New imperialism or new capitalism?
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.
|Date of creation:||2006|
|Date of revision:|
|Publication status:||Published in Review 1.XXIX(2006): pp. 1-86|
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- Harcourt, G C, 1969. "Some Cambridge Controversies in the Theory of Capital," Journal of Economic Literature, American Economic Association, vol. 7(2), pages 369-405, June.
- Steedman, Ian, 1975. "Positive Profits with Negative Surplus Value," Economic Journal, Royal Economic Society, vol. 85(337), pages 114-23, March.
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