pIn this extensively revised and expanded edition of the 1978 classic, Samir Amin suggests new approaches to Marxian analysis of the crisis of the late capitalist system of generalized, financialized, and globalized oligopolies following on the financial collapse of 2008.ppConsidering that Marx s Capital written before the emergence of imperialism as a decisive factor in capitalist accumulation could provide no explanation for the persistent underdevelopment of the countries of the global South, Amin advances several important theoretical concepts extending traditional Marxian views of capitalist evolution. Most strikingly, he proposes adding to the model of reproduction in Volume II of Capital a Third Department of Production devoted to surplus absorption and explores the concept of imperialist rent by extending the Marxian law of value in the form of a new law of globalized value. ppAmin sees the present crisis as a moment in the second long crisis of the capitalist system, dating fr