By Wil Hout
"Capitalism and the 3rd global" goals to supply a entire evaluation of dependency and international structures scholarship, and questions no matter if such theories provide a systematic foundation for the learn of diplomacy. Wil Hout compares the theories of dependency and international platforms with their theoretical predecessors and opponents. within the first a part of the booklet, comparisons are made with conventional financial and neo-Marxist theories of imperialism, the liberal concept of foreign loose alternate, Prebisch's structuralism and modernization theories. the second one half analyzes the writings of Andre Gunder Frank, Samir Amin, Johan Galtung and Immanuel Wallerstein, and assessments 3 causal types derived from the writings of those students utilizing quantitative macro-political and macro-economic information. This learn can be utilized for classes on overseas political economic climate and improvement economics and may be of specific curiosity to these learning the political economic system of North-South kinfolk.
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Extra info for Capitalism and the Third World: Development, Dependence and the World System
The basic idea presented by Heckscher and Ohlin is that a country tends to specialize in the production of those commodities which uses that country's most abundant factor of production. As a result of this specialization and the ensuing trade, the factor prices in the trading countries tend to become more equal: in all countries specialization will lead to an increase in the production of certain goods and, as a consequence, the demand for the factors used in this production process will grow and the reward for the factors will go up.
As a consequence of this, the explanation of the Third World countries' lack of development is often focused at the nation-state or individual level; according to some authors, this way of analysing has led the modernization theorists to neglect other important (international) influences. (Esp. Fitzgerald 1983; Higgott 1983; Smith 1985a and 1985b) According to Tony Smith, the failure to take account of factors other than national ones has even been interpreted by the dependency theorists as 'nothing more than an ideological smokescreen behind which North American imperialism freely operated'.
15) According to Magdoff, this description of imperialism can be applied to the 'new' imperialism arising in the late nineteenth century, as well as to more recent forms of 'imperialism without colonies': The desire and need to operate on a world scale is built into the economics of capitalism. Competitive pressures, technical advances, and recurring imbalances between productive capacity and effective demand create continuous pressures for the expansion of markets. (1972, p. 148; d. 1978, pp. 17-113) The development of imperialism is accompanied by an increase of the economic power of an ever-smaller number of large integrated industrial and financial companies.
Capitalism and the Third World: Development, Dependence and the World System by Wil Hout