By Robert J. S. Ross
How have worldwide markets and worldwide production replaced the stability of social, financial and political strength? With this quantity Ross and Trachte problem present political-economic conception. In concise phrases they exhibit how conventional theories of monopoly capitalism and international structures should not well-suited to research the emergence of world capitalism. This booklet, in a sequence of case reports of U.S. metropolitan parts, examines the dramatic transformation of the realm economic climate within the final 20 years. The book's final part examines political approach and the political concept implied via the heightened strength of capital.
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Extra info for Global Capitalism: The New Leviathan
5 As we indicated earlier, the methodological innovation of thinking in terms of change in the dominant form of capitalism is neither recent nor strictly American in origin. Already by the turn of the century, European social democracy was absorbed in discussion of "finance capital," "imperialism," and the role of trusts. The theory also differs from that of world systems analysis whose starting point defines capitalism as a system of production for exchange, and which (as discussed in chapter 4) explicates the current world system as a hierarchical order of exchange rather than production relations.
Page 27 As global capitalism emerges, the distinctive lever of exploitation—the dominant resource for power, which becomes perfected by aggressive firms is capital mobility—the threat and reality of flight. We refer to this changing power relation as the capitaltolabor relation. Capitaltocapital. These are impersonal processes that take place between aggregates of capital. 16) Whereas the relationship between labor and capital is a contest over value or surplus labor, the relationship between firms is mediated by price.
The emergence of monopoly capitalism remade the tasks of government and the alignment of class forces. The terrain of the old political world is shifting in a variety of ways. It is within this varied terrain that we observe, in chapter 10, the strategic initiatives of business and workers in the older regions of the United States. Mao was wrong: the East wind does not blow red, rather it postpones the socialist project. The world of our maturity appears to threaten these gains. Neither of us welcomes the vista which we depict.
Global Capitalism: The New Leviathan by Robert J. S. Ross