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Here Samir Amin advances Marxian analysis for the era of globalized, financialized oligopolies following the 2008 collapse. Amin extends Marx’s reproduction schema by proposing a “Third Department of Production devoted to surplus absorption” to account for capital’s chronic overaccumulation. He introduces “imperialist rent”—the systematic wage differential between Global North & South—“whose effect has been to provide Northern capital with sufficient profits to permit it to pacify for a long period its conflict with the Northern proletariat.” To theorize this, Amin reformulates Marx’s law of value as a “law of globalized value” operating across polarized world structures. Situating the present within capitalism’s second long crisis (dating from the early 1970s), he concludes “no exit from repeated crises under capitalism except the descent into barbarism. The challenge is not to escape from the crisis of capitalism—a hopeless project—but to escape from capitalism in crisis.”

The 2014 downing of MH17 as a “prism” refracting deeper structural shifts: the 2008 financial crisis, NATO expansion, & the West’s “global gamble” to contain a resurgent Russia & the BRICS bloc. Ukraine’s fracturing along historic fault lines, the Maidan revolt as “US-supported regime change,” & the civil war in Donbas. The official investigation, compromised by “veto power” granted to Kyiv & “the reluctance of US intelligence to provide evidence.” “The fate of the 298 people on Flight MH17 may become that of humanity at large.”