IDEAS home Printed from https://ideas.repec.org/a/oup/cambje/v29y2005i5p769-797.html
   My bibliography  Save this article

Globalisation as commodification

Author

Listed:
  • Photis Lysandrou

Abstract

While recognising that most pre-capitalist formations exhibited elements of commodity exchange, Marx argued that capitalism differentiates itself as a genuine commodity system by virtue of two interdependent processes having reached a critical stage of development: a 'stretching' of commodity relations to the point where production for the market displaces subsistence production as the primary form; and a 'deepening' of commodity relations such that these encompass not only goods and services but the capacities for producing them. This paper argues that globalisation can best be understood as the culminating stage of these stretching and deepening processes: the former in the sense that commodity relations now embrace the entire planet and the latter in the sense that they cover not merely goods, or the capacities for producing goods, but also every other type of capacity and every other type of outcome. Copyright 2005, Oxford University Press.

Suggested Citation

  • Photis Lysandrou, 2005. "Globalisation as commodification," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 29(5), pages 769-797, September.
    • Handle: RePEc:oup:cambje:v:29:y:2005:i:5:p:769-797
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1093/cje/bei025
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Photis Lysandrou, 2016. "The colonization of the future: An alternative view of financialization and its portents," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 39(4), pages 444-472, October.
    2. Fierro, Luca Eduardo & Giri, Federico & Russo, Alberto, 2023. "Inequality-constrained monetary policy in a financialized economy," Journal of Economic Behavior & Organization, Elsevier, vol. 216(C), pages 366-385.
    3. Botta, Alberto & Caverzasi, Eugenio & Tori, Daniele, 2020. "The Macroeconomics Of Shadow Banking," Macroeconomic Dynamics, Cambridge University Press, vol. 24(1), pages 161-190, January.
    4. Photis Lysandrou, 2014. "Post-Keynesian stock-flow models after the subprime crisis: the need for micro-foundations," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 11(1), pages 113-126, April.
    5. Eugenio Caverzasi & Daniele Tori, 2018. "The Financial Innovation Hypothesis: Schumpeter, Minsky and the sub-prime mortgage crisis," Working Papers PKWP1815, Post Keynesian Economics Society (PKES).
    6. Rodrigo Alves Teixeira & Tomas Nielsen Rotta, 2011. "Modern Rent-Bearing Capital: New Enclosures, Knowledge-Rent and the Reproduction of Valueless Commodities," Anais do XXXVII Encontro Nacional de Economia [Proceedings of the 37th Brazilian Economics Meeting] 008, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    7. Photis Lysandrou, 2011. "Global Inequality and the Global Financial Crisis: The New Transmission Mechanism," Chapters, in: Jonathan Michie (ed.), The Handbook of Globalisation, Second Edition, chapter 27, Edward Elgar Publishing.
    8. Photis Lysandrou, 2011. "Forum 2011," Development and Change, International Institute of Social Studies, vol. 42(1), pages 183-208, January.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:cambje:v:29:y:2005:i:5:p:769-797. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/cje .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.