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Unformatted text preview: POLI 234 International Politics of Economic Relations 02:22 Lecture 3 (Cont) January 12, 2011 Marx’s 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. 1870’s & 1880’s 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...
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This note was uploaded on 04/28/2011 for the course POLI 243 taught by Professor Markbrawley during the Spring '09 term at McGill.
- Spring '09