Unequal Exchange and the Prospects of Socialism

Originally published underground in 1986, Unequal Exchange and the Prospects of Socialism remains one of the most incisive and vital anti-imperialist works of its time-a landmark synthesis of theory and revolutionary practice. Written by the Communist Working Group (CWG) in Denmark, the book outlines the foundational political and economic structures of unequal exchange between the imperialist core and the exploited Global South, offering a practical framework for how revolutionaries in the Global North can support global liberation struggles.

This new edition from Iskra Books marks the first time since its original publication that the text has been made widely accessible in print. It features a substantial new prologue and epilogue by former CWG member and longtime anti-imperialist theorist Torkil Lauesen, along with a fresh preface from Nemanja Lukic and Henry Hakamäki. The original introduction by Arghiri Emmanuel-the economist most closely associated with unequal exchange theory-has also been preserved.

At once rigorous and accessible, this book serves as both theoretical groundwork and practical guide. It traces the roots of imperialist inequality to the exploitation embedded in global trade and capital flows, but more importantly, it outlines what must be done. With piercing analysis, the authors take aim not only at capital but also at the complicity of working classes in the imperialist countries, posing uncomfortable questions for the contemporary Left. This edition reaffirms the political urgency of revolutionary internationalism and provides a framework for understanding the evolving contradictions of global capitalism today.