“Global Commodity Chains and the New Imperialism” (coauthored with Intan Suwandi and R. Jamil Jonna, Foster listed last), Monthly Review vol. 70, no. 10 (March 2019): 1-24. DOI: 10.14452/MR-070-10-2019-03_1 [HTML]
To comprehend twenty-first-century imperialism we must go beyond analysis of the nation-state to a systematic investigation of the increasing global reach of multinational corporations or the role of the global labor arbitrage. At issue is the way in which today’s global monopolies in the center of the world economy have captured value generated by labor in the periphery within a process of unequal exchange, thus getting “more labour in exchange for less.” The result has been to change the global structure of industrial production while maintaining and often intensifying the global structure of exploitation and value transfer.
- Chinese translation was published in Foreign Theoretical Trends, October 2019.