Transformations in the Brazilian and Korean Processes of Capitalist Development Between the Early 1950s and the Mid-2010s: from Global Capital Accumulation to Late Industrialisation: From Global Capital Accumulation to Late Industrialisation

Challenging mainstream nation-centred theories of economic development, Nicolás Grinberg examines the specificities of capitalist development in Brazil and South Korea by starting from their modes of participation in the international division of labour and hence in the production of surplus value on a global scale. Contrary to those theories, he does not consider these as resulting simply from the economic policies of nation states and their associated political institutions; nor from local class-struggle dynamics or geopolitical developments. Rather, drawing on key insights from Marx's critique of political economy, his analysis begins by recognising that the process of capitalist development is global in terms of its economic dynamics and historical trends, and national only in its political and institutional forms of realisation. State-mediated patterns of economic development and institutional change in Brazil and Korea, as well as the intra- and inter-state political processes through which these have come about, are then considered mediations in the conformation and reproduction of the nationally differentiated, uneven process of capital's valorisation on a global scale. Acknowledgements ix List of Graphs and Tables x Introduction 1 0.1 State-Centred Accounts: Neoliberal and Statist Approaches 5 0.1.1 Neoliberal Approaches 6 0.1.2 Statist Approaches 9 0.1.3 Problems of State-Centred Approaches 13 0.2 Global Capital Accumulation and the Development of the East Asian and Latin American National Economies 18 0.3 Summary and Conclusions 34 part 1 The Specificity of the Brazilian and Korean Processes of Capitalist Development Introduction to Part 1 39 1 Capital Accumulation in Brazil and Korea: An Overview 40 1.1 Capital Accumulation and the Brazilian State 40 1.1.1 Statist Import-Substituting Industrialisation 45 1.1.2 Neoliberal Import-Substituting Industrialisation 51 1.2 Capital Accumulation and the Korean State 54 1.2.1 Mild Import-Substituting Industrialisation 54 1.2.2 Export-Oriented Industrialisation 57 1.3 Summary and Conclusions 64 Appendix 66 2 The Valorisation of Capital in Brazil and Korea 67 2.1 Valorisation of the Total Social Capital and of the Portions Invested in the Industrial and Agrarian Sectors 67 2.2 Rate of Profit of Social, Industrial (Manufacturing) and Agrarian Capital 69 2.2.1 Capital Advanced for Valorisation Economy-Wide and in the Industrial and Agrarian Sectors 70 2.3 Surplus Value in the Form of Ground-Rent 75 2.3.1 Ground-Rent Appropriated by Those Other Than Landowners 76 2.3.2 Ground-Rent Appropriated by the Private Owners of the Natural Conditions of Production 101 2.3.3 Total Size of Ground-Rent 102 2.3.4 Ground-Rent Relative to Total Value and Surplus Value Production 106 Inflows of Aid Resources and Interest-Bearing (Loanable) Capital 107 Summary and Conclusions 113 3 Determinants of the Valorisation Capacity of Industrial Capital in Brazil and Korea: The Steel, Automotive and Semiconductor Industries 115 3.1 Development of the System of Machinery and the Productive Attributes of the Collective Worker in Large-Scale Industrial Productions 116 3.1.1 Transformations in the Global Steel Industry 123 3.1.2 Transformations in the Global Automotive Industry 147 3.1.3 Transformations in the Global Semiconductors Industry 176 3.2 Summary and Conclusions 197 Appendix 3.1: The Determinants of the Rate of Valorisation of Industrial Capital in the Korean, Japanese and Brazilian Steel Industries 199 Appendix 3.2: The Rate of Valorisation of Industrial Capital in the Korean and Japanese Automobile Industries 204 Appendix 3.3: Brazilian, Korean, Japanese, Argentinian and Mexican Automotive Industries: Base Data 206 Growth and Development Characteristics of the Brazilian and Korean Processes of Capital Accumulation 213 4.1 Economic Growth 214 4.2 Industrial Exports 220 4.3 Labour Productivity in the Industrial Sector 223 4.4 Individual and Collective Characteristics of the Industrial Labour-Force 225 4.5 Cost and Reproduction Patterns of the Industrial Labour-Force 230 4.6 Labour-Market Institutions and Working-Class Political Representation 236 4.7 Summary and Conclusions Appendix: Tables A4.1–A4.17 part 2 250 251 Historical Development of the Brazilian and Korean Processes of Capital Accumulation Introduction to Part 2 275 5 Brazil and Korea up to the Mid-1960s 277 5.1 Brazil: From Nationalistic to Developmentalist Populism 277 5.2 Korea: From Autocratic Democracy to Electoral Autocracy 297 5.3 End of Chapter Conclusions 313 6 Brazil and Korea between the Mid-1960s and the Early 1970s 315 6.1 Brazil: From ‘Corrective Inflation’ to the ‘Economic Miracle’ 315 6.2 Korea: From the ‘Democratic Restoration’ to the Yusin Republic 332 6.3 End of Chapter Conclusions 348 7 Brazil and Korea between the Early 1970s and the Early 1980s 350 7.1 Brazil: From the First ‘Oil Shock’ to the ‘Debt Crisis’ 350 7.2 Korea: From the Heavy and Chemical Industry Plan to the Comprehensive Stabilisation Programme 366 7.3 End of Chapter Conclusions 383 8 Brazil and Korea between the Early 1980s and the Early 1990s 385 8.1 Brazil: From the imf ‘Stabilisation’ Programme to the Hyperinflation Crisis 385 8.2 Korea: From the Kwangju Massacre to the Great Workers’ Struggle 402 8.3 End of Chapter Conclusions 417 9 Brazil and Korea between the Early 1990s and the Early 2000s 419 9.1 Brazil: From the Neoliberal Reforms to the Neoliberal Crisis 419 9.2 Korea: From the Conservative Coalition to the ‘Democratic Market Economy’ 433 9.3 End of Chapter Conclusions 448 10 Brazil and Korea Between the Early 2000s and the Mid-2010s 450 10.1 Brazil: From Neoliberalism to Neodevelopmentalism 450 10.2 Korea: From ‘Participatory Government’ to ‘Post-Democracy’ 461 10.3 End of Chapter Conclusions 472 Summary and Conclusions of the Book 474 Appendix A: The Qualitative and Quantitative Determination of the Capitalist Ground-Rent 481 Appendix B: Methodological Bases and Sources 486 Appendix C: Statistical Tables 517 Databases Consulted 607 References 608 Index 644