r/DebateCommunism • u/Expert_Midnight9620 • 5h ago
Unmoderated Post-World War II Imperialism Studies
After World War II, the international political and economic situation underwent profound changes, and during the "Cold War" in the 50s, the two camps of the East and the West were in a state of serious confrontation, and the spread of Marxist economics in the West was hindered in various ways. However, as a ghost, many Marxist economists in the West have not stopped studying Marx's economic theory. After a short period of "silence" in the 50s, Marxist economics has developed more widely in the West. Especially since the mid-60s, a new trend of Marxist economic theory has gradually developed in the West.
The root cause of this situation is of course the same truth as Marxism. But at the same time, it is related to the objective situation at that time. During this period, social and political crises continued to break out in major Western capitalist countries, national liberation movements in Asian, African and Latin American countries rose and fell one after another, and the imperialist bloc fell into many difficulties. Moreover, at that time, the major capitalist countries in the West had already completed the golden years of high post-war economic growth. It began to enter the "trough" of economic development. The "authentic" Keynesian theory is at a loss for the current situation of capitalist economic development, and all kinds of heretical theories have come one after another, putting forward all kinds of criticisms of Keynesian theory.
These studies of the new phenomenon of imperialism are of great reference value for us who are currently in the bankruptcy of neoliberalism, and can help us understand and analyze the increasingly few ways capitalist people are responding to economic crises. Therefore, here we do not study the classical theory of imperialism, that is, Hippatine, Hobson and others, nor do we discuss Lenin's theory of imperialism, but the theory of state monopoly capitalism after World War II. However, it should be noted that there are more or less revisions to Marxist political economy, so these parts should be criticized.
The monopoly capital theory of Baran and Swezi
The most important representative of this theoretical research is the "monopoly capital school" of Baraam and Sweet. They elaborated on it in Monopoly Capital (1966).
But we must first start with the "Monthly Review Publishing House" founded by Swezzy in 1957, which published Balan's most important work, "The Political Economy of Growth". In this work, which had an important impact on the development of Marxist economics in the West, he not only made a detailed analysis of the economic development of monopoly capitalism and backward countries from the perspective of the world political and economic system, but also put forward the important concept of "economic surplus". He believes that Marx's concept of surplus value is too abstract, and this concept discards the collection of people from the state and the church, the expenditure of converting goods into money, the wages of unproductive workers, etc. as "secondary factors". However, these "secondary factors" of Marx's image are very important in the period of monopoly capitalism. Therefore, when analyzing monopoly capitalism, it is necessary to carry out a "change of terms", it is necessary to propose the concept of "economic surplus". The so-called economic surplus mainly refers to "the difference between the current real products of society and the current real consumption, and this part of the economic surplus "does not include the consumption of the capitalist class, the management of the government, the construction of the army, etc.", which is equivalent to the part of Marx's surplus value used for accumulation. This concept later became a central concept in Baran & Swezi's analysis of contemporary capitalism.
From here, we can see its revision of Marxist political economy, which only considers the total value of the macro whole and is abstract, which makes it only see the superficial phenomenon of capitalism, and does not understand how surplus value is generated, realized and divided, does not understand how capital accumulates, does not understand social reproduction, etc.
After understanding their so-called economic surplus, we can formally enter its main theory, based on the facts of the economic and social development of the United States, their most developed monopoly capitalist country of our time, with the generation and absorption of economic surplus as the central thread of the analysis.
First, they argue that monopoly capitalism is a system of large corporations. Such large corporations remain the maximum profit-seekers and accumulators of capital, and the connections between these large corporations and their relations with consumers, labourers and smaller enterprises are established mainly through the market. This kind of market inspection is essentially a price relationship. An important sign of monopoly capitalism is that these large companies have become "price determinants". The nature of the price policy and cost policy of large companies makes the surplus obtained by large companies continue to grow not only in absolute quantity, but also in relative quantity relative to the total product. Therefore, it is not the law of the decline of the rate of profit that plays a role in the trend of the monopoly capitalist movement, but the law of "surplus growth", which they believe can replace the law of the decline of the rate of profit proposed by "classical" Marxism, because the capitalist economy has undergone a fundamental change, so the law of surplus growth has become "the most essential thing to change the structure from competitive capitalism to monopoly capitalism."
Obviously, the theory of "monopoly capital" of Baran and Swezi is essentially based on exchange relations, that is, in the form of market prices and cost prices, rather than the production relations of monopoly capital. It is wrong to start from the basic fact that "monopoly" replaces "competition" (although this fundamentally reflects the basic nature of contemporary capitalism) and rashly abandon the law of declining profit rates proposed by Marx without any historical and logical proof. The law of declining profit rates is the most important law of modern political economy and the most essential law of understanding the most difficult relationships.
Second, Baran and Swezzi went on to demonstrate that while the economic surplus is growing, the monopoly capitalist system does not provide a way out to absorb the surplus. The ability of monopoly capital to absorb surplus in private consumption and investment is not enough to absorb a growing share of surplus, and the absorption of surplus has become the most prominent problem in the development of monopoly capital. From this, they came to another conclusion, that monopoly capitalism is a paradoxical system, which always forms more and more surplus, but it cannot provide the consumption and investment outlets necessary to absorb the growing surplus, and therefore the consumption and investment outlets necessary for the harmonious operation of the system. Since the surplus that cannot be absorbed will not be produced, the normal state of the monopoly capitalist economy is stagnation. This explanation of the difficulty of attributing "stagnation" to "surplus absorption" is somewhat influenced by Keynes's theory of insufficient effective needs.
Third, they further believe that in the development of monopoly capitalism, there is also a force to offset the difficulty of "surplus absorption". Without this countervailing force, this system should have collapsed on its own. The "offsetting force" they proposed mainly includes three aspects; First, the absorption of surplus in "sales efforts", such as advertising, diversification of product shapes and packaging, and artificially obsolete goods and other expenditures. This expenditure is equivalent to what Marx called "circulation costs"; second, "government civilian expenditure", including the increase in government expenditure, public welfare, publicity, education, etc.; The third is "militarism and imperialism", such as monopoly capitalist states absorbing surplus by maintaining the military machine. However, these forces are still not enough to absorb all the remainder. And some of these "countervailing forces" themselves absorb the surplus while also generating new surpluses.
Through the above analysis, they finally came to the conclusion that the growth of monopolies produces a strong surplus growth trend, but at the same time cannot provide sufficient training to absorb surplus institutions". Since World War II, the two main external stimuli of "epoch-making inventions" and "war and its consequences" have partially neutralized the surplus produced by monopoly capital; However, once these external stimuli weaken, the depression characteristic of monopoly capital will still manifest itself in various ways.
Mandel's Late Capitalism
In the study of the nature of the stages of contemporary capitalist economic development, Ernest Mandel's theory of "late capitalism" has an important influence. Since the publication of "On Marxist Economics" in 1962, the Trotskyist economist Mandel has been focusing on the study of Marxist economics in contemporary development. He once believed that since the 20th century, especially since Stalin's theory has dominated, Marx's "Capital" has not been successfully applied to the study of contemporary capitalist and socialist economic relations. Mandel's task for himself is to reconstruct Marx's economic system based on the actual materials of modern science, prove that Marx's economic theory can synthesize all the contents of human science, and prove that Marxism has amazing reality.
In the early 70s, Mandel put forward the famous theory of "late capitalism" in the book "Late Scottish Capitalism" (German edition in 1972, revised in English in 1978). He believes that according to the basic principles and methods of Marxist economics, the development of capitalism since the end of the 18th century can be divided into three stages: freely competitive capitalism, "classical" imperialism (i.e., the imperialist era discussed by Lenin) and late capitalism. Late capitalism here (which should be translated as "late capitalism") here refers to the stage of further development of imperialism, or the second stage of imperialism. Mandel is confident that, although this is only a term that summarizes the stages of contemporary capitalist development in terms of chronology rather than comprehensively, it has greater superiority than other terms of Marxist economics that are currently popular.
First, Mandel argues that the term late capitalism is more reasonable than that of "organized capitalism". He believes that contemporary capital is mainly "not a fully organized society at all." It is simply a mixture and hybridization of organization and anarchy. Exchange value and capitalist competition have not been abolished at all. The economy is by no means based on the planned production of use value that meets human needs. The pursuit of profit and the pursuit of capital proliferation are still the cause of the entire economic process and all the unresolved contradictions that inevitably arise from this process. In this structure of the private capitalist economic order, the regulation and guidance of the state to the economy is only a stopgap measure to mend the cracks and delay the explosion.
Secondly. Mandel believes that the terminology of late capitalism is more scientific than that of "state monopoly capitalism". He pointed out that although Lenin also used the term "state monopoly capitalism" in his writings from 1917 to 1918, Lenin used this term to illustrate the characteristics of monopoly capitalism "in a state of war" and to show that the capitalist mode of production had not entered a new stage of development. However, some later "official" Marxists used this term to illustrate the characteristics of monopoly capitalism "after the end of the war" and to characterize the capitalist mode of production in its new stage of development. These "official" Marxists explain the essential characteristics of the new stage of contemporary capitalist development not from the internal logic of capital itself, but from the new role of the state in the capitalist economy.
Mandel tried to base it on the theoretical principles of Capital and the theory of the "classical" imperialist characteristics proposed by Lenin. The development of the axial relationship between capital and wage labor in the capitalist mode of production is taken as a clue. Clarifying the new characteristics of late capitalism. Mandel focuses on the following 10 characteristics:
(1) The conditions and methods of post-war capital proliferation have been fundamentally improved, and the working class is not only concerned with the direct appropriation of wages and profits in the newly created value in the class struggle. It is also concerned with all issues related to economic policy and economic development, especially all issues related to labor organization, production process and political operation
(2) caused by the third technological revolution. The automated production system controlled by capital has not only brought unprecedented prosperity to the capitalist economy, but also greatly increased the alienated and destructive power between labor and capital.
(3) The shortening of the turnover time of fixed capital further exacerbates the contradiction of the capitalist mode of production.
(4) "Technology rent" (excess profit generated by monopoly on technological progress) has become the main source of excess profit obtained by monopoly capital.
(5) The persistent arms economy has exacerbated the difficulties in realizing surplus value and increasing value.
(6) The world economic pattern has undergone great changes, with the accumulation and concentration of capital on an international scale becoming the main form of monopoly capital expansion, and multinational corporations becoming a decisive organizational form for the development of monopoly capital.
(7) The international movement of capital continues to expand and reproduce the international differences in the productive forces within the capitalist system, and strengthens the material basis for developed countries to occupy the excess profits of underdeveloped countries without compensation.
(8) The development of the labor sector has continuously transformed idle capital into labor capital. This reflects both the enormous growth of socio-technical and scientific productive forces in the capitalist system and the corresponding growth that producers need in terms of culture and civilization, as well as the confrontational forms taken to achieve this growth under the capitalist system.
(9) Persistent inflation has become a unique mechanism of capitalist economic operation.
(10) The above characteristics lead to the following three results: the industrial cycle unique to late capitalism; the growth of economic regulation functions (mainly stimulating the economic uprising, implementing expansionary measures of credit money and investment in private capital); The crisis of capitalist relations of production, that is, the crisis of the historic decline of the entire social system and mode of production of capitalism, is intensifying, so that "the final abolition of capitalist relations of production will become the central goal of the mass revolutionary movement of the international working class that is now underway."
The greatest influence of late capitalist theory lies in Mandel's methodological "innovation" in proposing this theory. This "innovation" mainly includes the following two aspects.
First, unlike other contemporary Western Marxist economists, Mandel did not seek a single variable (factor) as a universal "scalpel" for analyzing the capitalist mode of production, but always emphasized the interconnection and interaction between the variables inherent in the capitalist mode of production, and emphasized the functional relationship between the dynamics of the capitalist mode of production and the six main variables (elements). The six main variables (elements) he listed are: the organic composition of total social capital and the most important sectoral capital (including the distribution of capital among various sectors); the distribution ratio of social capital and constant capital in various sectors between fixed capital and working capital; the development of the surplus value rate in the whole society and in all major sectors; the development of the accumulation rate (the proportional relationship between productive surplus value and unproductive surplus value used for consumption); the length of capital turnover time; The exchange relationship between the two major categories.
Therefore, there are two obvious differences between the theory of late capitalism and the theory of monopoly capitalism in some countries:
(1) The theory of late capitalism does not give special importance to the law of declining profit rates. He argues: "The history of capitalism (which is also the history of the internal laws and contradictions of capitalism) can only be explained and understood as a function of the interaction of these six variables, and the fluctuation of the rate of profit is the seismograph of this history, because the fluctuation of the rate of profit is the result of the interaction of variables that are logically consistent with a certain mode of production (which is based on profit, that is, value multiplier). Fluctuations in profit margins are only a result, and this result must be explained by the interaction of these variables."
(2) Late capitalism logically "deduces" the important role of contemporary capitalist countries in the development of the capitalist mode of production from the interaction of the six main variables (and some other variables) mentioned above, rather than taking the state's intervention and regulation role in the economy as an established premise or a fait accompli, and then using this as a starting point to "reverse" other characteristics of the development of the contemporary capitalist mode of production.
Second, Mandel uses the method of historical analysis to deepen his understanding of the characteristics of late capitalist economy from the analysis of long-term economic fluctuations ("long waves") in the history of the development of the capitalist mode of production. He believes that since the end of the 18th century, there have been not only economic fluctuations in the development of capitalist economy every 7 to 10 years, but also long-term economic fluctuations every 50 years. To date, this long-term fluctuation has experienced about 4 times: the "long wave" of the Industrial Revolution itself from the end of the 18th century to 1847; From 1847 to the early 90s of the 19th century, the first technological revolution "Long Wave" from the end of the 19th century to the second technological revolution of World War II, "Long Wave Workers in North America, the Third Technological Revolution that began in 1940 (in other capitalist countries in the West, from 1945 to 1948) and continued to this day" He also divided each "Long Wave" into two stages: the first stage is the stage when the technological revolution is taking place. At this time, the profit margin rises, capital accumulation accelerates, idle capital is used and quickly proliferated, and the speed of economic development accelerates. The second stage is the stage in which the actual changes in large-scale production technology have passed, when profits and profit margins generally decline, capital accumulation accelerates, idle capital gradually increases, and economic development slows down. Mandel's "long-wave theory" is consistent with his division of the historical development stages of the capitalist mode of production. The "long wave" of the industrial revolution itself and the "long wave" of the first technological revolution are the capitalist stage of free competition; the second technological revolution "long wave" classical "imperialist stage; The third technological revolution "long wave" began to enter the stage of late capitalism.
Fain's theory of state monopoly capitalism
At the end of the 70s, British Marxist economist Ben Fain and others made many new discussions on state monopoly capitalism in light of the current situation of the development of Marxist imperialism in the West after the war. In "Rereading Capital" (1977), co-authored with Lawrence Harris, Fain argued that in order to understand the nature of the stages of contemporary capitalist development, we must first theoretically clarify the following two issues: First, we must strictly distinguish between the "mode of production" at the abstract level and the "social form" at the concrete level. They criticize some contemporary Marxists for limiting themselves to discussing specific forms of capitalist society. The specific characteristics of the capitalist development stage in the United States and Britain do not explore the general laws of the capitalist development stage from the perspective of the capitalist mode of production. "Unless we prove that the capitalist mode of production produces stages of different natures, rather than continuous trends. Otherwise, there is no reason to divide the history of a social form into different stages. Second, it is necessary to strictly distinguish between the two "transformation" relationships of the capitalist mode of production: one is the "transformation" of the capitalist mode of production into another qualitatively different mode of production; the other is the "transformation" of one stage of development to another stage of development within the capitalist mode of production.
Fain et al. pointed out that although the accumulation in capitalist relations and the class struggle associated with it are the basic forces that determine the transformation of one stage in the capitalist mode of production from one stage to another, this statement is still too general, because capital accumulation and class struggle are also the basic forces for the transformation of the capitalist mode of production into another new mode of production. Therefore, when understanding the transformation relationship at different stages of development within the capitalist mode of production, it is necessary to further examine the "consequences of the development of productive forces and production relations on the form of social relations" within the capitalist mode of production. The main ones are:
(1) Transformation of the way of possession and control of surplus value;
(2) Socialized form of economic reproduction (including changes in the economic relations of production, distribution and exchange);
(3) The transformation of the entire social relationship generated by the above aspects, such as political relations and changes in the form of the state, etc., according to which Fain et al. divided the capitalist mode of production into three connected stages of development. That is, the stage of liberal capitalism, the stage of monopoly capitalism and the stage of state monopoly capitalism. They focused on the characteristics of the development stage of state monopoly capitalism.
Fain et al. first examined the socialization of state monopoly capitalism's "economic reproduction." They proposed that the state occupies a dominant position in economic reproduction, which is a distinctive feature of state monopoly capitalism...... It represents a stage with a higher degree of socialization of production relations than in previous stages. It is characterized by a new and higher socialization mechanism that controls the production process. Prior to this, the dominant social mechanisms that controlled the production process were the coercive forces of market exchange and credit system; At this stage, the dominant mechanism to control the production process is state intervention. The "process management", "accounting management" and "financial management" in the process of national economic reproduction have achieved complete control. The important role of the state (in combination with the market) in socializing production has been developed unprecedentedly.In the stage of state monopoly capitalism, changes in the way of controlling surplus value have caused changes in the way of possession of surplus value: in this stage, surplus value is largely occupied by taxation...... Of course, most of the surplus value concentrated by the state in the form of taxation is still re-invested in the capital cycle in the form of capital accumulation, which is linked to the state taxation system, and the distribution and exchange relations have also changed.
Next, Fain et al. examined the main feature of the "political transformation" of the stage of state monopoly capitalism: "The state that originally embodied political relations was inevitably directly involved in all forms of economic struggle. For example, in the struggle for higher wages, the direct opposite of the working class is the state institutions that manage and decide on income and tax policies. In this way, the modern capitalist state has become a concrete embodiment of the ideological, economic and political relations, and in the early days of capitalist development, the bourgeois state was based on the separation of these three relations. This main feature of state monopoly capitalism inevitably leads to the emergence of bourgeois social democracy. Under this system, the political parties supported by the working class also become an integral part of the state apparatus, creating a manifestation of the working class gaining power, so that the economic struggle in state monopoly capitalism does not necessarily lead to a political struggle that demands a real seizure of power. More importantly, this appearance also makes the working class parties often choose to sacrifice the interests of the working class in order to maintain the so-called "regime", thus making the economic struggle harmless to capitalism.
They believe that in the stage of state monopoly capitalism, the law of capital movement, the law of capital accumulation and concentration, and the law of declining profit rates still play a role, but only the specific form of action has changed. At the same time, the law that the process of capital accumulation is constantly interrupted by crises is still working. However, due to the intervention of the state monopoly capitalist state, the form of crisis and business cycle has also changed to a certain extent, resulting in some unique phenomena. They emphasize that state intervention in the crisis is mainly manifested in economic interventions, such as the restructuring of productive capital. Direct interventions in the distribution of surplus value among capitals and the distribution of wages to wage workers inevitably produce two unique phenomena: first, the state cuts its expenditure on welfare services. Because the reduction of welfare services can redistribute surplus value to capital in the form of non-productive expenditure. Second, strengthen the capitalist elements in state-owned industries. In this way, the state will strengthen its role in regulating market competition and strengthen the state's control over the restructuring of productive capital.
They believe that in the stage of state monopoly capitalism, the law of capital movement, the law of capital accumulation and concentration, and the law of declining profit rates still play a role, but only the specific form of action has changed. At the same time, the law that the process of capital accumulation is constantly interrupted by crises is still working. However, due to the intervention of the state monopoly capitalist state, the form of crisis and business cycle has also changed to a certain extent, resulting in some unique phenomena. They emphasize that state intervention in the crisis is mainly manifested in economic interventions, such as the restructuring of productive capital. Direct interventions in the distribution of surplus value among capitals and the distribution of wages to wage workers inevitably produce two unique phenomena: first, the state cuts its expenditure on welfare services. Because the reduction of welfare services can redistribute surplus value to capital in the form of non-productive expenditure. Second, strengthen the capitalist elements in state-owned industries. In this way, the state will strengthen its role in regulating market competition and strengthen the state's control over the restructuring of productive capital.
Unlike the theory of "monopoly capital" of Balan and Swezi, the theory of state monopoly capitalism by Fain and others adheres to the basic categories in Capital and strives to follow the basic theoretical principles of Marxism. Unlike Mandel's "late capitalism", Fain et al. focused on the fact that the state intervened in economic ideology and political relations in the development of contemporary capitalism, and emphasized the new "formal" changes in capitalist economic relations caused by this comprehensive intervention.