The Politics of World Capital Accumulation

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Abstract
In the center countries, high levels of consumption and high wages encourage transnationalization and the transfer of capital to the low-wage peripheral countries, a process which is supported by authoritarian Third World States. Institutionalized repression in Third World countries takes diverse forms: the elimination of trade unions, the curtailment of civil liberties, the consolidation of traditional methods of political repression as well as the enforcement of economic repression involving sub-subsistence wages. In the center capitalist countries, new mechanisms of political integration and control of peripheral of countries have been developed to replace those used during the colonial mercantile period. The type of austerity measures recommended by the International Monetary Fund is only one example of such control. The bipolarity of the international division of labour, the underdevelopment of peripheral agriculture, the dualization of markets in the periphery and the functional integration of the traditional sector into the peripheral capitalist economy are all outcomes of this process of transnationalization.

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