China has become a key player in the African economic landscape. It has been a…
The Economics of the New Phase of Imperialism Prabhat Patnaik
This paper argues that even though “accumulation through encroachment” in the inclusive sense of the term is always an integral part of the process of capital accumulation, so that the pure reign of “accumulation through expansion” is rare and at best transitory, a crucial feature of contemporary imperialism is a vast increase in the relative importance of “accumulation through encroachment”.
economics_new_phase (Download the full text in PDF format)