[Marxism] Developments in the world economy and the concept of foreign ownership

Sayan Bhattacharyya ok.president+marxmail at gmail.com
Mon May 28 11:41:17 MDT 2007

On 5/27/07, Marvin Gandall <marvgandall at videotron.ca> wrote:
> I tend to think this accelerating interpenetration of global capital in
> the
> world economy is no more reversible than was the consolidation of local
> and
> regional markets into national ones. If that's the case, it challenges
> classical nationalist and Marxist concepts about foreign ownership and the
> inevitability of inter-imperialist war based on the competing interests of
> national bourgeoisies. But I'd be interested to know what others think, or
> if they can direct me to material which contradicts the above.

Your argument here seems somewhat similar to the views of Michael Hardt and
Antonio Negri (the increasing irrelevance of "nation-states" as distributed
networks of capital emerge to replace localised poles) that they develop in
their book "Empire".

For a critique (explicit or implicit) of this line of thinking, you could
look at the essay by John Bellamy Foster called "Imperialism or 'Empire'"
published in the Monthly Review a few years ago. David Harvey's 2003 book
"The New Imperialism" is also interesting (see especially the chapter called
"Capital Bondage" in that book), in this regard.

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