Profit and crises

Recent Books and problems of foreign competition (Bruce Lyons); and macroeconomic performance in perspective (Brian Reddaway). The Military Origins qf Industrialization and International Trade Rivalry. Gautem Sen. New York: St. Martin’s Press, 1984. 277 pp. $30.00 ISBN O-312-53237-7. The aim of this book is to explain the political motivation for industrialization and why this leads to irreconciable international trade conflicts. The author argues that the causes of international trade disputes in manufactures hinge on the division of the international political system into competitive nation-states. Multinational Corporations, Technology and Employment. Edward K.Y. Chen. New York: St. Martin’s Press, 1983. 247 pp. $32.50 ISBN O-312-55255-6. This book examines the effects of multinationals on technology transfer and patterns of employment generation from the perspective of development economics. The work includes a case study of manufacturing in Hong Kong and a comparison of Hong Kong with other Asian countries. The Price of Industrial Labor: The Role of Wages in Business Cycles and Economic Growth. James E. Annable, Jr. Lexington, MA: Lexington Books, D.C. Heath, 1984. 258 pp. $35.00 ISBN O669-06952-3. Annable constructs and tests a theory of the optimal wage policy of industrial firms and finds that rational firms may pay rational workers more than the market-clearing wage and that the wage premium may fluctuate substantially over time. Profit and Crises. Arghiri Emmanuel. N.P. Costello, trans. New York: St. Martin’s Press, 1984. 419 pp, $29.95 ISBN 0-312-64790-S. This book is a contribution to Marxist theories about contemporary society and economy. Emmanuel argues that the internal and external contradictions of advanced capitalist countries are organically related as inherent features of the world capitalist order, and feed on and amplif>T each other. Profit Theory and Capitalism. Mark Obrinsky. Philadelphia: University of Pennsylvania Press, 1983. 177 pp. $18.00 ISBN 0-81227863-1 ($8.95 paperbound). This is a theoretical study of the origin of profit in a macro369