This preview shows pages 1–3. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: POLI 234 International Politics of Economic Relations 02:22 Lecture 3 (Cont) January 12, 2011 Marxs Model of Capitalism Surplus Value is Generated Concentration Creation of of Capital per Reserve Army of worker labour Crisis of Consumption Falling rate Rise of Class Of profit consciousness Economic Crisis/Revolution Things to notice: 1. 1870s & 1880s Crisis of overproduction/underconsumption Because of globalization o improvements in transportation advancement of the railroad system o Improvements in communication Telegrams Meant more goods were competitive Increased integration of markets Communication allowed producers to know the global prices of goods, and where to send them for the best profit 2. Mar not speaking about international Model includes no mechanism for trade...
View Full Document
- Spring '09