The Concept of the Periphery As a Concepts

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Introduction The center and periphery are fashionable The Concept of the Periphery as a concepts. They found their way from eco- Constitutive Part of the Capitalist nomic geography to all disciplines of social, and even economic sciences. In this World System expansion, they have taken several guises, but have remained most often descriptive concepts. Their relevance in explaining the actual state of global structures is the claim that a position within the international hierarchy determines countries’ possibilities for dealing with the chal- lenges of growth, autonomy and equality— one’s growth or “underdevelopment” are considered to result from this position within the international hierarchy. Local economies are ultimately shaped from their position in such a global system.

The Center and Periphery as Labels Wherever there are divisions of labor with Hartmut Elsenhans products important for human life, there are centers and peripheries. Agriculture The category “periphery” is useful for and therefore, by deliberately accepting requires, as do recreational activities, large describing positions in the international exploitation for achieving comparative areas. Other activities require the close system. The analytical content however, advantage. With regards to the MENA proximity of the producers who partici- is limited: Under capitalist conditions, region, this “East Asian strategy” seems pate in a production chain. Cities are an overcoming “underdevelopment”/pe- unfit because of limited capacities in early manifestation of the formation of ripheral positions in the world system do wage goods production, especially food. such centers and peripheries. For long not depend on the availability of surplus. periods of time, it was believed that indus- Instead, overcoming “underdevelop- Keywords: Development; World Sys- trial activities were concentrated in the ment” has been achieved by devaluation- tems; Euro-Arab Cooperation; Imperial- most technically developed regions i.e. driven, export-oriented manufacturing, ism; Export-Led Manufacturing the core areas. However, industry increas-

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ingly migrates to “less developed” areas. Asian quest for unlimited state power, the the position of a local area in the global Industries move from their coastal centers absolutist European monarchies dis- unequal hierarchy. to the interior, as is happening in China. placed their centers of government from This view is not shared by mainstream With the exception of some long-standing Paris to Versailles (17th century), and from neoclassical economics, which expect the geopolitical routes, there seem to be few Berlin to Potsdam (18th century). convergence of different localities. Growth stable distributions between the roles of From the phenomena of cities dominating is interpreted as the result of capital for- the center and the periphery. The afore- their surroundings, theories developed mation such that an increase in the use of mentioned exceptions include: The Bay of that explained inequality as the inevitable a production factor leads to diminishing Bengal to the branches of the Indian consequence of specialization. In the most returns. When capital is combined with Ocean that surround the Arabian Penin- diverse cultural settings, it was argued that more labor, its productivity declines. Cap- sula, the routes from the Indus Valley to solidarity of the brain and the stomach did ital will migrate from industrially more the mouths of the Ganga, and the pas- not allow the stomach to revolt against the advanced regions, defined as regions with sages from central Asia to China and India. brain and the brain’s claim to superior higher capital intensity of production, to In nearly all of these cases, the centers are income. Those who opposed such organic less advanced regions where labor is still at the endpoints or the crossings of trad- interpretations of the political order plentiful. The periphery is less advanced ing routes and are privileged as the col- claimed that the center did not serve the but is favored in its growth by the declin- lecting points of monopoly rents—nor- periphery but rather exploited it and con- ing capital productivity in the center. The mally the regions of high agricultural tributed to its further decay. From such periphery is catching up with the center in surpluses. theories, the stable dichotomies between economic growth and productivity. Hierarchical relations are linked to politics center and periphery are deduced. Although they introduce exploitation of and culture. The pre-capitalist city was the the periphery by the center, Marxist theo- center of administration and the “domi- Center and Periphery as Analytical Instru- ries of imperialism agree with this per- nant culture”. From the city, began the ments for Modeling the Dynamics of the spective. Rosa Luxemburg (286-87) process of state-building in the Indian Global System expects capital to migrate to the not-yet- and African contexts—even if dynasties An uneven development with the continu- capitalist areas, which are perceived as had established their own cities outside ous growth of the center, and with its con- being dominated by the natural econ- the urban economy with its concentration tinued dominance over a periphery that it omy,1 until the natural economy is of rising rebellious social classes. Fateh- exploits, has become dominant in West- absorbed and capitalist relations of pro- pur Sikri was built (late 16th century) as a ern and Southern interpretations of the duction have become generalized. Lenin political center in the Mughal Triangle global system—the result being that (279) shares a similar view as he assumes (Delhi, Agra, Jaipur) but did not replace changes in this set-up are believed to that capital in the periphery will create the commercially much more important come only from conscious modification of capitalist societies and technical devel- cities of Agra and Delhi. By imitating the opment and not “underdevelopment” as

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argued later by dependency theory. In and strategic interests, etc. This dis- but also in the Soviet Block, took notice of both theories, the periphery becomes course is becoming a material force in the the nationalist revolutions in the South. transformed by being instrumentalized “underdeveloped” world that imperialist Western Marxism, more than the Marxism for resolving the contradictions in capital- powers can no longer afford to neglect. of the Communist world movement, ist growth in the center. Ironically, it is the These views became prominent in the increasingly perceived in the Wretched of periphery that becomes developed by wake of the economic depression of the the Earth (Fanon) the new revolutionary this instrumentalization. 1930s when the “underdeveloped” world subject. Capitalism had not established It was only when the limits of the capital- was particularly hit, especially by declin- capitalist growth in the periphery, yet, a ist growth impact in not-yet-capitalist ing terms of trade. The deteriorating revolutionary subject had emerged with- countries was diagnosed, as happened terms of trade were only the conse- out capitalism. Marxism joined depen- mainly during the 1930s Great Depres- quence of structural blockages, which dency theory while very few Marxists sion, that economic theories claimed that kept the societies of the periphery from stuck to the old idea of imperialism as a capitalism led to “underdevelopment” being able to accede to the mechanisms pioneer of capitalism (Warren). Post-war and even deepened polarization. Devel- of capitalist growth—mechanisms which Marxism, World Systems theory, and opment-thinking as a means of correct- worked rather successfully in the center Soviet-style Marxism converged in accepting the spontaneous tendencies of the despite all their contradictions. ing that polarization was inevitable under market, initially in the form of an obliga- New theories were developed, initially by the conditions of dominance of a capital- tion of the late colonial state, developed the nationalist Right in Europe ist world system. most when the national liberation move- (Manoïlescu), which alleged that the New variants of a Marxist critique of polit- ments strived for their freedom subse- unregulated capitalist world economy ical economy and World Systems theory quent to World War II. would inflict the periphery with “under- became prominent in debates on why the From the Indian complaints about the development” by exploitation and by periphery was locked into “underdevelop- drain of India in the early 19th century to imposing unequal specialization—a prob- ment” under capitalist dominance. World modern anti-imperialist discourse, there lem that the periphery could overcome Systems theory (Wallerstein, Modern is continuous argumentation that the only by gaining independence in order World System I esp. 350f.) argued that periphery has been blocked from devel- to avail itself of state power as an instru- more “developed” nations were able to opment and equality in performance in ment in the hands of newly rising dynamic draw resources from “less developed” comparison to Europe and North Amer- national elites. countries and so could further their own ica—those blocking factors being the Marxist positions had to accept that their development by blocking the develop- conscious or unconscious working of idea that the metropolitan working classes ment of others. Thus, peripheries were multiple interests in the “developed” would carry out their historical mission of necessary for the welfare of the centers. world, be it trade interests, financial inter- replacing capitalism by socialist revolu- Dependency theory (Furtado; Cardoso ests through economic rents, political tion was misguided. Marxists in the West, and Faletto; Frank) completed this argu-

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ment: Not only is the economic depen- The aforementioned approaches, depen- as locked in to a system of relative prices, dency of the peripheries favorable to the dency theory and World Systems theory, which are based on relative productivities centers, but also in the interest of the priv- both believe in stable hierarchies, and in the leading industrialized countries. ileged classes in those peripheries—main- insist that inequality enhances the charac- Technologies that promote production in taining this dependency kept the periph- ter of the global capitalist economy. The the periphery are blocked because they eries from modifying their unfavorable greed of capitalist enterprises pushes are too costly in comparison to the spe- relationship with the centers. them to reduce the cost of labor and cialization of older products. resources wherever possible. This allows The appropriation of financial resources Why Do Some Countries “Develop” while for the appropriation of surplus produced through rising prices for raw material Others Do Not? in the periphery and its use in the center. exports on the basis of differential rents The Arab world fits well into the theories This additional surplus feeds growth in the provided further proof that availability of that emerged to explain the locked in center and deprives the periphery of nec- financial resources does not necessarily “underdevelopment” of the periphery. essary financial resources for investment. lead to “development.” Rather, it leads to However, resource-poor countries (Singa- By introducing the category of the “semi- specialization in those products that Amin pore, Taiwan, South Korea, Hong Kong), fol- periphery”, World Systems theory protects did not consider to be growth-promoting. lowed by the “emerging” countries (Peo- itself from being criticized by pointing at New wealth blinded the Arab elites and ple’s Republic of China, Vietnam, but also the emergence of industrializing countries forced them to compete for positions Mauritius or Brazil), began industrializing in the periphery. This is a category for within the state apparatus. Because of self- from the 1970s onward. Some of these labelling economies that have to be per- privileging practices, state clashes newly industrialized countries achieved the ceived as being more than exploited and occurred practically everywhere and level of technical development of the West, locked in to “underdevelopment.” World resulted from the disparity between the even overtaking some Western countries. Systems theory describes these econo- necessity to “develop” and the derailment Notably, China has become the workshop mies as having greater resources, having of that initial commitment to “develop- of the world and is ranked second among achieved some level of technical improve- ment.” This rendered state classes ulti- the world’s superpowers. ment, and having disposed of a coherent mately dependent on old imperialist pow- The discourse about a center and periph- state apparatus. However, World Systems ers for the defense of their political power. ery therefore needed to account for the theory does not explain how these Neither coherent states nor available empirical reality of overcoming “under- advances in overcoming “underdevelop- financial resources are at the basis of development” in large tracts of the ment” have been achieved either by the developing the periphery. The vehicle of periphery. However, this change in dis- effects of the international economy or by growth was export-oriented industrializa- course did not take into account the Arab the emergence of local forces of resis- tion, with or without multinational corpo- world and was mostly ignored by the tance. In addition to exploitation of the rations. When export-oriented industrial- Arab world itself. periphery, Amin (172) sees the periphery ization gained momentum, state

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apparatuses emerged that no longer cess of the Green Revolution in some The Arab-Mediterranean Periphery exploited their own economies for polit- countries, an increasing local surplus was Arab countries have been kept from pro- ical purposes, as strong states in the available to feed this additional labor. Fur- ductively using oil rents. Both social and periphery used to do. These new types thermore, the success allowed for the mar- political discipline was lacking in the state of state apparatuses were able to ginalized poor to work on their own small classes, and therefore the rent largesse accompany the process of export-ori- farms for the first time. was not wisely appropriated and allo- ented industrialization by changing the The theory of the center and the periphery cated. Inefficiency in the realization of comparative advantage of their econo- lost two important supportive arguments: investment projects and the lack of coher- mies by acquiring competitiveness in Firstly, as countries accepted low prices ency in the planned industrial structure technology-promoting branches of pro- for their exports, the argument regarding only intensified with increasing financial duction. Among these economies, the the importance of financial resources lost resources. The implications of these polit- more successful were those who were its weight. Secondly, the insistence on the ical-economic models of the rent-based able to enlarge their internal markets by role of the state as a major and efficient ruling classes have been discussed in social reforms, mainly agrarian reforms, instrument for modifying the unfavorable length in the analysis of the state classes which increased the incomes of large positions imposed on some countries by of the bureaucratic development societ- masses of previously impoverished rural the world system was proven equally inac- ies (Elsenhans, State, Class and Develop- populations. curate. The “catching up” process did not ment; Ouaissa). There were increased real mass incomes imply the appropriation of surplus from The Arab world has not been able to shift and low international prices for their labor, abroad, but rather the acceptance of to the strategy that was so successful in which was achieved by currency devalua- exploitation in order to enter new markets. East Asia. Not one Arab nation opted for tion. This combination of increased real The local surplus of agriculture consti- the alternative of devaluation-driven mass incomes and low labor costs was tutes a rent and could have been taxed exports. The international price of local made possible because such exploitation away by the government, as is common labor was higher in the Arab countries was accepted by the exports’ countries of in oil production, and subsequently used than in the East Asian Tiger nations. The destination. The exporting countries for employment-creating, state-con- nearly unlimited availability of foreign added labor to their export branches, but trolled investment programs. Export-ori- exchange did not make the international simultaneously earned less for their labor ented industrialization is a form of mobi- competitiveness of local labor imperative than met the costs for survival. They there- lization of rent, as is state-financed for the foreign exchange incomes of fore needed to be supplied with necessi- spending programs (Elsenhans, Rele- incumbent governments. Huge oil reve- ties from a locally produced surplus of vance), however the former is safer from nues were distributed without simultane- wage goods. At low levels of real mass corruptive practices. ously producing internationally competi- consumption, the share of food in house- tive products with local labor—that hold spending is high. Because of the suc- compulsion to be competitive was miss-

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ing. The Arab elites were, and still very and the Arab international labor costs are contributions in this direction have been much are, too rich to feel any necessity to lower. In reality, all Arab countries must blocked from publication since 2009. resolve the contradiction between wealth enter the markets for manufactured The dependence of the contemporary and “underdevelopment” by an intelli- goods on the basis of the low prices Arab regimes on rent becomes dramati- gent use of rents. These oil economies are offered by the East Asian Tiger nations. cally clear when, as in 2015, world oil so rich that devaluation-driven develop- Neither lack of competitiveness nor food- prices fall or the reserves in conventional ment is politically difficult to impose dependency can be avoided if devalua- oil diminish. The wealthy fight against because the rich, as well as the poor, tion is rejected; devaluation would pro- devaluation in order to defend their pur- oppose it. Intellectuals indulge in pre- tect the local market better than custom chasing power for imported goods, even Keynesian scenarios of either type: neo- duties, which are always vulnerable to while it keeps the poor jobless. Redistribu- liberals are convinced that wealth creates cheating and corruption. Marginalized tion of income in favor of the poor is development, whereas at least some labor could be hired in order to produce blocked, which means that any locally- Marxists, especially in rent-dominated substitutes for currently imported and supplied mass market cannot be created countries, assume that fighting against expensive goods, mass incomes in local let alone increased dynamically. The poor exploitation verbally is enough. currency would increase through higher however, remain ambivalent about such There is, however, an additional prob- levels of employment, and those higher inequitable arrangements as long as they lem for the Arab countries. In contrast to mass incomes would contribute to launch- receive a small share of the rent. East Asian countries, the Arab countries ing new industries with new jobs. The appropriation of rent by the periph- are food-dependent (See the contribu- I have argued (Elsenhans, Comment ery is not the inevitable consequence of tion of Jörg Gertel in this issue). If the approfondir 30) that the food problem the center’s interest in maintaining hierar- local currency devalues, imported food could be alleviated by a European-Arab chy over and deprivation of the periphery. becomes more expensive. Even if this cooperation on the basis of concessional It is the result of fundamental characteris- food is paid for by oil revenues in many supply of European food surpluses to the tics of the power structure in capitalism: countries, which do not decrease in the Arab world. The success of development Capitalism is not maintained by the inter- case of devaluation, devaluation still policies in the Arab world would make it a ests and behavior of the capitalist class, appears harmful for a country’s capacity large market for imported food because but rather capitalism is maintained by the to import food. the Arab world will never be able to pro- pressure from the lower classes for higher Granted, food-dependency in the Arab duce enough food, at reasonable prices, incomes—a pressure which the lower world is an obstacle for any strategy of for its current and future levels of popula- classes can articulate provided they are industrial diversification. The obstacle is tion. In a Mediterranean space where both empowered, normally by employment not overcome even if devaluation is shores contain “developed” economies, (Elsenhans, Kapitalismus global; Saving rejected: New products do not earn less Europe would become the granary of the Capitalism). If there is no pressure from on the world market if the exchange rate Arab world. In Algeria however, all my the working class to create mass con-

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sumption, outcomes are determined by Samir Amin; Bruno Bettelheim), the result real wage increases. Indeed, the capitalists the short-sighted interests of the capital- was the adoption of a relatively simplistic hold such power but only for as long as ists. The “underdevelopment” of the Arab version of Marxism for which contributions the expansion of mass demand does not countries cannot be explained by resource in the Monthly Review could be quoted. In create high levels of employment. transfers but rather by the greed of West- its crudest form, it took the world system As any investment finances itself, capital- ern capitalists, Arab rentiers, state classes to be a mechanism only for extracting sur- ism and capital accumulation do not and middle classes. However, although plus from the exploited “underdeveloped” require a periphery to be exploited in the protests of Western capitalists against world. In its slightly more sophisticated order to maintain the actual accumulation increases in oil prices were originally form in the Wallerstein (The Essential process. Profit is determined by spending voiced loudly, in the end, the redistribu- Wallerstein 88-91) model, it required the on investment and the demand of workers tion against Western countries through periphery to be continuously exploited in in investment-goods production. The idea the rise of OPEC was only mildly opposed order to maintain the center. This was of unlimited accumulation, as Wallerstein by Western capitalists as it did not directly made politically possible by some states, contends (The Western Capitalism 569), is threaten their profits. which Wallerstein coined as the semi- perhaps useful for morally discrediting periphery, that were less deprived of capitalism, however, it has no basis in seri- The Pragmatic Relevance of Center- resources than the periphery. ous analysis of the real economy. It can Periphery Dichotomies The whole architecture of these theories occur only in expanding financial markets The rise of World System Theory in the collapses however, when it became clear where money, which is without counter- 1960s takes its origins from the critique of that the periphery is neither needed for part in the real economy, is created the exploitation, especially deteriorating the sale of excess production nor as a through the banking system. Accumula- terms of trade, of the Global South. It was source of additional surplus to maintain tion as investment in the real economy still linked to the rise of the new left, first in the center. Excess production disappears cannot take place if final demand does not the South and later in the West. Even if not if wages increase. Increasing real wages increase. The rich cannot increase their developed by Marxists but by Singer and do not endanger competitiveness as it is consumption because they risk becoming Prebisch, the theory behind the deteriora- the exchange rate, not the bargain on real uncompetitive. Without outlets for their tion of the situation of the Third World and wages, which determines the international money in real investment, and when still the rise of the new left strengthened each cost of an economy’s labor. The realization having to use money in order to maintain other. In an effort to maintain their audi- of total production (the sale of the produc- their competitive position, they resort to ence in this new emerging market for left- tion including an average profit rate) the financial markets. The extension of the ist ideas, a substantial part of economists requires only appropriate wage increases, financial markets is itself a sign of the attempted to rapidly integrate themselves a solution which Rosa Luxemburg (116) destruction of capitalism, which results into Marxism. Especially outside Paris with had excluded because she thought that from capitalists irresponsibly curtailing its long tradition of Marxist thinking (i.e. capitalists were powerful enough to block

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Hartmut Elsenhans final demand (Elsenhans, Die Globalisier- emerges or why it grows. Economic con- ung der Finanzmärkte 528-36). tributions of the periphery to the center received his PhD in 1973 from FU The very small variations of the capital- may exist in the form of resources or mar- Berlin and his habilitation in 1976. He is output ratio show that one description of kets, and may even have an impact on the professor emeritus in political science at capitalism does not apply: Capitalism is capitalism to which they flow, but would Leipzig University, and currently a visiting not characterized by the accumulation of be replaced by the center’s internal professor at Quaid-i-Azam University endlessly increasing capital. In real terms, resources and sources of demand if they in Islamabad. His prior appointments the value of capital does not increase in did not exist. The relation between the were: 1983-1993 Constance University, relation to total production and therefore core and the periphery matters. However, 1976-1983 Marburg University, 1964-1975 also not in relation to total consumption. if this relation would not exist, capitalism Frankfurt University, 1970-1979 FU Berlin. Capitalists essentially fight against the still would. The capitalist system is capable He held visiting professor positions at devaluation of their capital, which techni- of overcoming its own contradictions. Jawaharlal Nehru University in New Dehli cal obsolescence permanently brings These contradictions are the consequence (1990 and 2002), in Salzburg (1987), Dakar about. There is no increase in the working of the inexistence of a class that authorita- (1986), Montreal (1978), and Lisbon (1991). hours embodied in the stock of capital: tively speaks the truth about what is nec- He has field research experience in Because new capital goods are produced essary for economic development. The Algeria, Bangladesh, France, India, Mali by labor receiving higher real wages, result is that the two contending main and Senegal. His main research interest capital stocks in industrialized countries classes, capital and labor, develop in a lies in theory of the world system, history normally grow in parallel with the growth trial-and-error process while bargaining of capitalism, development economics, of the real wage. on demand expansion. This simultane- state and administration in “developing” This does not exclude the “periphery” as ously represents the fundamental require- societies, new cultural-identitarian being a useful concept. It allows one to ment for further accumulation. This mech- movements, and North-South relations. distinguish between societies where cap- anism works, however, only if labor is not The range of countries of his interest italism works for general prosperity and disempowered, leaving capitalism in a includes Algeria, Austria, Bangladesh, where capitalism has penetrated societies fragile state. Capitalist contradictions are Brazil, Canada, France, Germany, India, from the outside thereby destroying the not rooted in a deficient architecture of Pakistan, South Korea, Sri Lanka, Taiwan, conditions for capitalism to develop. In capitalism, but rather in the functional Tunisia, and the United States. the latter scenario, capitalism introduces dependence of capitalism on the empow- email: [email protected] some form of capitalist regulation without erment of labor—a dependence which eliminating rents and the marginality of capital permanently opposes. labor. Where I depart, is the use of “periphery” as an analytical concept. The periphery does not explain why capitalism

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Notes Works Cited ---. Kapitalismus global: Frank, André Gunder. Ouaissa, Rachid. Staatsklasse Aufstieg - Grenzen - Risiken. “The Development of als Entscheidungsakteur 1 According to Rosa Amin, Samir. Die ungleiche Stuttgart: Kohlhammer, 2012. Underdevelopment.” Monthly in den Ländern der Dritten Luxemburg’s thinking, the Entwicklung: Essay über die Print. Review 18.4 (1966): 17-31. Welt: Struktur, Entwicklung natural economy refers to Gesellschaftsformationen Print. und Aufbau der Staatsklasse those spheres of economic des peripheren Kapitalismus. ---. “Macroeconomics in am Beispiel Algerien. activity that have not yet Hamburg: Hoffmann & Globalization: Productivity, Fanon, Frantz. The Wretched Münster: LIT, 2005. Print. been subsumed into the Campe, 1975. Print. Wages, Profits, and of the Earth. New York: Grove predominant capitalist Exchange Rates in an Era Press, 1965. Print. Prebisch, Raúl. “The economy. Cardoso, Fernando of Globalization.” Brazilian Economic Development Henrique, and Enzo Journal of Political Economy Furtado, Celso. Development of Latin America and Faletto. Dependency and 22.85 (2002): 53-78. Print. and Underdevelopment. Its Principal Problems.” Development in Latin Berkeley, Los Angeles: U of Economic Bulletin for Latin America. Berkeley: U of ---. Saving Capitalism from California P, 1964. Print. America 7.1 (1962): 1-22. Print. California P, 1979. Print. the Capitalists: A Contribution to Global and Historical Lenin, Wladimir Iljitsch. “Der Singer, Hans Wolfgang. Elsenhans, Hartmut. Keynesianism. Beverly Hills, Imperialismus als höchstes “U.S. Foreign Investment “Comment approfondir London, New Delhi: Sage, Stadium des Kapitalismus: in Underdeveloped Areas: la coopération entre rive 2014. Print Gemeinverständlicher Abriß The Distribution of Gains nord et rive sud de la [1916].” Lenin-Werke. Vol. 22. between Investing and Méditerranée: Un Renouveau ---. State, Class and Berlin: Dietz, 1977. 189-309. Borrowing Countries.” économique tenant compte Development. New Delhi: Print. 44 vols. American Economic Review des effets de la rente sur le Radiant Publishers, 1996. 40.2 (1950): 473-85. Print. Sud de la Méditerranée.” Print. Luxemburg, Rosa. Die L’Année au Maghreb 9 (2013): Akkumulation des Wallerstein, Immanuel M. The 19-38. Print. ---. “The Relevance of the Kapitals: Ein Beitrag zur Essential Wallerstein. New Principles of Keynesian ökonomischen Erklärung des York: New Press, 2000. Print. ---. “Die Globalisierung Economics for the Transition Imperialismus. [1912] Berlin: der Finanzmärkte und to Capitalism in Today’s Vereinigung internationaler ---. The Modern World- die Entstehung einer Underdeveloped World.” Verlagsanstalten, 1923. Print. System I: Capitalist neuen Rentenklasse.” Vom Improving the Global Agriculture and the Origins Ewigen Frieden und vom Economy: Keynesianism Manoïlesco, Mihail. Théorie of the European World- Wohlstand der Nationen: and the Growth in Output du protectionnisme et de Economy in the Sixteenth Dieter Senghaas zum 60. and Employment. Ed. Paul l‘échange international. Paris: Century. New York: Academic Geburtstag. Ed. Ulrich Davidson and Jan A. Kregel. Marcel Giard, 1929. Print. Press, 1974. Print. Menzel. Frankfurt/M.: Cheltenham: Edward Elgar, Suhrkamp, 2000. 518-42. 1997. 283-303. Print. ––› Print.

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––› ---. “The Western Capitalism and the Modern World System.” Review: A Journal of the Fernand Braudel Center 15.4 (1992): 561-619. Print.

Warren, Bill. Imperialism: Pioneer of Capitalism. London: NLB, 1980. Print

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