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Samir Amin is one of the world's most profound thinkers about the changing nature of capitalism, North-South relations and issues of development. Here he provides us with a powerful understanding of the new and very different era that capitalism has now entered with the collapse of the Soviet model, the triumph of unfettered market forces and accelerating globalization.
His analysis spans the increasingly differentiated regions of the South and the former Eastern bloc countries, as well as Western Europe. He integrates his economic arguments about the nature of the crisis with political arguments based on his vision of human history not as simply determined by material realities, but as the product of social responses to those realities.
His innovative analysis of the rise of ethnicity and fundamentalism as consequences of the failure of the ruling classes in the South to alter the unequal terms of globalization is particularly compelling, as is his deconstruction of the Bretton Woods institutions - notably the IMF and the World Bank - as managerial mechanisms protecting the profitability of capital.
Looking to the longer term, Amin rejects a passive acceptance of the inevitability of globalization in its present polarizing form, or the simple-minded equation of development with expansion of the market. Instead, he argues for each society being allowed to negotiate the terms of its interdependence with the rest of the global economy in order that essential national developments can be pursued in a pluralistic world.
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Includes bibliographical references and index.
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"Samir Amin remains one of the world's most influential thinkers about the changing nature of North-South relations in the development of contemporary capitalism. In this highly prescient book, originally published in 1997, he provides a powerful analysis of the new unilateral capitalist era following the collapse of the Soviet model, and the apparent triumph of the market and globalization. Amin's innovative analysis charts the rise of ethnicity and fundamentalism as consequences of the failure of ruling classes in the South to counter the exploitative terms of globalization. This has had profound implications and continues to resonate today. Furthermore, his deconstruction of the Bretton Woods institutions as managerial mechanisms which protect the profitability of capital provides an important insight into the continued difficulties in reforming them. Amin's rejection of the apparent inevitability of globalization was prophetic, as years later we have seen markets and supply chains more integrated than ever. A landmark work by a key contemporary thinker." -- Back cover.
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