Adam Smith in Beijing: Lineages of the Twenty-first CenturyIn the late eighteenth century, the political economist Adam Smith predicted an eventual equalization of power between the conquering West and the conquered non-West. Demonstrating Smith's continued relevance to understanding China's extraordinary rise, Arrighi examines the events that have brought it about, and the increasing dependence of US wealth and power on Chinese imports and purchases of US Treasury bonds. He traces how the recent US attempt to bring into existence the first truly global empire in world history was done in order to counter China's spectacular economic success of the 1990s, and how the US' disastrous failure in Iraq has made China the true winner of the US War on Terror. Smith's vision of a world market society based on greater equality among the world's civilizations is now more likely than at any time since "The Wealth of Nations" was published in 1776. In the 21st century, China may well become again the kind of non-capitalist market economy that Smith described, under totally different domestic and world-historical conditions |
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Page 83
... capital accumulation . Let us briefly examine each in turn . Marx draws a distinction between concentration of capital - the increase in size of individual capitals arising from accumulation - and centralization of capital , which ...
... capital accumulation . Let us briefly examine each in turn . Marx draws a distinction between concentration of capital - the increase in size of individual capitals arising from accumulation - and centralization of capital , which ...
Page 216
... capital is literally fixed in and on the land in some physical form for a relatively long period of time ( depending on its economic and physical lifetime ) . Some social expenditures ( such as public education or a health - care system ) ...
... capital is literally fixed in and on the land in some physical form for a relatively long period of time ( depending on its economic and physical lifetime ) . Some social expenditures ( such as public education or a health - care system ) ...
Page 351
... capital but by a process of development based on indigenous traditions — including the revolutionary tradition that gave birth to the PRC . Foreign capital intervened late in the process , sustaining it in some directions but ...
... capital but by a process of development based on indigenous traditions — including the revolutionary tradition that gave birth to the PRC . Foreign capital intervened late in the process , sustaining it in some directions but ...
Contents
Marx in Detroit Smith in Beijing | 23 |
The Historical Sociology of Adam Smith | 63 |
Marx Schumpeter and the Endless | 79 |
Copyright | |
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accumulation by dispossession Adam Smith American Asia belle époque boom Brenner Britain British Bush administration Cambridge University Press capitalist capitalist development centers Chaos and Governance Chapter China Cold War contrast corporations countries created crisis of profitability currency developmental path division of labor dollar dominant Dutch East Asian economic development emergence empire escalating Europe European financial expansion force foreign Giovanni Arrighi Global Turbulence greater Harvey hegemony History Ibid imperial income increase India Industrial Revolution inter-capitalist competition interest International Herald Tribune investment Iraq Iraqi Japan Japanese late London long downturn Long Twentieth Century manufacturing Marx Marx's ment military Ming Modern nineteenth nonetheless over-accumulation overseas Chinese Plaza Accord policies political economy population protection Qing reforms region rise role rural Smith Smithian social spatial fix strategy struggle Sugihara surplus Taiwan tendency territorial theory tion transformation United Vietnam wages Wealth of Nations Western workers World Economy York