, its recent development, and the prospects of a transition to socialism. The study begins with a critical examination and comparison of four major theories of capitalism, in the works of Marx, Weber, Schumpeter and Hayek. This is followed by an analysis of the most recent phase of capitalism which has been conceptualised by Marxists thinkers in various ways as 'organised capitalism'', 'state (...) monopoly', or 'late capitalism'. Finally, Bottomore considers the question of a 'transition to socialism' in the diverse interpretations which have been offered by Marxists on one side, and by Weber, Schumpeter and Hayek on the other. _Theories of Modern Capitalism_ will be valuable in a wide range of courses in social and political theory, and will also have an appeal to a broader readership concerned with issues of social and economic policy. (shrink)