Accumulation on a World Scale: A Critique of the Theory of Underdevelopment. (2 Volumes)

VOLUME 1
	Contents
	Introduction
		The Scope of the Analysis
		The Conceptual Equipment of Current Economic Theory
		The Current Theory of Underdevelopment
		From Social Science to the Art of Management
		Accumulation on a World Scale
		For a Theory of the Social Formations of Capitalism
		World Dimension of the Class Struggle
		The Conditions of Development of the Periphery
		ls a Socialist World Possible?
		Plan of the Work and Summary of Conclusions
	1. Unequal International Specialization and the International Flow of Capital
		The Theory of International Exchange
			The Classical (Ricardian) Theory
			From Science to the Ideology of Universal Harmonies
			A Fundamental Contrioution: Unequal Exchange
			The Limits of Economism
		The Forms of International Specialization and the Terms of Trade
			Structural Features of World Trade
			Evolution of the Terms of Trade
			The Worsening of the Terms of Trade
			The Historical Forms of International Specialization
		Foreign Trade and the Question of Markets
			The Inherent Tendency of Capitalism to Expand Markets
			The Inherent Tendency of Central Capitalism to Export Capital
			The Functions of International Trade and of the Export of Capital
			The Monopolistic Nature of International Relations and the Place of Monopolies in World Trade
			Summary of Conclusions
	2. The Formations of Peripheral Capitalism
		Part 1: The Transition to Peripheral Capitalism
			Precapitalist Modes of Production and Formations
				The Beginning of Commodity Relations: The Transition from Subsistence Economy to Commodity Economy
				The Formation of a Capitalism Based on Foreign Trade (Colonial Trade)
				The Formation of a Capitalism Based on the Investment of Foreign Capital
				The Typology of Underdevelopment
		Part 2: The Development of Peripheral Capitalism: The Development of Underdevelopment
			Unequal International Specialization and the Distortions of Development
				Distortion Toward Export Activities
				Distortion Toward Tertiary Activities and Toward Light Activities and Techniques
				Marginalist and Marxist Theories of Investment
				The Social Productivity of Investments
				International Specialization and the Orientation of Investment in the Periphery to Light, Industry and Techniques
			Internatfonal Specialization and the Transfer of Multiplier Mechanisms
				The Theory of the Multiplier and the Accelerator
			International Specialization and the Monopolies
				The Origin and Dynamic of Monopoly Superprofits
				The Concept of the Degree of Monopoly in the Economy
				Monopoly Superprofits and Accumulation at the Center
				Foreign Monopolies and Accumulation in the Periphery
			The Structural Characteristics of Underdevelopment
				Price Structures and Sectoral Unevenness in Productivity
				The Disarticulation of the Underdeveloped Economy
				Economic Domination of the Periphery by the Center
			The Blocking of Transition
	Notes to Volume 1
	Bibliography
VOLUME 2
	Contents
	2. The Formations of Peripheral Capitalism (Continued)
		Part 3: The Social Formations
			The Social Formations
				Peripheral Formations in America and in the East
				Peripheral Formations in Africa
			General Features of Peripheral Formations
				Predominance of Agrarian and Commercial Capitalism
				The Dependent Character of Local Capitalism
				Contemporary Tendencies to the Development of National Bureaucracies
				Summary of Conclusions
	3. The Monetary Mechanisms in the Periphery and the World Monetary System
		The Functions of Money in the Accumulation Mechanisms
			"Classical" Thought
			Keynesian and Contemporary Thought
			The Passive Function of the Banking System
			The Active Function of the Banking System
		The Mechanisms of Issuing Money and Credit
			The Foreign Exchange Standard: The Apparent Mechanisms of Issue
			"Managed" Currency and the Monetary Illusion
		The Concrete Functioning of Bank Credit and the Limits to the Financial Market
		Monetary Disorders and Inflation
			Transmission of the Value of the Dominant Currency
			"Permanent Inflation" and Its Transmission to the Periphery
			Transmission to the Periphery of the Price Structures of the Center
			Monetary Disorders in Underdeveloped Countries
		The Distant Past: The Integration of the Periphery into the World Market for Precious Metals
		Present Times: The International Liquidity Crisis and the Underdevdoped Countries
			Summary of Conclusions
	4. The Role of the Periphery in the World Conjuncture
		The Theory of the Cycle and of the Conjuncture in the Capitalist Mode of Production
			The "Pure" Theory of the Cycle: The Monetary Illusion
			The Theory of "Maturity" and the Theory of the Surplus in Contemporary Monopoly Capitalism
		The Conjuncture of the System in the Periphery
			The General Theory of the Cycle and of the Conjuncture Applied to the Underdeveloped Countries
			The Theories of Transmitted Conjuncture
		The Conjuncture as a World Phenomenon: The Roles of the Center and the Periphery
			A Short History of the World Conjuncture
			Toward a Theory of the Cycle and of the World Conjuncture
			The Role of the Periphery in the Mechanism of Recovery
			Structural Adjustments of the Periphery to the Requirements of the Center
			Summary of Conclusions
	5. The Adjustment of the Periphery's Balance of External Payments
		The Constituent Elements of the External Balance
		The Theory of Mechanisms of "Spontaneous Readjustment" of the External Balance
			The Classical Theory of Price Effects
			The Theory of Exchange Effects
			The Theory of Income Effects
			Conditions and Significance of the "Natural Equilibrium Rate of Exchange"
		Structural Adjustment of the Periphery of the World Capitalist System to the Requirements of Accumulation at the Center
			The Theory of International Structural Adjustment
			The Thesis of R. Prebisch
			Kindleberger's Analysis
		Balance of Payments of the Capitalist Countries of the Periphery
			Hoarding and the Balance of Payments
			Reduction of the External Assets of the Periphery and Devaluation Cycles
			The Lesson of History: From the Foreign-Exchange Standard to the Illusion of Monetary Independence
			Summary of Conclusions
	Afterword to the Second Edition
	Notes to Volume 2
	Bibliography