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Globalization, Crisis and Transformation: World Systemic Crisis and the Historical Dialectics of Capital

Lookup NU author(s): Professor Barry Gills

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Abstract

This article addresses the meaning of 'crisis' in both contemporary and historical perspective, utilising crisis as an analytical concept to understand transformation in socio-historical system structure and world order. It examines the nature of 'capital' and its relation to crisis through an understanding of the historical dialectics of capital(ism). The article presents a summary of a general theory of world systemic crisis, drawing upon analysis of world historical patterns, including the key factors: overextraction, overconcentration, underconsumption, and underinvestment, the concept of 'parasitic appropriation' or 'parasitic accumulation', 'hegemonic transition' and 'entropy'. It concludes with a discussion of the relation between globalization and crisis and the potential for a new radical politics of transformation in the context of the present global crisis.

Publication metadata

Author(s): Gills BK

Publication type: Article

Publication status: Published

Journal: Globalizations

Year: 2010

Volume: 7

Issue: 1-2

Pages: 275-288

Print publication date: 01/01/2010

Date deposited: 04/11/2010

ISSN (print): 1474-7731

ISSN (electronic): 1474-774X

Publisher: Routledge

URL: http://dx.doi.org/10.1080/14747731003593737

DOI: 10.1080/14747731003593737

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