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      CAPITALISM: SOME THEORETICAL RECONSIDERATIONS

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      World Review of Political Economy
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            Abstract

            Attempts to understand the current economic crisis, the present stage of world capitalist development and the nature and role of socialist forces will be inconclusive and non-convergent, unless they are based on a rigorous foundation in the theory of capitalist surplus extraction in its pure form, and of the stadial (stages-based) nature of capitalist evolution. Capitalist exploitation rests upon three pillars: differential property ownership, workplace hierarchy and coercion, and existence of a social upper class; these pillars in turn require for their support the market, developed industrial production, and the modern state. Stadial development proceeds through four stages, based on the distinction between diffusion and accumulation, which in turn operate internally and externally in relation to the nation-state. Full capitalist development, in light of this model, is much less ubiquitous in today's world than is usually believed, and much less close to complete stadial fulfillment. Socialist forces must confront these realities in order best to build conditions for socialist construction and social transformation.

            Content

            Author and article information

            Journal
            worlrevipoliecon
            10.2307/j50005553
            World Review of Political Economy
            Pluto Journals
            2042891X
            1 April 2010
            : 1
            : 1
            : 23-50
            Article
            10.2307/41931865
            372b2658-2bc2-4d50-aa23-7a49b641fec8
            © WORLD ASSOCIATION FOR POLITICAL ECONOMY 2010

            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.


            Political economics

            Notes

            1. Deep History: A Study in Social Evolution and Human Potential (Laibman 2007);

            2. Hilferding (1981); Baran and Sweezy (1966); Kuusinen (1960) Lenin (1933)

            3. Marx (1913,1 963); Engels (1966). Cohen (1978); Wright et al. (1992); Carling (1991); Carling and Wetherly (2006).

            4. Rosdolsky (1986); Nimni (1989); Mzala and Hoffman (1990-91)

            5. Laibman (2007), ch. 3.

            6. Mills (2000); Baltzell (1989); Lundberg (1968).

            7. The "hegemony" concept is derived from the Italian Marxist philosopher Antonio Gramsci (Gramsci 1987; Cammett 1967).

            8. Aglietta (1979); Lipietz (1987). Bowles, Gordon, and Weisskopf (1983) Kotz (1990).

            9. Marx, in Capital I (Marx 1967),

            10. Lenin (1951); Rosdolsky (1986); Davis (1967)

            11. Robinson (2004); Robinson and Harris (2000); Sklair (2002); Harris (2009). Tabb (2009)

            12. Linden 2007: 4

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