This chapter presents Marx’s theory of surplus value and exploitation. It also discusses Marx’s theories of crises of underconsumption/overproduction and disproportionality. It, then, proceeds to examine whether we can apply Marx’s crisis theories to explain the recent growth performances of the major capitalist countries. In this context, it elucidates the theories of primitive accumulation and the theory of imperialism of Hobson, Luxemburg and Lenin.
Surplus value Exploitation Crisis of underconsumption/overproduction Crisis of disproportionality Primitive accumulation Imperialism
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