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Showing posts with the label "Samir Amin"
"With the fall of the U.S.S.R. and the rise of the U.S. to unparalleled power, Amin wrote of the ‘empire of chaos’, of a new era that would result in great inequality, precarious labour, the destruction of agriculture and the dangers of political religion. What Amin tracked in 1992 would become clear two decades later, when he revisited these same themes in  The Implosion of Contemporary Capitalism  (2013). Monopoly firms had sucked the life out of the system, turning businesspeople into ‘waged servants’ and journalists into the ‘media clergy’. An unsustainable world system, with finance in dominance and people whipping from one precarious job to another, seemed to threaten the future of humanity. He surveyed the world and found no real alternative to the monopoly-dominated system that—like a vampire—sucked the blood out of the world. This did not mean that history was to drive humanity over the precipice. Other choices lay before us." Death of a Marxist

Exploitation - North and South

"Today the concentration and centralization of capital is manifested in the growth of international monopoly capital. Capital is more and more mobile (along with technology), as the giant firms become increasingly globalized and financialized. Nevertheless, nation-state divisions remain intact with governments promoting the interests of “their” corporations over those of other countries, along with restrictions on the mobility of labor.  The result is a system of unequal exchange, in which the difference in the wages between labor forces in different nations is greater than the difference between their productivities. This creates a system of “imperial rents” accruing to the global corporations in the center—referred to less directly in mainstream economic circles as the “global labor arbitrage.” (An analogous process affects natural resources, drawn from the global South.) All of this points to the superexploitation of labor in the periphery, which receives in wages less than th...