A History of Marxian Economics, Volume 2: 1929-1990 (Princeton Legacy Library)

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Lenin in Imperialism, the Highest Stage of Capitalism , allowing giant corporations to dominate the accumulation process. Figure 1 presents a brief overview of the conceptualization of capitalism throughout its history, focusing on the development of monopoly capitalism from the s to the present, including both economic and politic facets. It includes IIMC as the newest term in the evolution of monopoly capitalism.

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The years listed reflect the first publication date. IIMC represents the highest form of the imperialism stage of capitalism, given the increasingly coordination between the monopoly capital and the state within core nations. As a state-formed monopoly capitalism, IIMC has been forcing most economies to participate in its system, regardless of whether those economies are capitalist or socialist except North Korea.

This is what Nikolai Bukharin pointed to a century ago. According to Samir Amin,in the globalization era, the efficiency of economic management by nation-states has changed. These countries are monopoly nations. Through international institutional settings e. Capital accumulation and the centralization and concentration of capital led to the formation of monopolies cartels, syndicates, trusts, consortiums, and conglomerates. However, the following organic processes contributed to the formation of monopoly nations:. Table 2 lists the typical monopoly nations in the world in Thus, under the conditions of IIMC, this integration has crucially influenced the globalization process of the world economy, specifically for the peripheral countries.

Although these monopoly nations dominate at different levels and their income is not equivalent, they do not conquer other nations; nonetheless, they help transfer a vast surplus of value from peripheral countries into the core countries. The rise of super-companies has not meant the end of competition, which is globally more intense today than ever before.


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Simultaneously, monopoly nations do not displace super-companies or prevent their monopolistic power; on the contrary, these states directly and indirectly provide super-companies with advantages and benefits. The role of the state and its various imperial alliances with local politicians is facilitated through the discourse of national and international competitiveness. In fact, rivalry is more frequent and fierce between monopoly nations and other economies. The formation of monopoly nations and the emergence of a number of new industrialized countries have caused problems for individual economies to address and settle the issues related to international economic activities.

For example, the legal systems and the legal provisions of nations have become a barrier to the circular flow of resources and limited the mobilities of the super-companies. These can range from the agricultural protection policies that were severely opposed by the Cairns Group at the Uruguay Round in the first time developing countries had played an active role to the restriction regulations in immigration. Meanwhile, the international institutions had just proved their consistency in their role of coordination and international arbitration among new member economies in the beginning phase.

Subsequently, the competitiveness among countries has moved to a higher level and continued to increase, which manifested itself in many forms such as disputes of commerce, technology, and finance, etc. Since its establishment, the World Trade Organization has witnessed many disputes over dumping, anti-subsidy, and safeguarded trade among member economies.

Most of these arguments are related to monopoly nations.

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The number of quarrels is growing rapidly: over the last twenty years in particular, the World Trade Organization has had to resolve hundreds of cases. Specifically, the United States is a typical monopoly nation that is associated with the majority of the commercial disputes in the world cases , followed by the European Union cases , Japan cases , and China cases.

In the context of the multitude of interlocking and complicated disagreements, the dispute settlement mechanism of World Trade Organization constitutes the basic cornerstone maintaining the multilateral trading order.

However, monopoly nations have been controlling this mechanism. If there are disputes among the strongest monopoly nations, this makes them direct competitors these include the United States, Japan, Western Europe, Russia, and China. Thus, monopoly nations tend to compromise and align with others to monopolize the World Trade Organization. Otherwise, super-companies always plan well to avoid a devalued competition. In the case of Ford, Toyota, and the other leading auto firms, the companies did not try to undersell each other in their prices.

Furthermore, monopoly nations monopolize political forums like G-7, the European Union, and even the most powerful United Nations. Thus, these organizations become the direct or indirect means to facilitate the monopoly nations in exploiting other countries. It is inevitable that the activities of powerful international institutions such as the World Bank, International Monetary Fund, and World Trade Organization have not really brought equal benefits to all.

A History of Marxian Economics, Volume II

This organization is beyond the scope of previous international institutions. This is typically the case when the United Nations Security Council members impose sanctions against other nations, trumping any efforts that could weaken their veto power. Exporting capital to seek additional surplus value is a vital feature of monopoly capitalism. A key feature of modern imperialism involves exporting class struggle and civil war to the peripheral regions.

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Even the poorest countries, like those in sub-Saharan Africa, are now money exporters. In addition to exporting capital for appropriating surplus value and profits from the capital-import countries, monopoly nations also erect trade barriers, such as high taxation, quotas, and subsidies or non-tariffs, to prevent the entry of goods and services from other countries in order to protect domestic producers. Lowe ; with an introduction by Derk Bodde Resource Information. The item The adventures of Wu : the life cycle of a Peking man.

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Lowe ; with an introduction by Derk Bodde represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University Of Pikeville. This item is available to borrow from 1 library branch. Creator Lowe, H. Author Lowe, H.

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Language eng. Extent 1 online resource pages. Note Reprint. Isbn Label The adventures of Wu : the life cycle of a Peking man. Y Author Lowe, H.


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