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Unequal Exchange by Arghiri Emmanuel

Unequal Exchange

A Study of the Imperialism of Trade

Arghiri Emmanuel, Charles Bettelheim, John Bellamy Foster

Monthly Review Press · Print & ebook · July 1, 2025

How one nation can grow rich at the expense of another is one of the central problems of economics in the era of neo-colonialism.

Colonialism & Its AftermathPolitical EconomyInternational Economics
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Who it’s for
A critical examination of how international trade can enrich one nation at another’s expense.
Genres
International Economics, Colonialism & Its Aftermath, Political Economy
Published
Monthly Review Press, July 1, 2025

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About this book

How one nation can grow rich at the expense of another is one of the central problems of economics in the era of neo-colonialism. Traditional doctrine, resting on Ricardo?s theory of comparative costs, which has dominated investigation of this issue for a century and a half, has proven itself incapable of providing an answer. Emmanuel?

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s path-breaking study, now itself a classic, upends the conventional assumptions, subjecting the phenomena of international trade to critical scrutiny, both systematically and with logical rigor. It integrates the theory of international value (and unequal exchange) into the general theory of value as propounded by the classical economists and Marx. Enmanuel?s theory of unequal exchange generated a widespread world debate on its first appearance, part of which, emanating from French economist Charles Bettelheim, is included in this volume. It has remained the foundation of critical analysis of international exchange relations ever since, and has gained even more importance today in the age of global value chains.

International Value

A critical examination of how international trade can enrich one nation at another’s expense.

Come here for

  • Unequal exchange integrated into classical and Marxian theories of value
  • A debate that includes Charles Bettelheim’s response

Expect

  • Systematic scrutiny of international trade
  • An argument challenging comparative-cost doctrine

Where it sits

International Economics44%
Political Economy37%
Colonialism & Its Aftermath28%

Percentages are BookFrontier’s reading of the book.

Publisher categories

  • Foreign Exchange (FX)
  • Trade & Tariffs
  • Sociology
Authors
Arghiri Emmanuel, Charles Bettelheim, John Bellamy Foster
Publisher
Monthly Review Press
Published
July 1, 2025
Format
Print & ebook
Reading lane
Foreign Exchange (FX)