Understanding development in a Global Value Chain World: Comparative Advantage or Monopoly Capital Theory?
The recent period of globalisation–following the collapse of the Eastern bloc and the integration of China into the world economy–is in essence the period of global value chains (GVCs).
What might socialist development look like? Mainstream conceptions of development deem capital accumulation the bedrock upon which to achieve human development. In these conceptions of change, labouring classes are regarded as fuel for the development motor, which in turn justifies their exploitation and oppression. In contrast, how would a non-exploitative socialist development strategy be operationalised? This article advances a 10-point plan for sustainable socialist transformation.
1. Introduction Capitalist development is based upon labour exploitation and environmental destruction. Through sexism and racism it has established second class citizens who are doubly-exploited. Democracy under capitalism is of the ‘low-intensity’ variety—where decision over economic resource generation and use are off-limits to the majority of the population, and where political systems facilitate the (mis)representation […]