Monopoly Capital and the New Globalization

Monopoly Capital and the New Globalization,” Monthly Review, vol 53, no. 8 (January 2002), pp. 1-7. DOI: 10.14452/MR-053-08-2002-01_1

We live at a time when capitalism has become more extreme, and is more than ever presenting itself as a force of nature, which demands such extremes. Globalization—the spread of the self-regulating market to every niche and cranny of the globe—is portrayed by its mainly establishment proponents as a process that is unfolding from everywhere at once with no center and no discernible power structure. As the New York Times claimed in its July 7, 2001 issue, repeating now fashionable notions, today’s global reality is one of “a fluid, infinitely expanding and highly organized system that encompasses the world’s entire population,” but which lacks any privileged positions or “place of power.”

  • Also appeared as a chapter in Doug Dowd, Understanding Capitalism (London: Pluto Press, 2002).
  • Spanish edition, Entender el Capitalismo (Barcelona: Bellaterra, 2003)
  • Chinese translation by Xgui Chen in Foreign Theory Dynamics, 6 (2003).


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