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Marx on Colonization and Bonded Labor: The End of Capital and the Beginning of a Journey

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  • David McNally

Abstract

The concluding chapter of Karl Marx’s Capital (volume 1) has received remarkably little scholarly commentary. This is especially surprising as Marx addresses there “the modern theory of colonization†developed by Edward Gibbon Wakefield. But rather than systematically pursue the issue of colonialism, Marx investigates Wakefield’s theory in order to illuminate the processes of primitive accumulation (or “originary dispossession†) that gave birth to capitalism in Europe. This article suggests directions in which Marx ought to have gone in order to analyze the globalization of capitalism outside of Europe by means of colonialism. In so doing, it proposes the need to recenter bondage, slavery, colonialism, and racism as constitutive elements of capitalism as a global system. JEL Classification: B51, N3, P1

Suggested Citation

  • David McNally, 2024. "Marx on Colonization and Bonded Labor: The End of Capital and the Beginning of a Journey," Review of Radical Political Economics, Union for Radical Political Economics, vol. 56(4), pages 461-468, December.
    • Handle: RePEc:sae:reorpe:v:56:y:2024:i:4:p:461-468
    DOI: 10.1177/04866134241269550
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    More about this item

    Keywords

    slavery; capitalist economies; heterodox economics;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • N3 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy
    • P1 - Political Economy and Comparative Economic Systems - - Capitalist Economies

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