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The Chase Across The Globe International Accumulation And The Contradictions For Nation States

The Chase Across The Globe International Accumulation And The Contradictions For Nation States

Over the last 20 years — and especially over the last decade — the international expansion of money and commodities and the international relocation of production have grown tremendously. As a result there now exists a real contradiction in accumulation: Although global in orientation it remains structured by the nation state. Conventional economic literature generally explains the international economy as exogenous to the national economy. Though the former does influence the latter national economy and policy remain discrete. Conversely there is a developing literature on globalism that explores the tendency for international capital to eradicate national differences even to overpower nation states. However neither interpretation adequately considers the contradictions for national policy that have accompanied the internationalization of capital. In this volume Dick Bryan examines the influence of the international economy upon domestic accumulation describing the process as the expression of the contradiction between the international scope of accumulation and the national scope of its regulation. Developing a theoretical framework for understanding the contradiction within Marxist political economy he addresses the theory of value on an international scale as well as theories of global restructuring and crisis. These issues are then applied to those domestic policies — such as monetary policy and balance of payments — that interrelate with the international economy. The author argues that the conventional theories informing these approaches have consistently failed to recognize the contradictions in international accumulation. National economic management has as a result reverted to explicit class politics attempting to solve domestic economic problems by targeting the living standards of labor | The Chase Across The Globe International Accumulation And The Contradictions For Nation States

GBP 39.99
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Justrite Ecopolyblend Accumulation Center, 2 Drum, 100% Recycled Polyethylene, Black

The Transition to Capitalism in Modern France Primitive Accumulation and Markets from the Old Regime to the post-WWII Era

The Transition to Capitalism in Modern France Primitive Accumulation and Markets from the Old Regime to the post-WWII Era

Historians since the 1960s argue that the French economy performed as well as did any economy in Europe during the eighteenth and nineteenth centuries thanks to the opportunities for profit available on the market especially the large consumer market in Paris. Whatever economic weaknesses existed did not stem from the social structure but from exogenous forces such as wars the lack of natural resources or slow demographic growth. This book challenges the foregoing consensus by showing that the French economy performed poorly relative to its rivals because of noncapitalist social relations. Specifically peasants and artisans controlled lands and workshops in autonomous communities and did not have to improve labor productivity to survive. Merchants and manufacturers cornered markets instead of being subject to the market’s competitive imperatives. Thus distinctive features of capitalism—primitive accumulation (the dispossession of peasants and artisans) and the competitive obligation faced by merchants and manufacturers to reinvest profits in order to keep the profits—did not prevail until the state imposed them in a process lasting for a century after the 1850s. For this reason it was not until the 1960s that France caught up to (and in some cases surpassed) its economic rivals. | The Transition to Capitalism in Modern France Primitive Accumulation and Markets from the Old Regime to the post-WWII Era

GBP 130.00
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Uneven Development in Southern Europe Studies of Accumulation Class Migration and the State

Uneven Development in Southern Europe Studies of Accumulation Class Migration and the State

First published in 1985 Uneven Development in Southern Europe is an essential reference in the analysis of the significant changes that have taken place within southern Europe. The shifts within the region’s economic political and social structures raise important questions about the nature of uneven development the meaning of dependency and the political consequences of social change. These underlying processes are reflected in debates on issues such as the protracted process of the Mediterranean enlargement of the European Community the plight of ‘guest workers’ in northern Europe and the competition presented by goods and produce from southern Europe. Within the broad framework of tendencies in the movements of labour and capital that are outlined in the introduction successive chapters examine the regional and national impact of labour migration and return evaluate the social consequences of new forms of agricultural production or industrial investment and demonstrate the relationships between uneven development and the growing crisis of legitimacy of southern European states. The emphasis on detailed case studies ensures that the key theoretical questions are addressed with unusual precision while individual chapters also provide useful insights for those interested in France Greece Italy Portugal Spain or Turkey in their own right. The book will be of interest to students of development economy history and migration. | Uneven Development in Southern Europe Studies of Accumulation Class Migration and the State

GBP 130.00
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Declining Profitability and the Evolution of the US Economy A Classical Perspective

Declining Profitability and the Evolution of the US Economy A Classical Perspective

The 1970s were a pivotal decade for the US economy: deindustrialization broke the power of the labor unions and made possible the redistribution of income in favor of corporate profits; globalization and offshore investments opened alternatives to domestic nonfinancial capital accumulation; domestic productivity growth declined; and labor-saving technology empowered superstar corporations to rapidly gain market share. This book argues that the persistent fall in profitability leading to the stagflation crisis was a direct result of the transition from the Fordist phase of capital accumulation based on large-scale manufacturing to the neoliberal phase and the rising power of finance. Neoliberalism restored the power of rentiers but not the profit rates of nonfinancial corporations. Falling accumulation rates weakened the growth capacity of nonfinancial corporate firms and secular stagnation became the norm. Neo-Keynesian economists Larry Summers and Paul Krugman explained the persistence of secular stagnation with arguments borrowed from Alvin Hansen in the 1930s such as the declining birth rate or the falling relative prices of investment goods hence a shortfall of demand. In the Classical paradigm profitability drives capital accumulation and falling profitability slows down growth. As the accumulation rate declined and the capacity growth diminished breakdowns in supply links due to the COVID-19 pandemic prevented large infusions of purchasing power to find matching levels of supply hence the stagflation crisis returned. The book will be a great asset to researchers and scholars interested in the development of Classical Political Economy concerning issues related to inflation stagnation growing inequality and the next phase of neoliberalism. | Declining Profitability and the Evolution of the US Economy A Classical Perspective

GBP 130.00
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