Wallerstein on US, PRC Conflict

Chris Burford cburford at gn.apc.org
Wed Mar 8 15:49:29 PST 2000


At 22:27 07/03/00 -0500, Rakesh wrote:
>Quoting Wallerstein, Chris Burford noted:
>>> it is by no means
>>>certain that the U.S. will be able to corner more quasi-monopolies of the
>>>new leading industries than its rivals.
>>A fine marxist analysis.
>
>Yes, it's a step forward to recognize that it's the cornering of those
>quasi monopolies and not trade balances per se, as Arrighi had it, that
>matters, though no one seriously maintains that the US will have a monopoly
>over all these "quasi monopolies of new leading industries".

Useful references to Marx's analysis of free trade.

NB the concept of "a sort of monopoly " in the passage below and apply on a world scale.

I think this is identical in essence to what Rakesh is calling "quasi monopolies.

Capital Vol 1 Chap 15 Machinery and Modern Industry, Section 3b Prolongation of Working Day.


>>
Machinery produces relative surplus-value; not only by directly depreciating the value of labour-power, and by indirectly cheapening the same through cheapening the commodities that enter into its reproduction, but also, when it is first introduced sporadically into an industry, by converting the labour employed by the owner of that machinery, into labour of a higher degree and greater efficacy, by raising the social value of the article produced above its individual value, and thus enabling the capitalist to replace the value of a day's labour-power by a smaller portion of the value of a day's product. During this transition period, when the use of machinery is a sort of monopoly, the profits are therefore exceptional, and the capitalist endeavours to exploit thoroughly "the sunny time of this his first love," by prolonging the working-day as much as possible. The magnitude of the profit whets his appetite for more profit. <<<

Chris Burford

London



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