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Surplus Allocation and Development under Global Capitalism

Author

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  • Cem Somel

    () (Department of Economics, METU)

Abstract

This essay is an endeavour to understand and assess the developmental consequences of global economic integration by focussing on the generation, transfer and utilization of the global surplus. It tries to address the following questions: (1) How does globalization affect surplus generation? (2) Where does the global surplus accumulate? (3) How is the global surplus absorbed? (4) What prospects does this pattern of absorption hold for the capital accumulation needs of poor countries?

Suggested Citation

  • Cem Somel, 2005. "Surplus Allocation and Development under Global Capitalism," ERC Working Papers 0505, ERC - Economic Research Center, Middle East Technical University, revised Oct 2005.
  • Handle: RePEc:met:wpaper:0505
    as

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    File URL: http://www.erc.metu.edu.tr/menu/series05/0505.pdf
    File Function: First version, 2005
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    References listed on IDEAS

    as
    1. Robert C. Feenstra, 1998. "Integration of Trade and Disintegration of Production in the Global Economy," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 31-50, Fall.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Surplus allocation; development; global capitalism;

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism

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