THEORIES OF LATE CAPITALISM AND THE WORLD SYSTEM - Essay Example

Comments (0) Cite this document
Summary
Name Institution Instructor Course Date Late Capitalism and the World System Introduction The term “late capitalism” came into the fore in the late 1950s and started dominating the world’s postmodernism culture. According to scholarly research findings, David Harvey and Yoshihiro Francis are some of the prominent theorists of late capitalism and their works contribute enormously to social and political debates…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.4% of users find it useful
THEORIES OF LATE CAPITALISM AND THE WORLD SYSTEM
Read TextPreview

Extract of sample "THEORIES OF LATE CAPITALISM AND THE WORLD SYSTEM"

Download file to see previous pages With that respect, this essay will seek to highlight and address this problem as well as identify solutions provided by both theorists. Francis Fukuyama assert that the loss of social order as depicted by capitalism was a not matter of poor memory or nostalgia but rather a matter of hypocrisies committed in the early ages of communism. Most recently, as Francis reveals, there has been frequent occurrence of seismic shifts during the fall of 1980s. These shifts involve strategies set in place by governments of the developed countries such as the United States with the aim of harnessing economic power (Harvey 43). The issue regarding if the information age democracies have the ability to withstand social order while facing economic and technological change are part of the greatest challenges encountered by these economic super powers. Philosopher Francis argues that, there exists a strong logic backing the evolution of political institutions pointing towards modern liberty democracy, basing on mutual relations between stable democracy and economic development. However, the most worrisome aspect as described Francis is that, this progressive tendency lacks social and moral development. His failure to include politics and ecology in his work derives bases from the general tendency of the contemporary basics where liberal democracies fall victim to excessive individualism. Francis makes it clear that the liberty of the modern state premised on the concept whereby the interests political peace, the government would not be in a position to sideline differing moral claims as put forward by traditional culture and/or religion (Harvey 45). In their theories, there is no examination of the ecological implications of modernism or the theoretical practices of postmodernism in relation with the environment to assess whether they repress modernist assumptions or encourage non-exploitation. Their failure to address these issues inevitably reflects the supposed conditions of postmodernism and discussions based on political stratagem. As a matter of course, their theories omit space analysis into spatial politics as opposed to other theorists (Harvey 46). Indeed, theories of postmodernism bear a strong family resemblance to those ambitious sociological generalizations that bring people the news of the arrival and the inauguration of a new type of society baptized as postindustrial society. To their own relief, these theories have the obvious ideological mission of illustrating that the new social formation does no longer obey the laws of late capitalism. Situation of the problem Their failure to address politics and ecology has made learners fail to understand that despite the increasing global division of poverty and wealth, dependency theory together with its thesis concerning the structural domination of the capitalist West over the developing countries or simply, the Third World, is all but dead. According to Francis and David’s theories of late capitalism, the passing of dependency theory has been faltering, slow, and at the same time inexorable. Now, it is a reduced theoretical political memory in both mainstreams in international relations writing mentioned only as interesting historical lineage (Gray 47). This omission is not very helpful, at best, since ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“THEORIES OF LATE CAPITALISM AND THE WORLD SYSTEM Essay”, n.d.)
Retrieved from https://studentshare.org/geography/1397523-theories-of-late-capitalism-and-the-world-system
(THEORIES OF LATE CAPITALISM AND THE WORLD SYSTEM Essay)
https://studentshare.org/geography/1397523-theories-of-late-capitalism-and-the-world-system.
“THEORIES OF LATE CAPITALISM AND THE WORLD SYSTEM Essay”, n.d. https://studentshare.org/geography/1397523-theories-of-late-capitalism-and-the-world-system.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF THEORIES OF LATE CAPITALISM AND THE WORLD SYSTEM

Capitalism

... percent in seventeen of the twenty three annually. Therefore, the economic hard times in the United States should be blame on poor political and economic policies instead of discarding the use democratic system to consummate Capitalism, the government should adjust policies that would enable them apply capitalism to their advantage. Work Cited Ingham G. Capitalism. New York: Polity, 2008. Print... Capitalism The United s plunged into an economic crisis in 2008 and 2009. This situation escalated, and it became an irresistible opportunity for the United States to pronounce the failure of the type of capitalism that had emerged towards the end of the twentieth century. The French President, Nicolas Sarkozy...
3 Pages(750 words)Essay

Communism vs. Capitalism. My Ideal Government System

...by individuals through market mechanism with little government intervention. The resources are owned and controlled by private individuals hence difficult to control the economy and steer it to growth (Grant & Vidler, 23). Various factors such as climate affect the market leading to uncertainty about the future. Conclusion Communism system of government is better than capitalism in that it ensures there are no income and wealth inequalities, balance of payments is controlled, the economy is at full employment, inflation is controlled, and public as well as merit goods are availed by the state. The level of education and health standards are thus high unlike in capitalism where education...
4 Pages(1000 words)Essay

Theories of Late Capitalism in the World System

... Theories of Late Capitalism Question Part In the immediate post-war period, the US Capitalist was keen to implement Keynesian-type policies in both international and local activities, provided economic conditions and political forces prevailing at the time permitted those policies as effective. Among the most significant conditions emphasized was the insatiable demand for United States manufacturers from both abroad and at home, and the lack of significant competition for the US labor and capital. The latter enabled the US labor force to demand for better benefits and wages while simultaneously enjoying higher employment rates (Harvey 189). The global market was significantly expanding in the late 1960s and early 1970s, resulting... refer...
9 Pages(2250 words)Essay

Modern World Theories

...of the international institutions in the preservation of international peace as crucial. The international institutions that interest the Liberalists the most are the UN, the European Union, the Organization of American States and the like. The theory has ever affirmed the great relevance of the international institutions. Even at the failure of the League of Nations, the theory has upheld the role of the United Nations and the European Union, the two successful international institutions after the World War II. Liberalism recognises the significance of such International Institutions in the International economic, politic, commercial, socio-cultural and other activities. Liberalism has...
14 Pages(3500 words)Essay

Legitimation Problems in Late Capitalism

...What Does a Crisis Mean Today Legitimation Problems in Late Capitalism " This conflict (within Capitalist Society) has the following form: on the one hand, the priorities set under the economic imperatives cannot be allowed to depend upon a discursive formation of the public will- therefore politics today assume the appearance of a technocracy. On the other hand the exclusion of consequential practical questions from discussion by the depoliticized public becomes extremely difficult as a result of the long term erosion of the cultural tradition which has regulated conduct and which, until now, could be presupposed as a tacit boundary condition of the political system, Because of this a...
6 Pages(1500 words)Essay

Political Economy (Theories of Late Capitalism)

..., however, views post modernity not as a unique case and consider it as a constant aspect of capitalism and relate it to the phenomenon which is cultural specific. This view is relatively contradictory as compared to the views of Frieden or even Rifikin. Frieden view the last three decades of previous century as a continues evolution. The transition to integrated global world and the resulting social changes that globalization brought are described by Frieden in relatively different manner as compared to Harvey who largely viewed post modernity as unstable and volatile phenomenon. (Harvey). His ideas however, coincide with the ideas of Rifikin because he also views the changes in production...
7 Pages(1750 words)Essay

Political Economy (Theories of Late Capitalism)

...demand, deficit spending, and easy credit allowed many high-cost, low-profit firms that would otherwise have gone bankrupt to continue in business and maintain positions that might have been occupied by lower cost, higher-profit producers” (Wallace 122). Strengths and weaknesses of Brenner’s interpretation of late capitalism. While his work has been perceived hallmark for political economy of the world, it has also earned many critics. Accordingly, his work has been called flawed in, chiefly, three ways. First, his theory of over competition is supposed to be flawed because of same shortcomings, he himself pointed out in profit squeeze. Secondly, Brenners past...
8 Pages(2000 words)Essay

Capitalism

...The industrial revolution marked the era when humanity began to mass produce goods. This important era in business history occurred due to the influence of capitalism. “The factory system implemented during the industrialization allowed for work to be done at a much more efficient rate than before, and it wasnt long before the factory system was put into effect in the other industries” (McKinney, 2008). Capitalism enabled many entrepreneurs to build factories that generated thousands for jobs. The steam engine was one of the major innovations of the era. Karl Max was a revolutionist during the industrial revolution. He was a socialist that had very peculiar views about...
1 Pages(250 words)Essay

Capitalism

...of economics while Newton discovered natural laws of motion. John Millar declared Smith as Newton’s political economy. Both contributed to the project of social cohesion and balance. According to Newton, simplicity pleases nature but focuses on economy which was embarrass by Smith. Why Ricardo and Malthus were pessimistic about the future of capitalism. Ricardo and Malthus are pessimistic about the future of capitalism. Malthus from his theory fail to anticipate production advances that technology can influence agriculture. Due to industrialization, people work less and fewer lands are put into use. Agricultural produce have then deteriorate. On the other hand, Ricardo believed that due...
1 Pages(250 words)Essay

Capitalism

...Capitalism Capitalism refers to a social and political system whereby production and distribution of goods is owned by asmall fraction of the society, who are known as the capitalist class, and the other group referred to as the working class must work in order to get a means of livelihood (World Socialist Movement). In this form of government, the working class is under the control of the capitalist class as they are supposed to work and produce goods which will be sold by the capitalist class at a profit (Knight). This means that the rich will accrue wealth by exploiting the majority population, and they will achieve this by encouraging people to work in order to get...
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic THEORIES OF LATE CAPITALISM AND THE WORLD SYSTEM for FREE!

Contact Us