Polarised specialisation of nations
in Imperialism and the development myth
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Polarisation of labour processes and profit rates in the ‘neoliberal period’ occurred between monopoly capitals (which dominate sophisticated labour processes) and non-monopoly capitals (which carry out ‘ordinary’ labour). It is only the sophisticated labour and production processes that can form a sustainable basis for high, monopoly profits. This division of labour also corresponds to the division between rich and poor societies. The rich, imperialist countries are the base of operations for the monopoly corporations while the poor countries produce corporations that are restricted to the ‘domination’ of only ordinary labour processes. Hence, they can and do increase their production without ever thereby catching up. This division of labour has meant that in the neoliberal period, Third World societies massively increased their share of the world’s work but suffered massive terms of trade losses and achieved only a very modest increase in their share of world income. By contrast, the period was highly lucrative for the rich, imperialist countries.

Imperialism and the development myth

How rich countries dominate in the twenty-first century

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