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Modern Imperialism, Monopoly Finance Capital, and Marx's Law of Value - Monopoly Capital and Marx's Law of Value (Paperback)
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Modern Imperialism, Monopoly Finance Capital, and Marx's Law of Value - Monopoly Capital and Marx's Law of Value (Paperback)
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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.
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