THIRD WORLD SOCIAL FORMATION. There are three broad social formation may be identified,they are, 1. Pre-Capitalist 2. Neo –colonial capitalist and 3. Transitional socialist formation The main pre-capitalist social formation in Africa,,Asia and Latin America consisted of transitional from communal,through different combination of intermediate slaves and Asiatic mode down to Read more
MULTI NATIONAL CORPORATIONS. One important recent development in the field of industrial organization is the emergence and the growth of multinational corporations.It is noticed that since world war second,giant corporations in the developed countries have been establishing branches or subsidiary companies in other countries,especially in the under developed countries.These are Read more
MARXISM AND THE STATE. Marxist State theory can provide a powerful critical and analytical in the interpretation and interrogation of actually existing capitalism. Our analysis proceeds in three steps. In the first section, we consider why it is that Marxist requires a theory of state and how Marxist have conceptualized Read more
DEVELOPMENT CONCEPTS. Mankind has been living in the world for about two million years. For the major part of these long ages of human existence, man led a life of hunting and gathering. Then,10000 years ago agriculture was discovered and settled life began. Civilizations rose and fell. Agriculture became the Read more
THEORIES OF CAPITALIST CRISIS. Marxist theories of crisis have been elaborated for the industrialized capitalist system of the centre countries. There are crisis associated with the falling tendency of the rate of profit and there are realization crisis. The tendency of the rate of profit to fall as accumulation proceeds Read more
ROWSTOW’S STAGES OF DEVELOPMENT. A modern American economist Prof.Walt Witchman Rostow is well known for his famous ‘stage-wise transformation’ thesis of economic growth. He started with a service career in the office of strategic service during the world war second period(1935-45),becoming the assistant chief of the German Austrian economic affairs Read more
NEO-CLASSICAL VIEW ON VALUE. In the second half of the 19th century Ricardian Economics started decaying after J.S.Mill. This was due to the criticisms of Historical and Socialists School of thought. The year 1971 marked a turning point in the history of economic thought. It witnessed the end of classical Read more
DEVELOPMENT INDICATORS. Economic development can also be seen as a level of economic attainment. Measurement and comparison of development require indicators of development. We can discuss four important indicators of development. These four indicators are: Per capita income, Physical Quality of Life Index, Human Development Index and Quality Life Index. Read more
GLOBAL DEPOSITORY RECEIPTS. Depository receipt – A receipt for money deposited in a bank etc Global depository receipt is a receipt for equity shares issued abroad and traded in global or international stock exchange. GDR is a dollar denominated instrument traded on a stock exchange in Europe or in USA Read more
THEORIES OF UNDER CONSUMPTION. Marxist theories of crisis have been elaborated for the industrialized capitalist system of the centre countries. There are crisis associated with the falling tendency of the rate of profit and there are realization crisis. The tendency of the rate of profit to fall as accumulation proceeds Read more