The Dynamics of Free Market Capitalism
In the late 1960s the operating world capitalist system hit a snag, exposing cracks that went to its very foundations. At first, this crisis was viewed as part of a normal business cycle of capital accumulation in which markets become saturated. The reaction created a mass of unemployed workers, reduced purchasing power and consumption capacity which initiated a further downward cycle of disinvestment and recession. The efforts to revitalize the capitalist system included the restructuring of world production, new information-based technologies designed to revolutionize the structure of production, a new mode of capital accumulation and regulatory regime, and a program of policy reforms and structural adjustments.
Imperialism in the 21st Century
In this book, the authors contend that “globalization” is little more than imperialism in a new form. They argue that the “inevitability” of globalization and the adjustment or submission of peoples all over the world to free market capitalism depends on the capacity of the dominant and ruling classes to bend people to their will and convince people that their interests are the people’s interests. A key element in theorizing about globalization and in organizing to resist it is an understanding that globalization is propagated not to bring a better and more just world to the masses of the people but, as has always been the case with imperialism, to advance the interests of those who already enjoy power and privilege.