In our book, we take a novel empirical approach to studying cross-country transfers of value (ToV) via international trade. Value transfers amount to ~5.9% of global gross production annually—over € 70 trillion between 1995–2020. This is a core dynamic of imperialism.

A 🧵 Capitalism’s historical expansion has always been tied to global inequality, colonialism, and imperialism. At the global level, the law of value operates in a modified form—via the internationalization of capital in all its forms: commodity, money, and productive capital.

On Saturday, I will present my working paper to the 9th @ecineq Meeting. Its my 2nd dissertation chapter on the role of firm competition in wage inequality.

It is my first ECINEQ presentation, so I am honored and excited!

ecineq2021.org/sessions/i7-wa…

#ecineq2021 #econtwitter I link turbulent competition between firms and turbulent dynamics of wage increases, roughly following Marx’ intuition: “The competition between workers is only another form of the competition among capitalists.” (Grundrisse, p. 651 in the 1999 Penguin Edition)

How do we approximate labor values from input-output tables? A short thread on the methodology behind Güney Işıkara's and my paper on market prices, labor values and the empirical strength of the labor theory of values. (1/N)

You can find the paper here: tandfonline.com/doi/citedby/10… Input-Output Tables (IOTs) record financial flows between industries. How many dollars did industry B spend on products from industry A?

This allows us to trace *relative* flows. How many percent of industry A outputs "travel" as inputs through industry B to industry C? (2/N)