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The Internationalisation of Capital and Marxian Value Theory

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  • Bryan, Dick

Abstract

Marxist value analysis has paid little attention to the international movement of capital. This paper contends that there are different but compatible concepts of international capital movement in value theory, which are associated with different meanings of 'capital' in each volume of Karl Marx's Capital. With particular emphasis on a Volume III conception of international prices of production, the paper contends that exchange rates and a nationally determined value of labor power express an underlying contradiction between the internationality of value and the role of the national state in the regulation of accumulation. (c) 1995 Academic Press, Inc. Copyright 1995 by Oxford University Press.

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  • Bryan, Dick, 1995. "The Internationalisation of Capital and Marxian Value Theory," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 19(3), pages 421-440, June.
    • Handle: RePEc:oup:cambje:v:19:y:1995:i:3:p:421-40
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    Cited by:

    1. Dick Bryan, 2001. "Global accumulation and accounting for national economic identity," Review of Radical Political Economics, Union for Radical Political Economics, vol. 33(1), pages 57-77, March.

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