Accumulation and development: a theoretical model

Abstract

In this article Samir Amin sets out the core of his model of the global accumulation of capital. In it he defines two distinct patterns: one applying to development at the centre, the other to dependent development in the periphery. Central development is characterised by the dominance of economic activity to satisfy mass consumer needs and the consequent demand for production goods. The power of the masses is enlisted in a ‘social contract’ which allows the establishment of a limited economic viability, at a national level. However, the internationalisation of productive capital increasingly threatens that stability. The peripheral systems are dominated by production of luxury goods and exports and the consequent lack of importance of internal mass markets. This leads to growing inequality, technological dependence, political weakness among the oppressed — in sum, marginalization. Restructuring of these economies requires a break with the international economy, and self‐centred development which establishes the dominance of production for mass needs, though there are particular difficulties for individual countries attempting such a break and ultimately a solution can be found only if such changes take place internationally. Policies for the difficult period of transition must first and foremost focus on the need to build the political consciousness necessary to complete tills process.