Gunder frank in retreat?

World Accumulation, 1492–1789, by Andre Gunder Frank. New York: Monthly Review Press, 1978. Pp. 303, index. £3.95, paper. In this review article, Andre Gunder Frank's latest book, World Accumulation, is given extended critical treatment. It is argued that, in generalising his earlier arguments (which were formulated with respect to Chile and Brazil) across space and time, and in responding to a decade of criticism of his work, Frank has moved closer to the position of one of his best‐known critics, Laclau. Frank is taken to task for his ‘world market abstractionism’ and it is posited that the incorporation model which he espouses does not transcend the limits of petty‐bourgeois theory and downgrades the class struggle between bourgeoisie and proletariat. The article falls into two parts. In the first, issues relating to Frank's historical framework are taken up—basically with regard to (i) Frank's ‘cycles of accumulation’ and (ii) Frank's interpretation of the second serfdom in eastern Europe; and in the second certain theoretical issues, around the theme of'wage‐labour’, are discussed. Both Frank's historical framework and his theoretical formulations are shown to be seriously defective. Notes Bombay.