Based upon distinguishing capitalism from other economic
systems, as well as analysis of capitalist change across its stages
of development, Richard Westra argues that the economic tendencies
we refer to as globalization constitute a world historic transition
away from capitalism. Westra forcefully rejects claims from both
Right and Left sides of economic debate that globalization embodies
the ultimate world diffusion of capitalism. He concludes that the
choice facing humanity is no longer between capitalism and
socialism but between socialism and global barbarism.
The argument is meticulously interwoven through four key foci of
political economy -
- The role of Marx's Capital in producing knowledge of
capitalism,
- The periodizing of capitalism and study of its historical
models,
- The altering trajectories of production and finance under
current globalization,
- The place of socialism in a progressive future.
A central point of the book is that determinations over the
capitalist substance of existing economies demand precise
understanding of how in its basic operation capitalism manages to
secure the economic reproducibility of human society in the first
place. To make the case for the passing of capitalism from history
the volume draws upon the novel Japanese Uno approach to Marxian
political economy.
From the pages of Political Economy and Globalization emerges a
grim picture of our human future should current economic trends
persist. It also offers a positive vision for socio-material
betterment in redistributive, eco-sensitive socialist societies of
tomorrow. This is a must read book for scholars, students,
progressive policy makers and activists.
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