By Conference of Socialist Economists
Read or Download Capital & Class. - 1982. - Issue 16 PDF
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"Economic integration that results in the convergence of earning and dwelling criteria is on the center of the european accession approach. the idea is that alternate integration mixed with institutional harmonization will result in sustainable capital flows from eu Union member international locations to acceding nations .
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Additional resources for Capital & Class. - 1982. - Issue 16
H . Wainwright with D . Elliott, Alison & Busby, forthcoming . 65 Trade Union Strategy in the Face of Corporate Power . 66 For example, State Intervention in Industry, Joint Trades Councils and `Popular Planning for Social Need', Joint Trades Councils and Combines . A . Parsons ; Corporate Plan, Joint Trade Union Committee, Clarke Chapman Ltd . ; Building a Chieftain Tank and the Alternatives, Vickers National Combine Committee of 39 40 CAPITAL & CLASS Shop Stewards ; Alternative Employment for Naval Shipbuilding Workers, Vickers Combine Committee .
20 To summarise : even if the only empirical indicator employed is that of the volume of direct investment abroad (an approach pursued by present-day monopoly theories of imperialism), it is clear that world economic development has passed through a significant turning-point in the last ten years . The phase of world economic stagnation which began in the late 1960's/early 1970's has been, and continues to be, accompanied by a reorganisation of the world economy possessing the following major features : • a worldwide increase in direct investment abroad (with a rising share of overall world production being accounted for by production abroad) ; • a relative weakening of the position of the former dominant investing countries (USA and UK) ; • the emergence of new recipient countries for investment capital (on the one hand the USA ; on the other, areas of the Third World) .
The formulation of capital export as `monopoly raised to a higher power' in reality represents a retreat from the real world `at a higher power' . Conclusion Monopoly-theory's increasing retreat from reality? " As we have shown, this procedure is not only inadequate as an empirical proof of monopoly-theory, but also implies a highly partial approach to the overall reorganisation of the world economy .