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16 - Globalization

Published online by Cambridge University Press:  29 May 2020

By
Seongjin Jeong
Edited by
Marcello Musto
Marcello Musto
Affiliation:
York University, Toronto
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Summary

Despite its retreat after the economic crisis of 2008, there is no denying that globalization continues to be one of the central tendencies of capitalism’s law of motion. Indeed, exactly 150 years ago, Marx recognized the phenomenon now understood as globalization as the world market (Weltmarkt), although he did not use the former term, because it was coined about a century after his death. However, what Marx meant by ‘intercourse with foreign nations … the expeditions of adventurers, colonization … the extension of markets into a world market … a new phase of historical development’1 in The German Ideology, co-authored with Friedrick Engels (1820–95), was nothing else than today’s globalization. They rephrased the same thing in Manifesto of the Communist Party

Type
Chapter
Information
The Marx Revival
Key Concepts and New Critical Interpretations
 , pp. 285 - 301
Publisher: Cambridge University Press
Print publication year: 2020

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