The principal impact of foreign enterprise on the development of the underdeveloped countries lies in hardening and strengthening the sway of merchant capitalism, in slowing down and indeed preventing its transformation into industrial capitalism. (Paul A. Baran)

The principal impact of foreign enterprise on the development of the underdeveloped countries lies in hardening and strengthening the sway of merchant capitalism, in slowing down and indeed preventing its transformation into industrial capitalism.

Paul A. Baran

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development enterprise foreign hardening impact industrial merchant principal slowing strengthening sway transformation capitalism lies

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