The Internationalization of Capital: Imperialism and Capitalist Development on a World Scale

The Internationalization of Capital: Imperialism and Capitalist Development on a World Scale

The Internationalization of Capital: Imperialism and Capitalist Development on a World Scale

The Internationalization of Capital: Imperialism and Capitalist Development on a World Scale

Synopsis

"The Internationalization of Capital explores the nature of capitalist expansion, providing a wealth of up-to-date empirical data combined with incisive theoretical analyses of the dynamics of international capitalism within a comparative-historical framework. The unique combination of theory and extensive data on the labor force structures of various countries makes this work engaging reading for all who are interested in the class basis of conflicts and crises in the world economy." Social and Economic Studies

Excerpt

As the 20th century closes out its penultimate decade, world capitalism is in a deep and profound crisis. The signs of decline and decay are everywhere throughout the advanced and less developed regions of the world capitalist system, where despite some short-term reversals in some countries yielding a limited recovery, the long-term direction of the downward spiral is unquestionably permanent and irreversible, affecting a majority of the countries bound up in it-- above all, the current center of world capitalism, the United States. The crisis manifests itself in high unemployment and inflation, decline in purchasing power of workers, overproduction and underconsumption, recessions and depressions, heightened social and class struggles, and repression and revolution in an increasing number of countries around the world. These are the outcomes of the development of capitalism on the world scene during the past 100 years, from the local to the national to the international levels. As the internationalization of capital has spread capitalism and capitalist relations, with it their deep-seated contradictions, throughout the world, the crisis of' world capitalism has come to manifest itself as the crisis of world imperialism. It is for this reason that imperialism represents the highest, but also the decaying stage of capitalism, when millions under its sway come to recognize the urgency of the struggle against it.

What is the nature of imperialism and what has been the process of its worldwide expansion? How does it affect the various regions and nations it comes to dominate and what has been the response of the oppressed and exploited around the world to its onslaught? These are some of the questions that this volume attempts to address in an effort to map out the world economic, social, and political situation and to guide us to existing and potential centers of national and class struggle that will lead to national liberation and social revolution.

It is in this context that the growth in size and politicization of a developing proletariat in the Third World must be treated with special importance in assessing the impact of imperialism and capitalist development on a world scale, as the leadership of the working class through its advanced, revolutionary contingents constitutes the decisive factor in effecting a revolutionary break with world imperialism.

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