On the Bookshelves: “A critique of Luxemburg’s Theory of Accumulation”

Contribution to a discussion on Marx’s accumulation and crises theory of Capitalism

PS 2021 - frontcover

Bibliographic data: Phil Sutton, A Critique of Luxemburg’s Theory of Accumulation. Independently published, 30 May 2021. Paperback, 98 pages. ISBN-13: 979-8733143033. Per copy: £6.23 Ordering information via Amazon-UK.

Back-cover text

«From: The Accumulation of Capital by Rosa Luxemburg (1913):

“Capital accumulation progresses and expands at the expense of non-capitalist strata and countries, squeezing them out at an ever faster rate. The general tendency and final result of this process is the exclusive world rule of capitalist production. Once this is reached, Marx’s model becomes valid: accumulation, i.e. further expansion of capital, becomes impossible. Capitalism comes to a dead end, it cannot function any more as the vehicle for the unfolding of the productive forces, it reaches its objective economic limit.”

This pamphlet critically investigates how Rosa Luxemburg justifies her theory of the accumulation of capital and whether the events of the last century of capitalist development confirm or deny her theory.»

Read the Author’s Introduction & the Table of Contents

Topic: Has Capitalism entered its Decadence since 1914? (III)

The Falsehoods of the International Communist Current (ICC) — A critique

Chapter 3: The national question before and after 1914

Extract: “Certainly, the productive forces have developed with the industrial revolution that began in the countries of Western Europe and North America. However, were we witnessing “a step forward in the development of the productive forces on a world scale before 1914? Not at all, because the first Euro-American countries would limit this development to their geographical area and de-industrialize the rest of the world, destroying all potential for competing economic growth, as the study on the 250 years of capitalism that we have republished clearly shows. To this we add the very telling graph [above], whose data confirm this observation, since in 1750, 80% of industrial production was located in the world outside Western Europe and North America and only 20% in the latter two areas, whereas after a century and a half of ‘capitalist ascendancy’ (1750-1913), we are witnessing a spectacular geographical inversion in this distribution, as production had become almost exclusively concentrated in the Euro-American area (84%) to the detriment of the rest of the world (16%)! In other words, the development of productive forces following the industrial revolution, far from being “a step forward in the development of the productive forces on a world scale…”, remained confined to the Euro-American area to the detriment of the rest of the world. Once again, the reality is strictly the opposite of the idealistic postulates of the ICC. This divergence in geographical evolution is at the origin of the economic bi-polarization of the world between the so-called Developed Countries and what will later be called the Third World.”

 

Click here to read the complete chapter.

 

Graph 3.1: Distribution of the Manufactured Production in the World (1750 – 1913)

Source: Les mondes insurgés, Altermanuel d’histoire contemporaine , Ed. Vuibert, p. 13.
The data come from: Paul Bairoch, ‘International industrialization levels from 1750 to 1980’ ,
published in The Journal of European Economic History, n°11, 2, 1982.]

Topic: Has Capitalism entered its Decadence since 1914?

The Falsehoods of the International Communist Current (ICC) — A critique (Ch.1 & 2)

The following contribution challenges a fundamental programmatic position shared by several groups of the contemporary communist Left, in continuity with the beginnings of the III. (or Communist) International, namely that capitalism has entered its phase of decline as an historical mode of production since the outbreak of World War 1. It does so following the method that Marx applied in his (unfinished) magnum opus ‘Capital’, comparing the evolution of capitalism before and since 1914 at the hand of documented empirical data. These are summarized in a series of graphs and contrasted with the affirmations by one of the most outspoken protagonists of this position.

Continue reading “Topic: Has Capitalism entered its Decadence since 1914?”