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Commodity: The Global Commodity System in the 21st Century
by Photis Lysandrou
(Routledge, £45)
THIS short book adds materially to our understanding of the developments which have shaped today’s world economy, pushed it into crisis and which have inhibited the addressing of its most destructive and odious features — inequality above all.
In it, Photis Lysandrou, a Marxist for many years, sets out to explain in a well-written text the parameters of today’s crisis starting, as Marx did, from the fact of the commodity.
Though rooted in Marxism, Lysandrou is not bounded by its orthodoxies. In grappling with the fact of globalisation or the universalisation of commodity exchange as the operative principle of the world economy, he distinguishes between the “physical space” of peoples, nation states and factories and the “commodity space” of a financialised world market.

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