Modern Imperialism, Monopoly Finance Capital, and Marx's Law of Value
Modern Imperialism, Monopoly Finance Capital, and Marx's Law of Value

Author: Samir Amin

Publisher: NYU Press

Published: 2018-02-22

Total Pages: 248

ISBN-13: 1583676570

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The complete collection of Samir Amin's work on Marxism value theory Unlike such obvious forms of oppression as feudalism or slavery, capitalism has been able to survive through its genius for disguising corporate profit imperatives as opportunities for individual human equality and advancement. But it was the genius of Karl Marx, in his masterwork, Capital, to discover the converse law of surplus value: behind the illusion of the democratic, supply-and-demand marketplace, lies the workplace, where people trying to earn a living are required to work way beyond the time it takes to pay their wages. Leave it to the genius of Samir Amin to advance Marx's theories—adding to them the work of radical economists such as Michal Kalecki, Josef Steindl, Paul Baran, and Paul Sweezy—to show how Marxian theory can be adapted to modern economic conditions. Amin extends Marx's analysis to describe a concept of “imperialist rent” derived from the radically unequal wages paid for the same labor done by people in both the Global North and the Global South, the rich nations and the poor ones. This is global oligopolistic capitalism, in which finance capital has come to dominate worldwide production and distribution. Amin also advances Baran and Sweezy’s notion of economic surplus to explain a globally monopolized system in which Marx's “law of value” takes the form of a “law of globalized value,” generating a super-exploitation of workers in the Global South. Modern Imperialism, Monopoly Finance Capital, and Marx's Law of Value offers readers, in one volume, the complete collection of Samir Amin’s work on Marxian value theory. The book includes texts from two of Amin's recent works, Three Essays on Marx’s Value Theory and The Law of Worldwide Value, which have provoked considerable controversy and correspondence. Here, Amin answers his critics with a series of letters, clarifying and developing his ideas. This work will occupy an important place among the theoretical resources for anyone involved in the study of contemporary Marxian economic and political theory.

Modern Imperialism, Monopoly Finance Capital, and Marx's Law of Value
Modern Imperialism, Monopoly Finance Capital, and Marx's Law of Value

Author: Samir Amin

Publisher:

Published: 2018

Total Pages: 149

ISBN-13: 9781583676585

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"Unlike such obvious forms of oppression as feudalism or slavery, capitalism has been able to survive through its genius for disguising corporate profit imperatives as opportunities for individual human equality and advancement. But it was the genius of Karl Marx, in his masterwork, Capital, to discover the converse law of surplus value: behind the illusion of the democratic, supply-and-demand marketplace, lies the workplace, where people trying to earn a living are required to work way beyond the time it takes to pay their wages. Leave it to the genius of Samir Amin to advance Marx's theories—adding to them the work of radical economists such as Michal Kalecki, Josef Steindl, Paul Baran, and Paul Sweezy—to show how Marxian theory can be adapted to modern economic conditions. Amin extends Marx's analysis to describe a concept of “imperialist rent” derived from the radically unequal wages paid for the same labor done by people in both the Global North and the Global South, the rich nations and the poor ones. This is global oligopolistic capitalism, in which finance capital has come to dominate worldwide production and distribution. Amin also advances Baran and Sweezy’s notion of economic surplus to explain a globally monopolized system in which Marx's “law of value” takes the form of a “law of globalized value,” generating a super-exploitation of workers in the Global South. Modern Imperialism, Monopoly Finance Capital, and Marx's Law of Value offers readers, in one volume, the complete collection of Samir Amin’s work on Marxian value theory. The book includes texts from two of Amin's recent works, Three Essays on Marx’s Value Theory and The Law of Worldwide Value, which have provoked considerable controversy and correspondence. Here, Amin answers his critics with a series of letters, clarifying and developing his ideas. This work will occupy an important place among the theoretical resources for anyone involved in the study of contemporary Marxian economic and political theory. "--

The Theory of Monopoly Capitalism
The Theory of Monopoly Capitalism

Author: John Bellamy Foster

Publisher: NYU Press

Published: 2014-04-01

Total Pages: 320

ISBN-13: 1583674535

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In 1966, Paul Baran and Paul Sweezy published Monopoly Capital, a monumental work of economic theory and social criticism that sought to reveal the basic nature of the capitalism of their time. Their theory, and its continuing elaboration by Sweezy, Harry Magdoff, and others in Monthly Review magazine, infl uenced generations of radical and heterodox economists. They recognized that Marx’s work was unfi nished and itself historically conditioned, and that any attempt to understand capitalism as an evolving phenomenon needed to take changing conditions into account. Having observed the rise of giant monopolistic (or oligopolistic) fi rms in the twentieth century, they put monopoly capital at the center of their analysis, arguing that the rising surplus such fi rms accumulated—as a result of their pricing power, massive sales efforts, and other factors—could not be profi tably invested back into the economy. Absent any “epoch making innovations” like the automobile or vast new increases in military spending, the result was a general trend toward economic stagnation—a condition that persists, and is increasingly apparent, to this day. Their analysis was also extended to issues of imperialism, or “accumulation on a world scale,” overlapping with the path-breaking work of Samir Amin in particular. John Bellamy Foster is a leading exponent of this theoretical perspective today, continuing in the tradition of Baran and Sweezy’s Monopoly Capital. This new edition of his essential work, The Theory of Monopoly Capitalism, is a clear and accessible explication of this outlook, brought up to the present, and incorporating an analysis of recently discovered “lost” chapters from Monopoly Capital and correspondence between Baran and Sweezy. It also discusses Magdoff and Sweezy’s analysis of the fi nancialization of the economy in the 1970s, ‘80s, and ‘90s, leading up to the Great Financial Crisis of the opening decade of this century. Foster presents and develops the main arguments of monopoly capital theory, examining its key exponents, and addressing its critics in a way that is thoughtful but rigorous, suspicious of dogma but adamant that the deep-seated problems of today’s monopoly-fi nance capitalism can only truly be solved in the process of overcoming the system itself.

Imperialism and the development myth
Imperialism and the development myth

Author: Sam King

Publisher: Manchester University Press

Published: 2021-09-07

Total Pages: 277

ISBN-13: 1526159007

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China and other Third World societies cannot 'catch up' with the rich countries. The contemporary world system is permanently dominated by a small group of rich countries who maintain a vice-like grip over the key parts of the labour process – over the most technologically sophisticated and complex labour. Globalisation of production since the 1980s means much more of the world’s work is now carried out in the poor countries, yet it is the rich, imperialist countries – through their domination of the labour process – that monopolise most of the benefits. Income levels in the First World remain five and ten times higher than Third World countries. The huge gulf between rich and poor worlds is getting bigger not smaller. Under capitalist imperialism, it is permanent. China has moved from being one of the poorest societies to a level now similar with other relatively developed Third World societies – like Mexico and Brazil. The dominant idea that it somehow threatens to ‘catch up’ economically, or overtake the rich countries paves the way for imperialist military and economic aggression against China. King’s meticulous study punctures the rising-China myth. His empirical and theoretical analysis shows that, as long as the world economy continues to be run for private profit, it can no longer produce new imperialist powers. Rather it will continue to reproduce the monopoly of the same rich countries generation after generation. The giant social divide between rich and poor countries cannot be overcome.

Imperialism in the Twenty-First Century
Imperialism in the Twenty-First Century

Author: John Smith

Publisher: NYU Press

Published: 2016-01-22

Total Pages: 383

ISBN-13: 1583675795

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Winner of the first Paul A. Baran-Paul M. Sweezy Memorial Award for an original monograph concerned with the political economy of imperialism, John Smith's Imperialism in the Twenty-First Century is a seminal examination of the relationship between the core capitalist countries and the rest of the world in the age of neoliberal globalization.Deploying a sophisticated Marxist methodology, Smith begins by tracing the production of certain iconic commodities-the T-shirt, the cup of coffee, and the iPhone-and demonstrates how these generate enormous outflows of money from the countries of the Global South to transnational corporations headquartered in the core capitalist nations of the Global North. From there, Smith draws on his empirical findings to powerfully theorize the current shape of imperialism. He argues that the core capitalist countries need no longer rely on military force and colonialism (although these still occur) but increasingly are able to extract profits from workers in the Global South through market mechanisms and, by aggressively favoring places with lower wages, the phenomenon of labor arbitrage. Meticulously researched and forcefully argued, Imperialism in the Twenty-First Century is a major contribution to the theorization and critique of global capitalism.

Delinking
Delinking

Author: Samir Amin

Publisher: Zed Books

Published: 1990-04

Total Pages: 216

ISBN-13:

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Is it possible for the Third World to escape from the constraints imposed by the world's economic system? What room for manoeuvre do these states have, and are they condemned to dependence? These are some of the questions Samir Amin confronts in Delinking. He argues that Third World countries cannot hope to raise living standards if they continue to adjust their development strategies in line with the trends set by a fundamentally unequal global capitalist system over which they have no control. The only alternative, he maintains, is for Third World societies to 'delink' from the logic of the global system - each country submitting its external economic relations to the logic of domestic development priorities, which in turn requires a broad coalition of popular forces in control of the state. Delinking, he shows, is not about absolute autarchy, but a neutralizing of the effects of external economic interactions on internal choices.

Eurocentrism
Eurocentrism

Author: Samir Amin

Publisher: NYU Press

Published: 2010-01-01

Total Pages: 288

ISBN-13: 1583672079

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Since its first publication twenty years ago, Eurocentrism has become a classic of radical thought. Written by one of the world's foremost political economists, this original and provocative essay takes on one of the great "ideological deformations" of our time: Eurocentrism. Rejecting the dominant Eurocentric view of world history, which narrowly and incorrectly posits a progression from the Greek and Roman classical world to Christian feudalism and the European capitalist system, Amin presents a sweeping reinterpretation that emphasizes the crucial historical role played by the Arab Islamic world. Throughout the work, Amin addressesa broad set of concerns, ranging from the ideological nature of scholastic metaphysics to the meanings and shortcomingsof contemporary Islamic fundamentalism. This second edition contains a new introduction and concluding chapter, both of which make the author's arguments even more compelling.

The Value of Marx
The Value of Marx

Author: Alfredo Saad Filho

Publisher: Routledge

Published: 2001-11-29

Total Pages: 311

ISBN-13: 1134566964

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Karl Marx's writings provide a uniquely insightful explanation of the inner workings of capitalism, which other schools of thought generally have difficulty explaining. From this vantage point, Marx's works can help to explain important features and economic problems of our age, and the limits of their possible solutions. For example, the necessity

Imperialism
Imperialism

Author: Vladimir Lenin

Publisher: Ravenio Books

Published: 1939

Total Pages: 128

ISBN-13:

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The pamphlet here presented to the reader was written in the spring of 1916, in Zurich. In the conditions in which I was obliged to work there I naturally suffered somewhat from a shortage of French and English literature and from a serious dearth of Russian literature. However, I made use of the principal English work on imperialism, the book by J. A. Hobson, with all the care that, in my opinion, work deserves. This pamphlet was written with an eye to the tsarist censorship. Hence, I was not only forced to confine myself strictly to an exclusively theoretical, specifically economic analysis of facts, but to formulate the few necessary observations on politics with extreme caution, by hints, in an allegorical language—in that accursed Aesopian language—to which tsarism compelled all revolutionaries to have recourse whenever they took up the pen to write a “legal” work. It is painful, in these days of liberty, to re-read the passages of the pamphlet which have been distorted, cramped, compressed in an iron vice on account of the censor. That the period of imperialism is the eve of the socialist revolution; that social-chauvinism (socialism in words, chauvinism in deeds) is the utter betrayal of socialism, complete desertion to the side of the bourgeoisie; that this split in the working-class movement is bound up with the objective conditions of imperialism, etc.—on these matters I had to speak in a “slavish” tongue, and I must refer the reader who is interested in the subject to the articles I wrote abroad in 1914-17, a new edition of which is soon to appear. In order to show the reader, in a guise acceptable to the censors, how shamelessly untruthful the capitalists and the social-chauvinists who have deserted to their side (and whom Kautsky opposes so inconsistently) are on the question of annexations; in order to show how shamelessly they screen the annexations of their capitalists, I was forced to quote as an example—Japan! The careful reader will easily substitute Russia for Japan, and Finland, Poland, Courland, the Ukraine, Khiva, Bokhara, Estonia or other regions peopled by non-Great Russians, for Korea. I trust that this pamphlet will help the reader to understand the fundamental economic question, that of the economic essence of imperialism, for unless this is studied, it will be impossible to understand and appraise modern war and modern politics.