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 25
... limits imposed on the extent of the market by the spatial scale and institutional setting of the process . When these limits are reached , the process enters a high - level equilibrium trap . It follows that , if Europe and China were ...
... limits imposed on the extent of the market by the spatial scale and institutional setting of the process . When these limits are reached , the process enters a high - level equilibrium trap . It follows that , if Europe and China were ...
Page 196
... limits . Economically , the limits were set by the need to keep interest rates low in order to revive the domestic economy after the 2000-01 crash on Wall Street , which 9/11 had further aggravated . Politically , the limits were set by ...
... limits . Economically , the limits were set by the need to keep interest rates low in order to revive the domestic economy after the 2000-01 crash on Wall Street , which 9/11 had further aggravated . Politically , the limits were set by ...
Page 220
... limits international competition , but blocks off opportunities for the profitable investment of surplus capital and ... Limits to Capital , p . 435 . 9925 24 24 G.W.F. Hegel , The Philosophy of Right ( New York , Oxford University Press ...
... limits international competition , but blocks off opportunities for the profitable investment of surplus capital and ... Limits to Capital , p . 435 . 9925 24 24 G.W.F. Hegel , The Philosophy of Right ( New York , Oxford University Press ...
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