Value And Unequal Exchange In International Trade: The Geography of Global Capitalist Exploitation

Cover
Half Title
Series Page
Title Page
Copyright Page
Table of Contents
List of figures
List of tables
List of abbreviations of Marx’s works cited in the text
Preface
Chapter 1 Introduction: Theoretical foundations and measurement of unequal exchange
	1.1 The cultural hegemony of free trade neoliberalism
	1.2 The “practical circumstances” of unequal exchange in heterodox and Marxist economics
	1.3 The theoretical foundations of unequal exchange
	1.4 Mapping unequal exchange in the actual global economy
Chapter 2 The heresy of unequal exchange
	2.1 The antecedent: The dispute between mercantilism and free trade
		2.1.1 Mercantilism
		2.1.2 The dogma of free trade and neo-mercantilist exceptions
	2.2 Structuralist unequal exchange
		2.2.1 Lewis’s dualistic model
		2.2.2 The “Prebisch–Singer thesis”
	2.3 Marxist unequal exchange
		2.3.1 Non-equivalent exchange
		2.3.2 Unequal exchange and monopoly capitalism
	2.4 Arghiri Emmanuel’s theory of unequal exchange
	2.5 A taxonomy of the forms of unequal exchange
	Notes
	Bibliography
Chapter 3 The social algorithm of value
	3.1 The Marxist debate on abstract labour
	3.2 Social labour in general
	3.3 The social algorithm of value
		3.3.1 The notion of algorithm in Marx’s Mathematical Manuscripts31
	3.4 The dual nature of substance and form of value
		3.4.1 The dual nature of abstract labour
		3.4.2 The dual nature of exchange value
	Notes
	Bibliography
Chapter 4 The dual measure of value: Money and labour time
	4.1 “Money as general commodity”1
		4.1.1 The simplifying assumption of gold money in Marx’s Capital
		4.1.2 Commodity in general and specific social forms of commodity
	4.2 The functions of money
		4.2.1 Money as the medium of circulation
		4.2.2 Money as the measure of values
	4.3 The fundamental equivalence of value
		4.3.1 The measurement of exchange value: Labour time and money
		4.3.2 The monetary expression of labour time
	4.4 The law of value and unequal exchange
		4.4.1 Value transfers and the law of value
		4.4.2 The world market and unequal exchange
	Notes
	Bibliography
Chapter 5 The international law of value and money: A general model of unequal exchange
	5.1 Why are prices higher in richer countries?
		5.1.1 The “Penn puzzle” in standard trade theory
		5.1.2 The “Penn puzzle” in non-standard trade theory
	5.2 Universal labour and international value in Marx’s theory
	5.3 The value of money and unequal exchange
		5.3.1 Intensity and productivity of labour and the value of commodities
		5.3.2 The essential modification of the international law of value
		5.3.3 The international value of money and unequal exchange
		5.3.4 Trade and unequal development in regional and international capitalist space
	5.4 A general model of unequal exchange
		5.4.1 A Marxian model of exchange rate determination
		5.4.2 A disaggregated general model of unequal exchange51
	Notes
	Bibliography
Chapter 6 The geography of global exploitation: Measuring unequal exchange over the last 30 years
	6.1 Global value chains and the new international division of labour
	6.2 An aggregate model of unequal exchange in value added trade with GVCs
	6.3 International value transfers from 1990 to 2019
		6.3.1 The total size of value transfers in the global economy
		6.3.2 The receivers: Inflow value transfers in Centre regions
		6.3.3 The donors: Outflow value transfers in the Emerging Periphery
		6.3.4 The donors: Outflow value transfers in the Poor Periphery
	6.4 The relevance of unequal exchange in the actual global economy
	Notes
	Bibliography
	Appendix 6.1 Country classification in geographical regions
Index