Underdeveloped nations uniquely channel surplus to the world metropolis

Evidence

In his 1967 book Capitalism and Underdevelopment in Latin America, Andre Gunder Frank, a fierce critic of the free market approach espoused by his mentor Milton Friedman, argued that the nations that we now consider to be developed were never ‘undeveloped’ in the way we view African nations. Rather, the nations that are called undeveloped have a unique role in the world system unlike anything that the rich countries have ever played. He argued that the underdeveloped nations serve ‘as an instrument to suck capital or economic surplus out of … [the] … satellites and to channel … this surplus to the world metropolis’. — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 14

Categorization

• XREF: Gunder Frank defied his own mentor Milton Friedman - connects to broader history of economic thought. — connects to: Underdeveloped nations exist to channel surplus toward wealthy metropolises.; The mode of surplus extraction reveals the hidden foundation of the entire social edifice; Core nations need peripheral resource extraction to prevent realisation crises — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 13 (+9 more)

Related

• Underdeveloped nations exist to channel surplus toward wealthy metropolises. (similarity 0.93)
• Western wealth was built by actively creating underdevelopment elsewhere (similarity 0.85)
• Latin America’s underdevelopment stems from its early insertion into world capitalism. (similarity 0.84)
• More industrially developed countries display the future of less developed ones (similarity 0.80)
• Currency arrangements can transfer wealth from colonies to metropolis (similarity 0.80)
• Gunder Frank held that Latin America was capitalist since the sixteenth-century conquest (similarity 0.79)
• Latin American underdevelopment results from capitalist incorporation dating to the sixteenth century (similarity 0.79)
• Third World countries depend on East or West for primitive capital accumulation (similarity 0.78)
• Contemporary neoliberal urban divides are modern expressions of colonial extraction (similarity 0.78)
• Integration into global capitalism reinforces, not relieves, the periphery’s subordination (similarity 0.78)

Broader Connections

• Capitalism’s non-political nature enabled its global penetration beyond state reach #expands (0.80) — Anthony Giddens, The Consequences of Modernity, 174
• Latin America’s underdevelopment stems from its early insertion into world capitalism. #expands (0.75)
• Globalisation produces mutually opposed tendencies, not uniform worldwide change #complicates (0.75) — Anthony Giddens, The Consequences of Modernity, 167
• The dependency school explained underdevelopment as a structural effect of the world economy. #expands (0.70)
• Neocolonialism keeps formally independent states economically and politically directed from outside #expands (0.60) — Green, Todd H, The Fear of Islam_ An Introduction to…, 181