The Law Of Worldwide Value / Edition 2

Paperback (Print)
Buy New
Buy New from
Used and New from Other Sellers
Used and New from Other Sellers
from $12.53
Usually ships in 1-2 business days
(Save 34%)
Other sellers (Paperback)
  • All (8) from $12.53   
  • New (4) from $13.71   
  • Used (4) from $12.53   


In this extensively revised and expanded edition of the 1978 classic, Samir Amin suggests new approaches to Marxian analysis of the crisis of the late capitalist system of generalized, financialized, and globalized oligopolies following on the financial collapse of 2008.

Considering that Marx’s Capital—written before the emergence of imperialism as a decisive factor in capitalist accumulation—could provide no explanation for the persistent “underdevelopment” of the countries of the “global South,” Amin advances several important theoretical concepts extending traditional Marxian views of capitalist evolution. Most strikingly, he proposes adding to the model of reproduction in Volume II of Capital a Third Department of Production devoted to surplus absorption and explores the concept of “imperialist rent” by extending the Marxian “law of value” in the form of a new “law of globalized value.”

Amin sees the present crisis as a moment in the second long crisis of the capitalist system, dating from the early 1970s (the first long crisis, he maintains, lasted from 1873 until 1945). He sees no exit from repeatedcrises under capitalism except the descent into barbarism. The challenge is not to escape from the crisis of capitalism—a hopeless project—but to escape from capitalism in crisis. And Amin reasserts his historical optimism as to the socialist project, expecting a “second wave” of socialist attempts that will stem from the self-liberating efforts of the nations and peoples of the South and will lead to an awakening of the Northern popular classes to join the awakening of the global South. This book has an important place among the theoretical resources for anyone involved in the study of contemporary Marxian economic and political theory.

Read More Show Less

Editorial Reviews

From the Publisher
“A substantial contribution to Marxist analysis . . . without a doubt a significant advance.”
Read More Show Less

Product Details

  • ISBN-13: 9781583672334
  • Publisher: Monthly Review Press
  • Publication date: 12/1/2010
  • Edition description: Reprint
  • Edition number: 2
  • Pages: 146
  • Sales rank: 1,386,292
  • Product dimensions: 5.50 (w) x 8.50 (h) x 0.34 (d)

Meet the Author

Samir Amin was born in Egypt in 1931 and received his Ph.D. in economics in Paris in 1957. He is director of the Third World Forum in Dakar, Senegal. His numerous works include Eurocentrism: Second Edition, The World We Wish to See, The Liberal Virus, Accumulation on a World Scale, Unequal Development, and Spectres of Capitalism.

Read More Show Less

Table of Contents

Introduction to the English Edition 9

Chapter 1 The Fundamental Status of the Law of Value 15

1 An Illustration with a Simple Model of Accumulation 18

2 Realization of the Surplus Product and the Active Function of Credit 22

3 Given the Hypothesis of Unchanging Real Wages, Is Accumulation Possible? 23

4 From Prices of Production to Market Prices 28

5 The Unavoidable Detour by Way of Value 30

6 Is an Empiricist Approach to Accumulation Possible? 33

7 Sraffa's Schema 33

8 Economic Laws and the Class Struggle 44

9 Is the Law of Value Outdated? 50

Annex to Chapter 1 An Algebraic Model of Expanded Reproduction 55

Chapter 2 Interest, Money, and the State 61

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star


4 Star


3 Star


2 Star


1 Star


Your Rating:

Your Name: Create a Pen Name or

Barnes & Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation


  • - By submitting a review, you grant to Barnes & and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Terms of Use.
  • - Barnes & reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)