By Berch Berberoglu
The deep fiscal recession that has happened in all significant sectors of the U.S. and worldwide economic climate is a manifestation of the underlying contradictions of the capitalist procedure that has led to the buildup of colossal fortunes on one part and impoverishment, debt, and destitution at the different. in brief, the main issue of worldwide capitalism is the results of the tremendous disparities in wealth and source of revenue and a consequent widening hole among capital and exertions. This ground-breaking ebook brings jointly a crew of specialists at the modern worldwide capitalist political financial system who're capable of make clear the internal workings of worldwide capitalism and the capitalist globalization strategy that has resulted in the expansion and improvement of capitalism from the nationwide to the worldwide point, with all its primary inner dynamics and contradictions working on a global scale. it'll make a big contribution to knowing the underlying explanations of the present worldwide financial main issue and express the best way out of this obstacle in terms of a strong critique of the worldwide capitalist process that might finally wade through a big fiscal, political, and social transformation. research of the worldwide capitalist hindrance increases questions in regards to the strategy of capitalist globalization, particularly now that neoliberal fiscal regulations have failed. Does this sign the tip of capitalist globalization and the cave in of the worldwide capitalist procedure? This booklet will take in those questions and entertain the opportunity of a brand new starting within the worldwide political economic system via an research of the subsequent interval of post-capitalist advancements world wide which could set the degree for the increase of socialism around the globe.
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Extra info for Beyond the Global Capitalist Crisis: The World Economy in Transition
Example text
As capitalist processes continued to demand expansion, inevitable collisions between international companies and nations become more intense. At any moment, alliances might appear stable, but all sorts of events —economic crisis at home, discovery of mineral deposits in some other land, rebellion in some faraway part of the world, shifting of balance of power within a nation, rapidly developing technology, including naval capacity, airplanes, and weaponry—can all upset a seemingly stable world.
As capitalism gradually transformed from mercantile capitalism to industrial capitalism, so too did the ability to acquire great wealth quickly. One aspect of this was the concentration of more wealth in fewer and few corporations. In Europe and the United States, industrial capitalism was maturing into monopoly capitalism. There is an inherent contradiction in the whole process of capitalist competition. If competition develops freely, wealth and power can accumulate in certain corporations and banks that allow them to use their wealth to magnify and multiply their advantages, thereby further accumulating more wealth and power.
2010. The Enigma of Capital and the Crises of Capitalism. New York: Oxford University Press. Hooks, Gregory. 1991. Forging the Military-Industrial Complex. World War II’s Battle of the Potomac. Urbana-Champaign, IL: University of Illinois Press. The Origins and Development of the Global Capitalist Economy 33 James, Harold. 2009. The Creation and Destruction of Value: The Globalization Cycle Cambridge, MA: Harvard University Press, 2009. Keynes, John Maynard. 1965. The General Theory of Employment, Interest, and Money New York: Harcourt, Brace, and World.
