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Marx's Capital and contemporary capitalist development

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  • Lucia Pradella

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.

Suggested Citation

  • Lucia Pradella, 2011. "Marx's Capital and contemporary capitalist development," International Journal of Management Concepts and Philosophy, Inderscience Enterprises Ltd, vol. 5(2), pages 118-126.
    • Handle: RePEc:ids:ijmcph:v:5:y:2011:i:2:p:118-126
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