Subordinated Development: Transnational Capital in the Process of Accumulation of Latin America and Brazil

The development of capitalism is not linear progress and every country has integrated into capitalist relations of production in different ways at different times. This uneven integration results in a divergence between countries, which is neither a result of market imperfections nor state failure, but it is a direct result of the transnationalisation of capital. For Sawaya, transnationalisation of capital is crucial to understand the subordinated development of capitalism in Latin America in general, and in Brazil in particular.

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