Capitalism in the 21st Century: A Marxist Perspective

A Marxist understanding of the ills of capitalism is applicable to 21st -century capitalism. Motivated by surpluses, capitalism become global in its endeavour of outsourcing production and capital labour substitution. As a result, the capitalist core established an exploitative relationship with the developing and under-developed third world countries. In order to protect their interests and to keep the antagonistic feelings below the threshold, the bourgeoisie elite utilized every tool available to strengthen their control over the resources, maintained their hegemony and absorb counter-hegemonic ideas. The article is an attempt to understand the Marxist interpretation of capitalism and debate in its relevance to 21st -century international politics. With the help of the Iraq war, the article concludes that Marxism and Marxist inspired theoretical interpretation is the best lens to explain the operation of capitalism at the world stage.