The Making of Global Capitalism
A Verso book
Groundbreaking account of the development of capitalism.
The all-encompassing embrace of world capitalism at the beginning of the twenty-first century was generally attributed to the superiority of competitive markets. Globalization had appeared to be the natural outcome of this unstoppable process. But today, with global markets roiling and increasingly reliant on state intervention to stay afloat, it has become clear that markets and states aren’t straightforwardly opposing forces.
In this groundbreaking work, Leo Panitch and Sam Gindin demonstrate the intimate relationship between modern capitalism and the American state, including its role as an “informal empire” promoting free trade and capital movements. Through a powerful historical survey, they show how the US has superintended the restructuring of other states in favor of competitive markets and coordinated the management of increasingly frequent financial crises.
The Making of Global Capitalism, through its highly original analysis of the first great economic crisis of the twenty-first century, identifies the centrality of the social conflicts that occur within states rather than between them. These emerging fault lines hold out the possibility of new political movements transforming nation states and transcending global markets.
- October 2012
- 6.5 × 9.5 in
/ 464 pages
- Territory Rights: USA and Dependencies and the Philippines.
Endorsements & Reviews
“Lucid and indispensable guides to the history and practice of American Empire.” — Naomi Klein
“This is a major work in political economy—rigorously researched, compellingly written, and bursting with fresh insights on nearly every page.” — Robert Pollin, Professor of Economics, University of Massachusetts Amherst
“Combining the ferocity of investigative reporters, sophisticated skills in interpreting the historical archive, and a profound grasp of theory, Panitch and Gindin provide an astonishingly illuminating account of the making of global capitalism through the organization of a global financial system under US hegemony since World War II. A must read for everyone who is concerned about where the future of capitalism might lie.” — David Harvey, author of The Enigma of Capital
“Panitch and Gindin give us a history of global capitalism that brings together what has often been represented as unconnected. The authors help us see the active making of global capitalism mostly overlooked in mainstream explanation. A great book.” — Saskia Sassen, author of Territory, Authority, Rights
“They have few rivals and no betters in analyzing the relations between politics and economics, between globalization and American power, between theory and quotidian reality, and between crisis and political possibility.” — Doug Henwood, editor of Left Business Observer, author of Wall Street
Also by Sam Gindin
Also by Leo Panitch
New Edition / Paperback