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The Veins of the South Are Still Open: Debates Around the Imperialism of Our Time

Book by Prabhat Patnaik · 1 quotes · Capitalism, Colonialism, Imperialism

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All Capitalism Colonialism Imperialism British Colonialism Free Trade India Raw Materials Value Of Money

The Veins of the South Are Still Open: Debates Around the Imperialism of Our Time Quotes

“Such an increase in supply price [i.e. raw materials from the Global South], however, creates serious problems for capitalism. These arise not because of a diminishing rate of profit or a slide towards a stationary state as Ricardo had feared. Such fears relate in any case to long-run prospects. Increasing supply price, in so far as it gets translated to an increase in price, undermines the value of money, and that is a very serious and immediate issue for capitalism. If wealth-holders believe that the value of money in terms of commodities is going to fall over time, then nobody will hold wealth in its money-form.”

Capitalism Colonialism Imperialism Raw Materials Value Of Money

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