Capitalism and Underdevelopment in Latin America

Business & Money

Frank, Andre G.

Economics

Monthly Review+press

Why, while Europe, North America, and Australia have developed, have Africa, much of Asia, and Latin America remained underdeveloped? Andre Gunder Frank sets out to answer this basic question by showing how world capital accumulation has led to the differentiation of these regions within the single world-embracing economic system. Unequal exchange between regions, combined with the differential transformation of productive, social, and political relations within regions, has led to the capitalist development of some areas and to the underdevelopment of others.

Dependent Accumulation and Underdevelopment

Most of Andre Gunder Frank's early work on the nature of underdevelopment focused on one continent: Latin America. Here he broadened his canvas and traced the world-wide effects of the process of capital accumulation from the period just prior to the discovery of America to the industrial and French revolutions. It is Frank's thesis that "the world has experienced a single all-embracing, albeit unequal and uneven, process of capital accumulation centered in Western Europe," which has been capitalist for at least two centuries.

World Accumulation, Fourteen Ninety-Two to Seventeen Eighty-Nine

Dynamics of Global Crisis

Examinations of the world economic, political, and social problems include analyses of the expansion of capitalism, decline of the power of the United States, and the development of socialism

Amin, Samir

WALLERSTEIN, Immanuel

Arrighi, Giovanni

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