By James Doughney The following contribution aims to interrogate commonly held beliefs and assumptions concerning monopoly capital, surplus profits, surplus capital and the export of capital. It will explain that such beliefs are not coherent. The arguments that follow are not empirical, though actual data from France in 2018 shall illustrate their logic and provide source references.
A short summary of the commonly held beliefs with which I am concerned goes something like this: there exist countries in which the dominance of monopoly capital generates aggregate surplus profits but concomitantly limits domestic opportunities for their continued profitable investment. Surplus profits are synonymous with super profits. They accumulate as surplus capital. Pent up surplus capital in these countries thereby tends to generate enormous pressure that finds release in the form of capital exports: that is, investment in the rest of the world, especially in developing countries. Can these beliefs withstand scrutiny? Note that the issue is not whether multinational corporations take advantage of higher offshore returns, potentially greater risk notwithstanding. They do. Nor is it about strategic offshore investments for product market access or to secure supplies of raw materials. Nor does it concern “offshoring” of production. These are part of the quotidian work of profit-seeking enterprises. Rather, the concern of the present contribution is how such everyday occurrences aggregate across economies and, potentially at least, shape global economic and political arrangements. Specifically, is it possible that surplus profits/capital and capital exports might be at the heart of enduring, global economic relationships that define what we have come to call “imperialism”? Continue reading at https://links.org.au/surplus-profits-capital-exports-and-imperialism-interrogation-commonly-held-beliefs-and-assumptions -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#35111): https://groups.io/g/marxmail/message/35111 Mute This Topic: https://groups.io/mt/111082213/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: marxmail+ow...@groups.io Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [arch...@mail-archive.com] -=-=-=-=-=-=-=-=-=-=-=-
