Marx's Capital and contemporary capitalist development

Lucia Pradella

International Journal of Management Concepts and Philosophy, 2011, vol. 5, issue 2, 118-126

Abstract: This paper presents the Marxian law of impoverishment of the working class, defined in Capital as the absolute, general law of capitalist development. It argues that this law must be understood in all its dimensions and on a global scale, as Marx considered international investments, imperialism and migration as structural elements of capital accumulation. The paper discusses then the reasons why the current crisis, far from opening an era of cooperation and peace, is a prelude to a phase of turbulent international competition and major international tensions, that are the international dimension in which this law expresses itself.

Keywords: Marx; capital accumulation; imperialism; labour; capitalism; law of impoverishment; working class; capitalist development; crisis; turbulence; international competition; international tensions. (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijmcph:v:5:y:2011:i:2:p:118-126

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