Read e-book online Accumulation in an African periphery: a theoretical PDF

By Issa G. Shivji

ISBN-10: 9987080316

ISBN-13: 9789987080311

The "Washington consensus" which ushered in neo-liberal rules in Africa is over. It used to be buried on the G20 assembly in London in early April, 2009. the area capitalist procedure is in shambles. The champions of capitalism within the international North are rewriting the principles of the sport to reserve it. The hindrance creates a gap for the worldwide South, specifically Africa, to refuse to play the capitalist-imperialist video game, regardless of the ideas. it's time to reconsider and revisit the advance path and techniques at the continent. this is often the important message of this intensely argued ebook. Issa Shivji demonstrates the necessity to return to the fundamentals of radical political financial system and ask basic questions: who produces the society's surplus product, who appropriates and accumulates it and the way is that this performed. what's the personality of accumulation and what's the social corporation of switch? The booklet offers another theoretical framework to assist African researchers and intellectuals to appreciate their societies larger and give a contribution in the direction of altering them within the curiosity of the operating humans.

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In effect, it is a form of primitive accumulation or accumulation by dispossession in that profit or surplus value cuts into necessary product. Short time horizons inform investment decisions. M o n o 7is to be made quickly and one way of d oing it is hy trading in money rather than in commodities. Production of commodities involves Jong gestation periods. New forms of predator)' capital 51 have no time for that, ihcy ekher capture already existing values by whatever (means they can, ot pillage natural resources or quickly turn them into commodities, “Speculative finance '.

Regarded in t b k lighL jf c m ii u lai inn is pureiy p cd n om ic proeesi. w iih ics Liiotr im p o rtan r phase a [rjriK iciton betw een the cap italisi and [Jit wage la b o u r e r __ H e r t, in form ,it any iate, peace. p ro p e rty and. - i>f s e iL n n tic analysis w ere re q u ired co reveal h o w th e ri^hc o f o w n e rsh ip ch a n g e s Lji th e co u rse o f a c c u m u la tio n in to a p p r o p ria tio n c o m m o d ity oi o th e r peop led p ro p erty , how exch an ge [urns in to u sp lo itaT ion .

K W hether rhis is due ro the regenerative capacity or 4ritalicy of capitalism or the result of its enormous propensity to destroy and rebuild on self-created ruins is a different matter and a point for debate. Prem S hanker Jha seems to argue something in the latter mode {jh a 2 0 0 6 ) . Over the 7 0 0 years of its histoiy4 jh a argues, capitalism has gone though three cycles of accumulation. At each cycle of its expansion, capitalism burst open its container', causing enormous destruction in the process.

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Accumulation in an African periphery: a theoretical framework by Issa G. Shivji

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