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The Law of Worldwide Value: Second Edition
Paperback
ISBN13: 9781583672334
Publisher: Monthly Review Pr
Published: Dec 1 2010
Pages: 160
Weight: 0.44
Height: 0.39 Width: 5.58 Depth: 8.57
Language: English
In this extensively revised and expanded edition of the 1978 classic, Samir Amin suggests new approaches to Marxian analysis of the crisis of the late capitalist system of generalized, financialized, and globalized oligopolies following on the financial collapse of 2008.
Considering that Marx's Capital--written before the emergence of imperialism as a decisive factor in capitalist accumulation--could provide no explanation for the persistent underdevelopment of the countries of the global South, Amin advances several important theoretical concepts extending traditional Marxian views of capitalist evolution. Most strikingly, he proposes adding to the model of reproduction in Volume II of Capital a Third Department of Production devoted to surplus absorption and explores the concept of imperialist rent by extending the Marxian law of value in the form of a new law of globalized value.
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