This paper explains the process of financialization and its relation to productive capital accumulation and offshoring/outsourcing. It seeks to answer the question: What role did it play in inducing the current economic crisis and its after-effects in the core and the peripheries? It also...

In today's world of globalization, workers in the core also consume a significant part of their wages on manufactured goods produced in the Third World (China being a prime example of it). This article provides an analytic framework based on unequal interdependence to account for this...