Capital & Class. - 1991. - Issue 43 issue 43 by Conference of Socialist Economists

By Conference of Socialist Economists

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Extra resources for Capital & Class. - 1991. - Issue 43 issue 43

Sample text

At the same time, the increasingly evident contradictions and inadequacies of the international state system have been counterposed by a renewed internationalisation of social and class movements. One result has been the growth, since the late 1960s, of what has been called ‘international economic soft law’. The best–known examples of this are the Codes of Conduct for international business or TNCs, which have been promulgated by a variety of international bodies. At the most general level, the United Nations Code of Conduct for TNCs, under negotiation for over a decade, still lacks an agreed text.

The numbers of nongovernmental bodies (again registering only those with a formal existence) are obviously far greater: a probably conservative estimate gives 330 in 1914, 730 in 1939, and some 6,000 in 1980 (Jacobson 1984). This institutional census, however, only indicates the formal structure of a network comprising innumerable meetings and contacts of officials, managers and representatives of all kinds. Indeed, such internationally organized networks have played a major part in ensuring the minimum degree of coordination of state regulation necessary to permit the international reproduction of capital.

The comments in the Grundrisse on the spatial and temporal aspects of commodity circulation; see, in particular, Marx (1973, 533-37). Since much of the following argument uses basic Marxian value theory, perhaps a few words are in order concerning our use of this approach. g. over the so-called transformation problem and the redundancy or irrelevance of values vis-à-vis prices or labour inputs. Wolff, Callari, and Roberts (1984) have discussed the insights and even mathematical ‘solutions’ that emerge when class is defined in terms of surplus labour and when overdetermination is substituted for the determinist approaches that otherwise dominate the literature.

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