Название: Modern Imperialism, Monopoly Finance Capital, and Marx's Law of Value
Автор: Samir Amin
Издательство: Ingram
Жанр: Зарубежная деловая литература
isbn: 9781583676578
isbn:
The methods of managing international competition are no longer those known and criticized by Marx. The abandonment of the gold standard and the generalization of flexible exchange rates on the one hand, and the puffing up of the Department III for the absorption of excess surplus-value, on the other, have simultaneously imposed and allowed extreme diversity in economic and financial policy methods. These interventions are based on a healthy dose of empiricism: there is “what has worked” and what has not. But they likewise deploy a vast repertory of “theories,” ranging from Keynes to Hayek and on to Chicago monetarism. They continually reformulate models that claim to integrate the “givens” provided by observation and, consequently, to guarantee the efficacious working of the policies envisaged on that basis. To extend the critique that Marx began of the bases and methods of vulgar economics requires, in turn, the critique of all these post-Marxian theories emerging from the field of vulgar economics.1
Naturally, study of the domain of international competition cannot be reduced to abstract analysis of the mechanical relations linking different economic magnitudes, national and foreign: the volume and price of imports and exports, the flow of capital and its response to the rates of profit and of interest, and so on. In this domain it is always possible to claim that one can derive economic laws from empirical observation of the facts. Thousands of econometric models have been constructed with this end in view, but the results obtained from them have proved meager. In most cases, the laws inferred from observation of the past cannot be confirmed in the future and do not endow the public authorities with effective instruments of control. The reason for this is that what is essential often lies outside these models: the rate of progress of the productive forces, the results of the class struggle, and the effects of the latter upon the former.
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