By James Petras, Henry Veltmeyer
The area is on the crossroads of social swap, within the vortex of forces which are bringing a few varied international, a post-neoliberal kingdom. This groundbreaking publication lays out an research of the dynamics and contradictions of capitalism within the twenty-first century. those dynamics of forces are traced out in advancements the world over - within the Arab Spring of North Africa and the center East, in Cuba and somewhere else in Latin the United States, within the usa, and in Asia. The forces published via a process in difficulty will be mobilized in several methods and instructions. the point of interest of the ebook is at the strategic responses to the systemic concern. because the authors inform it, those dynamics crisis 3 worldviews and strategic responses. The Davos Consensus makes a speciality of the virtues of the loose industry and deregulated capitalism because it represents the pursuits of the worldwide ruling classification. The post-Washington Consensus issues the necessity to supply capital a human face and identify a extra inclusive type of improvement and worldwide governance. as well as those visions of the longer term and initiatives, the authors establish an rising radical consensus at the have to circulation past capitalism in addition to neoliberalism.
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Extra info for Globalization, Crises, and Change: Beyond Neoliberalism : A World to Win
The same has happened in China and much of East Asia, which has seen very fast economic growth over the past two decades. That is, economic growth has been generally accompanied by an increase in social inequality. 42 in 2007,and is undoubtedly higher today. That said, in Wikipedia’s review of this ‘the reasons behind the increase in the Gini index across many countries from the 1990s through the mid 2000s are still unknown’. A very odd statement, given the obvious and all too clear connection between the increase in social inequality and a shift away from developmentalism to neoliberalism.
13) admits, ‘there might be a case for some radical responses, especially a greater focus on redistribution’. Redistribution, of course, was the central concern of development in the 1970s, but then it was in no way a radical policy; rather a social liberal reformist response to the growing pressures for revolutionary change at the time. So, what are the prospects of a radical response to the UN’s ‘inequality predicament’ in the current context of capitalist development in the form of neoliberal globalization?
In this regard World Bank economist Branko Milanovic estimates that the world middle class is barely 11 percent (2002: 175). This methodology is problematic in a number of ways. Firstly, if the middle class is defined as all those who are neither rich or poor, then—depending on the poverty line measure—up to 50 percent of the population in many societies, in the South as well as the North, would automatically fall into the middle class, a dubious or meaningless proposition. It would of necessity include, and lump together, a large category of low-income earners with a very restricted capacity to consume, with individuals in an upper-income bracket and a high level of consumption.
Globalization, Crises, and Change: Beyond Neoliberalism : A World to Win by James Petras, Henry Veltmeyer