Abstract
The focus of this paper is twofold: first, to sketch an analytical framework that may be helpful in underpinning the key conceptual correlates of contemporary Global Value Systems (GVSs), while flagging, very briefly, its historical antecedents and tracking it to its current juncture; second, to reflect on a couple of major economic implications, particularly for developing countries, associated with the current phase of the global production and appropriation regimes, ascendent since the 1970s. There is a large and contentious literature on both these broad themes covering several issues; this paper is neither intended as survey of all the important contributions, nor as an adequate engagement with divergent views in the relevant literature. Rather, our primary objective here is to offer some theoretical reflections from a Marxian political economy perspective, on the above-noted concerns. The first section locates the GVSs within the longue duree of capitalist development; the second section provides a brief overview of the characteristics of contemporary GVSs and its implications for developing countries.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Amin, S. (1974). Accumulation on a world scale. Monthly Review Press.
Amin, S. (1997). Capitalism in the age of globalisation: The management of contemporary society. London: Zed Books.
Bairoch, P. (1995). Economics and world history: Myths and paradox. University of Chicago Press.
Baran, P. (1957). The political economy of growth. Monthly Review Press.
Barnet, R., & Muller, R. (1974). Global reach: The power of multinational corporations. Simon and Schuster.
Basu, K. (2016). Globalization of labor markets and the growth prospects of nations. Journal of Policy Modelling, 38(4), 656–669.
Bukharin, N. (1929 [1950]). Imperialism and the world economy. Merlin Press.
Dünhaupt, P., Herr, H., Mehl, F., & Teipen, C. (2020). Opportunities for development through integration in global value chains? A cross-sectoral and cross-national comparison. IPE Working Paper 140/2020, Berlin School of Economics and Law, Institute of International Political Economy, Berlin.
Frank, A. G. (1967). Capitalism and underdevelopment in Latin America. Monthly Review Press.
Fukuyama, F. (1992). The end of history and the last man. The Free Press.
Hopkins, T. K., & Wallerstein, I. (1986). Commodity chains in the world-economy prior to 1800. Review, X, 157–170.
Hymer, S. (1970). The efficiency (contradictions) of multinational corporations. The American Economic Review, 60(2), 441–448.
Hymer, S. (1979). The multinational corporation. Cambridge University Press.
ILO. (2016). Value chain development for decent work: How to create employment and improve working conditions in targeted sectors. International Labour Organization.
Jha, P., & Chakraborty, A. (2014). Post fordism, global production networks and implications for labour: Case studies from national capital region, India. Institute for Studies in Industrial Development.
Jha, P., & Chakraborty, A. (2016). Global production networks and the labour process. In D. Nathan, M. Tiwari, & S. Sarkar (Eds.), Labour in global value chains in Asia (pp. 398–420). Cambridge University Press.
Jha, P., & Yeros, P. (2019). Global agricultural value systems and the south: Some critical issues at the current juncture. Agrarian South: Journal of Political Economy, 8(1–2), 14–29.
Jha, P., & Yeros, P. (2021). Labour questions in the south: Back to the drawing board, yet again. In P. Jha, W. Chambati, & L. Ossome (Eds.), Labour questions in the global south. Springer.
Lenin, V. (1917). Imperialism, the highest stage of capitalism. https://www.marxists.org/archive/lenin/works/1916/imp-hsc/. Accessed 15 Aug 2021.
Luxemburg, R. (1913 [2003]). The accumulation of capital. Routledge .
Maddison, A. (2007). The world economy (two volumes). OECD.
Marx, K. (1985). Address to the first international, 1967. In K. Marx & F. Engels, Marx and Engels collected works volume 20, 1965–68. Lawrence and Wishart.
Ness, I. (2015). Southern insurgencies: The coming of the global working class. Pluto Press.
Patnaik, P. (2016). Capitalism and its current crisis. Monthly Review, 67(8), 1–13.
Raychaudhuri, T. (1985). Historical roots of mass poverty in South Asia: A hypothesis. Economic and Political Weekly, 20(18), 801–806.
Suwandi, I. (2019, March). Global commodity chains and the new imperialism. Monthly Review. https://doi.org/10.14452/MR-070-10-2019-03_1
Sweezy, P., & Baran, P. (1966). Monopoly capitalism: An essay on American economic and social order. Monthly Review Press.
UNCTAD. (2013). Global value chains: Investment and trade for development. United Nations.
UNIDO. (2021). World manufacturing production report. United Nations Statistical Division.
Xu, Z. (2021, March 1). The ideology of late imperialism. Monthly Review. https://monthlyreview.org/2021/03/01/the-ideology-of-late-imperialism/. Accessed 15 Aug 2021.
Yeros, P., & Jha, P. (2020). Late neo-colonialism: Monopoly capitalism in permanent crisis. Agrarian South: Journal of Political Economy, 9(1), 78–93.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2022 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this chapter
Cite this chapter
Jha, P., Yeros, P. (2022). Contemporary Globalisation and Value Systems: What Gains for Developing Countries?. In: Teipen, C., Dünhaupt, P., Herr, H., Mehl, F. (eds) Economic and Social Upgrading in Global Value Chains. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-87320-2_2
Download citation
DOI: https://doi.org/10.1007/978-3-030-87320-2_2
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-030-87319-6
Online ISBN: 978-3-030-87320-2
eBook Packages: Economics and FinanceEconomics and Finance (R0)