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Imperialism in the Financial Capital Era: Forgotten Contributions from Marxist Dependency Theory

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  • Débora Machado Nunes

Abstract

This article argues that the contributions of Marxist Dependency Theory (MDT) can provide theoretical insights for the analysis of financialized capitalism dynamics, contribute to the debate about the rise of a globalized working class, and help guide a transformative praxis in the periphery, therefore being relevant for the debate of contemporary imperialism. I discuss which traditions of dependency theories were most featured in economics literature and why I believe that MDT is marginalized and misinterpreted, focusing on the historical and political aspects of that process. Next, I debate some contributions of contemporary imperialism theory, and conclude that MDT has the potential to advance some of its core concepts and formulate a powerful synthesis. JEL Classification: B51, F54

Suggested Citation

  • Débora Machado Nunes, 2024. "Imperialism in the Financial Capital Era: Forgotten Contributions from Marxist Dependency Theory," Review of Radical Political Economics, Union for Radical Political Economics, vol. 56(1), pages 5-22, March.
    • Handle: RePEc:sae:reorpe:v:56:y:2024:i:1:p:5-22
    DOI: 10.1177/04866134231189835
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    References listed on IDEAS

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    1. Bloch, Harry & Sapsford, David, 2000. "Whither the Terms of Trade? An Elaboration of the Prebisch-Singer Hypothesis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 24(4), pages 461-481, July.
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    3. David Kiefer & Codrina Rada, 2015. "Profit maximising goes global: the race to the bottom," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 39(5), pages 1333-1350.
    4. David I. Harvey & Neil M. Kellard & Jakob B. Madsen & Mark E. Wohar, 2010. "The Prebisch-Singer Hypothesis: Four Centuries of Evidence," The Review of Economics and Statistics, MIT Press, vol. 92(2), pages 367-377, May.
    5. Ingrid Harvold Kvangraven, 2021. "Beyond the Stereotype: Restating the Relevance of the Dependency Research Programme," Development and Change, International Institute of Social Studies, vol. 52(1), pages 76-112, January.
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    More about this item

    Keywords

    dependency theory; Marxist dependency theory; imperialism; Latin America; financialized capitalism;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • F54 - International Economics - - International Relations, National Security, and International Political Economy - - - Colonialism; Imperialism; Postcolonialism

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