ABSTRACT
The second section of Chapter 6, which discussed the growing economic crisis of the 1970s, presupposed the growing integration of the world economy without discussing it in detail. And in the first section of Chapter 5, which introduced the views of the abstract labour theorists on the development of capitalism, we focused our attention on the relentless global expansion of capitalism. In this view the intensive development of capitalism and the rise of machinofacture has been accompanied by the global expansion of capitalism. With the growing concentration of capital into more intensive factory production in the early nineteenth century, there was an increasing exchange of commodities through world trade. And then in the second half of the nineteenth century as capital became increasingly centralized in bigger and bigger companies, so there were increasing flows of money-capital between nation-states.
