economic globalisation

wdrb at wdrb at
Fri Aug 11 14:22:15 MDT 1995

Having read about the world economy for a number of years
in International Business Week I believe that
Lenin's "Imperealism, the highest stage of capitalism"
is now an entirely inadequate description of the world
economy. There is no longer a correspondence between
blocks of capital, monopolistic nationally based enterprises
and the nation state. The circuits of capital have broken
the bounds on the nation state. Trans-national enterprises
have fixed capital in every continent. The share capital of such
companies is traded internationally. Big capitalists such as Rupert
Murdoch and George Soros are of indeterminate nationality.

Although there has been some move to form three
great trade blocs, every potential trade war is
defused and the trade and exchange between these
blocs continually grows. The major transnational
companies have productive capacity and sales in
each bloc.

I am not hostile to Lenin and still believe
capitalism needs to be overthrown by revolution.

Does the above brief description of the world
economy make sense? Are other Marxists writing
in these terms (can anyone recomend books
or articles)? Have any left parties or organisations
adopted this perspective or studied these questions?
What is the future for the nation state and national
ruling classes in this context? Is war between major
'imperealist' powers (eg the USA and Japan) possible
and would such a 'war' mean anything more than

I have no sense that the Left has a mental picture
of the contemporary world economy or its direction.
It seems little discussed, what discussion there
is focuses on the fundamentals of Marx's catergoreis
in the abstract and this is certainly of value.

It seems to me that Lenin provided a powerful
description of the world economy in his
"Imperealism, the hghest stage.." and that
this description was a platform for understanding
the roots of WW1 and the relationship between
the industrialised and colonial worlds.
Where is the equivalent description of the world
economy today or is Lenin's still adequate???

Will Brown  Bristol   England

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