Capitalism in the 21st Century: A Marxist Perspective

Saima Gul, Syed Sabir Muhammad and Ahmad Ali
Additional contact information
Saima Gul: Lecturer,
Syed Sabir Muhammad: PhD. Scholar,
Ahmad Ali: Lecturer,

Global Economics Review, 2017, vol. 2, issue 1, 49-55

Abstract: A Marxist understanding of the ills of capitalism is applicable to 21st -century capitalism. Motivated by surpluses, capitalism become global in its endeavour of outsourcing production and capital labour substitution. As a result, the capitalist core established an exploitative relationship with the developing and under-developed third world countries. In order to protect their interests and to keep the antagonistic feelings below the threshold, the bourgeoisie elite utilized every tool available to strengthen their control over the resources, maintained their hegemony and absorb counter-hegemonic ideas. The article is an attempt to understand the Marxist interpretation of capitalism and debate in its relevance to 21st -century international politics. With the help of the Iraq war, the article concludes that Marxism and Marxist inspired theoretical interpretation is the best lens to explain the operation of capitalism at the world stage.

Keywords: Marxism; Capitalism; Outsourcing; Surpluses; Mode of production; Hegemony (search for similar items in EconPapers)
Date: 2017
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://gerjournal.com/jadmin/Auther/31rvIolA2LALJouq9hkR/hxbx5yDL7U.pdf (application/pdf)
https://www.gerjournal.com/issue/Capitalism-in-the ... -Marxist-Perspective (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aaw:journl:v:2:y:2017:i:1:p:49-55

DOI: 10.31703/ger.2017(II-I).06

Access Statistics for this article

More articles in Global Economics Review from Humanity Only
Bibliographic data for series maintained by M Imran Khan ( this e-mail address is bad, please contact ).