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A Marxist Ana[ysis colonialism, and for this reason quickly came under attack from the supporters of the nationalist movements that spread so rapidly around the underdeveloped world. This criticism was soon generalised against an even more fundamental proposition of orthodox theory, that underdevelopment was an original condition for which capitalism could not be held responsible. By the mid-sixties a whole school of radical development economists had emerged which held the opposite view. Glaring inconsistenCies in orthodox theory were brought to light and historical studies were produced to show how important capitalist penetration had been. But this is as far as it went. As none of the major works produced by this school was firmly based on the law of value which Marx discovered and elaborated, little progress could be made beyond this point. The radical critics of orthodox development theory were so keen to prove the ideological point that underdevelopment was the product of capitalist exploitation, that they let the crucial issue pass them by: capital created underdevelopment not because it exploited the underdeveloped world, but because it did not exploit it enough. I have wri

Who reads Development and Underdevelopment: A Marxist Analysis?

Author

Geoffrey Kay (auth.)

Publisher

Palgrave Macmillan UK

Published

1975

Language

EN

ISBN

9781349020621

Category

nonfiction

Subjects

Business, Political Science, Economics