Suchergebnisse

Examined is the role of immigrant workers in West European economies. The capitalist production process is modeled as having three phases: acquisition, production, & realization. Under classic imperialism, the acquisition phase was not fully internationalized because labor power was not acquired from foreign markets. In late capitalism, while capital flows from more developed to less developed countries, labor flows from the periphery to the center. Data from various European countries suggest that immigrant labor forms a buffer between domestic labor & unemployment; this is tied to an increasing temporariness of labor movements. This process, which gives capital protection against crises, increasingly requires control of labor movements by the state. Mobility under late capitalism is characterized by downward positional mobility, movement from periphery to center, & movement of new populations into the capitalist labor process. 3 Tables. W. H. Stoddard.

Cover -- Title -- Copyright -- Contents -- List of Figures -- List of Tables -- Introduction -- 1. Value and Nature -- Marx and Engels on Nature -- Labour and Nature: The Source of Wealth -- Measuring the Damage -- Nature and Rent -- Raw Materials and Profitability -- Global Warming and Climate Change -- Mainstream economics and climate change -- Measuring Global Warming and Growth -- The Market Solution -- The 'Degrowth' Solution -- The Planning Solution -- Pandemics: Nature Strikes Back -- 2. Money, Prices and Value -- Marx's Value Theory of Money -- Modern Monetary Theory -- Cryptocurrencies -- Digital Currencies -- Inflation -- 3. Crises and Value -- Marx's Theory of Crises -- Marx's Theory of Crisis Is Both Cyclical and Secular -- Alternative Marxist Theories of Crises -- 4. Imperialism and Value -- Global Growth and Profitability of Capital -- Productivity and Imperialism -- Lenin and Modern Imperialism -- The Economics of Imperialism: The Evidence -- Alternative Views of UE -- Super-exploitation -- Measuring Unequal Exchange in Trade -- Is China Imperialist? -- Summary -- 5. Robots, Knowledge and Value -- Robots and the Law of Value -- Knowledge and Value -- How Is Knowledge Produced? -- Machine 'Thinking' -- Individual and Social Knowledge -- Class Knowledge -- The Myth of the Non-neutrality of Knowledge -- Value and the Internet -- Conclusion -- 6. Socialism -- Value and Socialism -- The Transitional Economy -- Case Study: The Soviet Union -- Case Study: China's Transition -- Productivity versus Profitability -- State Capitalism or a Transitional Economy? -- Socialist Planning versus the Law of Value -- Appendix 1. The Value Theory of Inflation: The Method -- Appendix 2. Measuring Unequal Exchange in International Trade -- Notes -- Bibliography -- Index.

Abstract
This work focuses exclusively on the modern economic aspects of imperialism. We define it as a persistent and long-term net appropriation of surplus value by the high-technology imperialist countries from the low-technology dominated countries. This process is placed within the secular tendential fall in profitability, not only in the imperialist countries but also in the dominated ones. We identify four channels through which surplus value flows to the imperialist countries: currency seigniorage; income flows from capital investments; unequal exchange through trade; and changes in exchange rates.
We pay particular attention to the theorisation and quantification of international UE and of exchange-rate movements. Concerning UE, we extend Marx's transformation procedure to the international setting. We use two variables in the analysis of UE: the organic composition of capital and the rate of exploitation, and we measure which of these two variables is more important in contributing to UE transfers. We research a time span longer than in any previous study. We also introduce the distinction between narrow and broad unequal exchange according to whether two countries are assumed to trade only with each other or also with the rest of the world.
As for the analysis of the exchange rates as a channel for appropriation of international surplus value, we reject conventional approaches because they are rooted in equilibrium theory. We find very strong empirical evidence that exchange rates tend towards the point at which the productivities are equalised. This is only a tendency because this equalisation is inherently incompatible with the nature of imperialism.
Finally, given its topicality, we apply our analysis to the relation between the US and China and find that China is not an imperialist country according to our definition and data.

The central thesis of this article is that, besides the imperialism of some of the EU member countries (national imperialisms), there exists also imperialism of the EU as a whole. The thesis is argued theoretically and illustrated by considering the following: first, relations between the EU and the Central and Eastern and European Countries; second, the Common Agricultural Policy; third, the common military policy; and fourth, the Schengen System (i.e., the common immigration policy).