Want to create an interactive transcript for this episode?
Podcast: Anti-Imperialist Network Podcast
Episode: The Political Economy of Unequal Exchange #3: Can a High Profit Rate Make up for Unequal Exchange?
Description: The short answer: no. Emmanuel offers a proof to demonstrate that low waged countries would need to have an inversely proportional rate of profit to mitigate the difference in prices caused by high wages in another country. This is highly unrealistic, as all evidence prior shows that the formation of an average rate of profit occurs rather than an average rate of wages.
(to read more, see https://www.prisoncensorship.info/archive/books/Economics/UnequalExchange_ArghiriEmmanuel.pdf pages 76-81)
If you like this, consider supporting us on Patreon: https://www.patreon.com/ArghiriEmmanuelAssociation/membership
---
Support this podcast...