Paul Boccara's analysis of global capitalism. the return of the Bourbons, and the breakdown of the Brussels / Paris neo-liberal consensus
Globalization and monopolies lead towards stagnation. Paul Boccara emphasized this since the early 1970s. Some other great political economists of the instability of the international order, like Rosa Luxemburg and Otto Bauer, foresaw the dark clouds of major inner-capitalist wars on the horizon, and in the light of our analysis, we are not too far away from such dark times, if the logic of 'madness' called contemporary globalization is not corrected. Boccara, over the last decades, provided a coherent framework of analysis, which reached similar policy prescriptions, independently from the Steindl/Kalecki approach in political economy. A Boccaran worldview would hold that the contradictions of global capitalism increase over time, if markets are left for themselves. Boccara is right in stressing that this system is, as he puts it, 'mad' because its logic of profitability is reaching its climax. Capitalism as a system, which puts making money before and against people lives, needs to be questioned. It is really futile to speak of 'morality' and 'transparency' without attacking the logic of the system.
Volume (Year): (2010)
Issue (Month): 12 (Fall)
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