This paper analyzes the contradictions in the process of accumula tion in the context of backwardness, looking in detail at the Peruvian economy over an eight year period. A general theoretical framework is developed in which the barrier to accumulation is derived from the sphere of production,...

1. Value as embodied labor -- 2. Value as a social relation -- 3. Exploitation and surplus value -- 4. Circuit of capital -- 5. Commodity money -- 6. Capital and money -- 7. Credit, crises and capital -- 8. Competition among capitals -- 9. Fixed capital and circulation -- 10. Accumulation and...

pt. 1. Methodology of the neoclassical macro model -- pt. 2. Paradigm lost : the basic neoclassical model -- pt. 3. A critique of self-adjusting full employment -- pt. 4. So-called open economy analysis -- pt. 5. Paradigm regained : reclaiming policy.