Global Capitalism: The New Leviathan

For all Marxists, and most non-Marxists, this book is simply unique. Professors Ross and Trachte have designed a framework accounting for the change in the class balance of power resulting from the globalization of capital. They then apply this framework to three case studies, thereby showing how the owners of capital have become stronger vis a vis the state and labour, with the result being an intensification of class struggle on a global scale, resulting in the rollback of many of the gains made by the working class earlier on in this century, (such as the welfare state, minimum wage laws, etc..) They also explain why earlier theories, (monopoly capitalism and world systems,) are inadequate insofar as explaining the global economy of the 1990's is concerned. Their own theory of global capitalism, on the other hand, does this brilliantly; for anyone who wishes to understand the fundamentals of the international economy, this book is invaluable.