Read more
How one nation can grow rich at the expense of another is one of the central problems of economics in the era of neo-colonialism. Traditional doctrine, resting on Ricardo's theory of comparative costs, which has dominated investigation of this issue for a century and a half, has proven itself incapable of providing an answer. Emmanuel's path-breaking study, now itself a classic, upends the conventional assumptions, subjecting the phenomena of international trade to critical scrutiny, both systematically and with logical rigor. It integrates the theory of international value (and unequal exchange) into the general theory of value as propounded by the classical economists and Marx.
Enmanuel's theory of unequal exchange generated a widespread world debate on its first appearance, part of which, emanating from French economist Charles Bettelheim, is included in this volume. It has remained the foundation of critical analysis of international exchange relations ever since, and has gained even more importance today in the age of global value chains.
About the author
Arghiri Emmanuel (Author) >
John Bellamy Foster (Introducer) John Bellamy Foster is a Professor Emeritus of Sociology at the University of Oregon and editor of Monthly Review. He has written many books including
The Robbery of Nature (with Brett Clark) and
The Return of Nature, which won the Deutscher Memorial Prize.
Brett Clark (Introducer) Brett Clark is a associate editor of
Monthly Review and a professor of sociology at the University of Utah. He is co-author (with John Bellamy Foster and Richard York) of
Critique of Intelligent Design.
