Global Capitalism

Overview

An "illuminating exploration of the fast-changing landscape of capitalism" (Nature). This "glorious and frightening read" (MT Magazine) examines capitalism's place as the universal social and economic order of our time. Now truly global, twenty-first century capitalism—aided by extraordinary advances in technology and communication and by unfettered global financial markets—has a speed, inevitability, and force that it has not had before. In Global Capitalism, leading political and economic analysts have gathered...
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Overview

An "illuminating exploration of the fast-changing landscape of capitalism" (Nature). This "glorious and frightening read" (MT Magazine) examines capitalism's place as the universal social and economic order of our time. Now truly global, twenty-first century capitalism—aided by extraordinary advances in technology and communication and by unfettered global financial markets—has a speed, inevitability, and force that it has not had before. In Global Capitalism, leading political and economic analysts have gathered to dissect this dangerous new world. Hailed as a "must read" by Internet Business London, Global Capitalism analyzes the current role of the business firm, considers whether the new capitalism is compatible with social cohesion and social justice, and addresses topics ranging from the degradation of the environment to the concentrated control of the media by transnational corporations. The contributors discuss capitalism as a form of culture and way of life, and ask whether it has any viable political rivals.

Contributors:
• Ulrich Beck
• Manuel Castells
• Jeff Faux
• Arlie Russell Hochschild
• Robert Kuttner
• Larry Mishel
• Richard Sennett
• Vandana Shiva
• George Soros
• Polly Toynbee
• Paul A. Volcker

Author Biography: Will Hutton is the author of the bestselling books The State We're In and The State to Come. Anthony Giddens is the director of the London School of Economics. He is the author of The Third Way: The Renewal of Social Democracy.

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Editorial Reviews

Forecast
A trenchant analysis of 'global' capitalism shows how this economic theory and practice became a world-wide phenomenom.
Internet Business London
[A] must read.
MT Magazine
[A] glorious and frightening read.
Nature
[An] illuminating exploration of the fast-changing landscape of capitalism.
Talk
Groundbreaking.
Publishers Weekly - Publisher's Weekly
Compiled in the aftermath of December 1999--when Seattle protesters surprised the world with a show of antiglobalization activism--this book displays the diversity of ideas driving a growing movement. Edited by London School of Economics director Giddens (Runaway World, Forecasts, March 27) and Hutton (The State We're In), this volume--for better and for worse--lacks a coherent organizing principle as it deals with the effects, both financial and cultural, of globalization. Contributors range from those who primarily oppose globalism to those who are against the very idea of capitalism per se. Most, however, wish to agitate for narrower intellectual and activist goals in this era of multinational corporate power. Essayists (most of whom, like Richard Sennett, Arlie Hochschild and Vandana Shiva, are well known) treat a range of international policy issues: the rise of information technology; the persistence of economic inequality and environmental abuses; women's rights; and individual psychology (e.g., Sennett deals with the dislocation of identity that results from a global culture). Professional capitalists Paul Volcker and George Soros rehearse their critiques of the IMF and assess the lasting effects of the Third World financial crises of 1997 and 1998; Guardian columnist Polly Toynbee delivers, in what is easily the most readable essay here, a critique of "cultural panic," the fear of the globalization of culture ("Sometimes it seems as if a tidal wave of the worst Western culture is creeping across the globe like a giant strawberry milkshake"). Other essays are aimed primarily at policy wonks. On the whole, the book is readable and well researched. Though it doesn't break a lot of new ground, it does provide an intermediate-level survey of the range of leftist ideas circulating these days in response to global capitalism. (Aug.) Copyright 2000 Cahners Business Information.
Library Journal
The 12 essays in this collection (previously published in the United Kingdom as On the Edge) confirm that capitalism has become the dominant world economic system and that indigenous local cultures have been largely Americanized. The contributors are either economists or sociologists, the most notable being Paul Volcker, former U.S. Federal Reserve chair, and prominent international financier George Soros. Each essay takes on a particular social or financial aspect of capitalism's globalization. A particularly interesting piece by Arlie Russell Hochschild (sociology, Univ. of California) looks at the social consequences of the migration of childcare providers from poorer to richer countries. Although editors Hutton (The State We're In) and Giddens (London Sch. of Economics) have put together a generally well-written and accessible collection, the narrow focus makes it most suitable for specialists and graduate students. Recommended for academic libraries with graduate programs in international sociology and economics.--Lawrence R. Maxted, Gannon Univ., Erie, PA Copyright 2000 Cahners Business Information.\
Booknews
Offers a range of commentary on globalization's impact on capitalism. Paul Volcker and George Soros reflect on the destabilizing force of global financial markets, arguing that the Asian crisis emerged from the structure of the financial system rather than from embedded weaknesses in the Asian economies. Manuel Castells agrees that the financial markets are unstable but also, on the up-side, sees them as transmission methods of global capitalist values. Jeff Faux, Larry Mishel and Robert Kuttner show how globalization increases income inequality and job security in the US, and Arlie Hochschild examines first-world mothers employing third- world mothers as nannies. In general the writers agree that the global system needs more governance if core social and cultural needs are not to be eclipsed by new trends. Hutton is author of and and Giddens is director of the London School of Economics. Distributed by W.W. Norton. Annotation c. Book News, Inc., Portland, OR (booknews.com)
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Product Details

  • ISBN-13: 9781565846746
  • Publisher: New Press, The
  • Publication date: 9/28/2001
  • Pages: 256
  • Product dimensions: 6.58 (w) x 9.24 (h) x 0.64 (d)

Table of Contents

Preface
In Conversation 1
Information Technology and Global Capitalism 52
The Sea of Global Finance 75
The New Global Financial Architecture 86
Inequality and the Global Economy 93
The World on the Edge 112
Global Care Chains and Emotional Surplus Value 130
The Role of Governments in the Global Economy 147
Living Your Own Life in a Runaway World: Individualisation, Globalisation and Politics 164
Street and Office: Two Sources of Identity 175
Who's Afraid of Global Culture? 191
Fighting Back 213
Notes on Contributors 225
Index 227
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