TITLE

The Global Reserve Army of Labor and the New Imperialism

AUTHOR(S)
FOSTER, JOHN BELLAMY; McCHESNEY, ROBERT W.; JONNA, R. JAMIL
PUB. DATE
November 2011
SOURCE
Monthly Review: An Independent Socialist Magazine;Nov2011, Vol. 63 Issue 6, p1
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the ways in which the growth of the global capitalist labor force has altered the imperialistic nature of global capitalism, as represented by powerful multinational corporations, by negatively affecting wages in both developing and wealthy countries. The authors rely heavily on philosopher Karl Marx's theories on the industrial reserve army and capital accumulation, which posit that wealth accumulation will invariably lead to increased suffering for the working masses. They go on to explain the exploitative nature of global labor arbitrage, which essentially means a corporation's benefiting from low wages in developing countries. The process of arbitrage is related to the development of massive global supply chains.
ACCESSION #
66933797

 

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