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New imperialism or new capitalism?

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  • Nitzan, Jonathan
  • Bichler, Shimshon

Abstract

Over the past century, the institution of capital and the process of its accumulation have been fundamentally transformed. By contrast, the theories that explain this institution and process have remained largely unchanged. The purpose of this paper is to address this mismatch. Using a broad brush, we outline a new, power theory of capital and accumulation. We use this theory to assess the changing meaning of the corporation and the capitalist state, the new ways in which capital gets accumulated and the specific historical trajectory of twentieth-century capitalism up to the present.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 5578.

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Date of creation: 2006
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Publication status: Published in Review 1.XXIX(2006): pp. 1-86
Handle: RePEc:pra:mprapa:5578

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Keywords: arms; accumulation; capital flow; capitalism; conflict; corporation; crisis; distribution; elite; energy; finance; globalization; growth; imperialism; GPE; liberalism; Marxism; Middle East; military; national interest; neoclassical economics; neoliberalism; nomos; oil; OPEC; ownership; peace; power; profit; ruling class; security; stagflation; state; stock market; TNC; United States; US; utility; value; violence; war;

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  1. Steedman, Ian, 1975. "Positive Profits with Negative Surplus Value," Economic Journal, Royal Economic Society, vol. 85(337), pages 114-23, March.
  2. Harcourt,G. C., 1972. "Some Cambridge Controversies in the Theory of Capital," Cambridge Books, Cambridge University Press, number 9780521096720.
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