Re: [OPE-L] Reply to Rakesh

From: Rakesh Bhandari (bhandari@BERKELEY.EDU)
Date: Mon Oct 09 2006 - 10:30:41 EDT

won't be replying to this 'reply'. Thanks for the 'dialogue'

>I think Marx completed, at least in manuscript form, the analysis of capital
>in general which he projected, because - as I quoted - he considered that it
>was most important to get clear about the social meaning of capital, that
>was the priority, and from that all else followed. His book is indeed called
>"Das Kapital".
>The theory of foreign trade would presumably discuss the principles of that
>trade, which followed from the analysis of the capitalist mode of production
>and the theory of value. Initially, from the 16th century up to the 19th
>century - foreign trade had fueled original accumulation, but the
>development of capitalist production created new principles of foreign
>trade. Presumably Marx would have wanted to criticize the theories of
>foreign trade and colonialism by the political economists, in terms of how
>that trade actually occurred and who benefited from it, distinguishing
>between trade in money and capital and trade in commodities.
>For a useful study of the theories of the political economists, see e.g.
>Donald Winch, Classical political economy and colonies (1965) and by the
>same author, Riches and poverty : an intellectual history of political
>economy in Britain, 1750-1834 (1996).
>The theory of the world market would presumably empirically analyse the
>world economy in its real totality, i.e. the relations between nations who
>are increasingly integrated into a world market, and what the dynamics
>behind their trade were. (In 1900 Franz Mehring partly attempted to sketch
>such an analysis, in an article in Vorwärts, titled "Weltkrach und
>Weltmarkt. Eine weltpolitische Skizze"["World crash and world market. A
>worldpolitical sketch"). There were also various debates in the journal Die
>Neue Zeit.
>However, when Marx lived, the available data he could use for this were
>sparse. Many West European as well as US official institutions provided some
>estimates of exports and imports of goods, national income estimates as well
>as data on currency exchange, but there were no integrated accounts of
>national and international capital and currency flows. Consequently the
>world market project was in a sense beyond Marx at that time, even if he had
>had the time for it - he got as far as journalistic analyses (about 24
>articles or so) and letters on the topic.
>In the 1970s and 1980s, there was a spate of Marxian analyses of the world
>market by Prokla authors like Busch, Neususs, Kohlmey, Schoeller, Seelow,
>Tiegel, Altvater and so on, but their work was never translated into

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