This edited collection engages with Marx’s General Law of Capitalist Accumulation, examining the relevance and actuality of Marx’s propositions for the analysis of contemporary capitalism in Latin America and beyond. The contributors offer an original and updated interpretation of Marx while also examining important topics in political economy. The contributors bring critical insights into scholarly debates on imperialism, exploitation, labor, and development.
Lorenzo Fusaro is associate professor of political economy at the Universidad Autónoma Metropolitana.
Leinad Johan Alcalá Sandoval is lecturer at the Universidad Nacional Autónoma de México.
Part I. Revisiting Marx’s General Law
Chapter 1: The General Law of Capitalist Accumulation: A Comprehensive Reading from the Perspective of the Systematic Structure of Capital
Chapter 2: Violence and Crepuscular Capitalism. Structural Dynamics and Superstructural Forms of the General Law of Capitalist Accumulation
Chapter 3: The General Law of Capitalist Accumulation and a Theory of Labor-Shortage Business Cycles
Chapter 4: The Determination of Wages in the Framework of Capital Accumulation: The Industrial Reserve Army and the Value of Labor-Power
Chapter 5: Labor Precariousness as an Abstract Form of Domination
Part II. Underdevelopment, Imperialism and the Industrial Reserve Army of Labour in Latin America and Beyond
Chapter 6: Marx´s General Law and the Development of Underdevelopment
Chapter 7: Bordering the Surplus Population across the Mediterranean: Imperialism and Unfree Labor
Chapter 8: Marini within its Limits: A Critique of Super-exploitation as a Structural Mechanism of Accumulation in the Periphery
Chapter 9: Global Inequalities, Digital Capitalism, and Marx's General Law of Accumulation
Chapter 10: The Industrial Reserve Army in the 21st Century. An Approach to the Case of Mexico
Chapter 11: Unpaid Housework, Social Reproduction, and Accumulation of Capital: A Theoretical Framework and Empirical Evidence from Mexico
Fusaro and Alcalá Sandoval, along with a number of outstanding heterodox scholars, rescue one of the central aspects of Marx's work: the general law of capitalist accumulation. Their book masterly and coherently combines the theoretical study and relevant empirical analysis, thus revealing the explanatory potential of a historical materialist approach. Faced with the primacy of subjectivism in neoclassical or Keynesian versions of orthodox economics— which leads to the consideration of underdevelopment as a transitory anomaly and blames human psychology for the so-called market failures—this book vindicates why the analysis must start from the inner logic of capital, impersonal and objective, which irreversibly opposes capital to labor and is materialized in geographically uneven development. This book is absolutely recommended reading.
At the beginning of the third decade of the twenty-first century, the concentration of income and wealth in just 1% of the world population became more evident than ever. The foundations of this process were theorized by Karl Marx in the General Law of Accumulation, which this book proposes to reinterpret in its contemporary manifestation on a global scale. The contributors to this volume offer excellent insights that are essential for understanding the contemporary world. This book is critical for those who wish to understand the changes in the functioning of the law and its implications and concrete manifestations.