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On Bertell Ollman's Market Socialism: The Debate Among Socialists and Michael Howard's Self-Management and the Crisis of Socialism
Anchored in contemporary debates on capitalism and political economy, this study reconsiders the major trends which are currently shaping a new stage of capitalism. With chapters examining globalization, the role of technology and environmental degradation, George Liodakis constructs a politico-economic approach on contemporary capitalism from within a classical Marxist framework of political economy. The volume provides a fitting balance between theory and empirical evidence and significantly enriches the existing scholarship on contemporary capitalism and the potential for social change. This is an important contribution to those interested in international political economy, in particular with developing a new political strategy for going beyond capitalism: a 'reinvention' of a communist perspective.
Dealing with the periodisation and current development of capitalism, this paper starts with a theoretical and historical assessment of imperialism in its Leninist conception. It is argued that the c urrent developments and the rising g lobalisation of capitalism lead to a dialectical supersession of imperialism. Based on contemporary economic conditions and the c urrent discussion regarding internationalisation / globalisation of capital, it is argued that a new stage in the development of capitalism i s currently emerging, which is called transnational or totalitarian capitalism. After analysing the structural characteristics and the basic trends of this new stage of capitalism, an attempt is made to compare this theoretical conception with that of the Empire offered by Hardt & Negri. It is argued that the former approach constitutes a more adequate framework for understanding the current restructuring of capitalism. This approach and Marxian economic theory in general, updated also by some other contributions such as those proposed by the Uno school, can offer a robust t heoretical framework for both understanding capitalist developments and prefiguring a prospective socialist society.
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