Abstract
The development of capitalism is always uneven and crisis-prone. The gap between developed countries and developing countries has grown wider since the 1980s, while the emerging economies including BRICS (Brazil, Russia, India, China and South Africa) have grown faster than developed countries, occupying a growing share of world GDP especially since the 2008 world economic and financial crisis. But developed countries still take most surplus value in the world through various financial powers and rigged trade deals which favour them over emerging economies and transfer and deepen all kinds of contradictions in ecology, class, race, and gender to developing countries. At this juncture, June 2015, world scholars of Marxism gathered together in Wits University, South Africa, to discuss the uneven and crisis-prone development of capitalism from the perspective of Marxian economics. Topics to be discussed include the current situation of uneven development, its forms and representations, and causes and solutions both theoretically and practically.
Highlights
The gap between developed countries and developing countries has grown wider since the 1980s, while the emerging economies including BRICS (Brazil, Russia, India, China and South Africa) have grown faster than developed countries, occupying a growing share of world GDP especially since the 2008 world economic and financial crisis
The World Association for Political Economy (WAPE) is an international academic organization founded by Marxian economists and related groups around the world
The Distinguished Achievement Awards of World Political Economy of the 21st Century were awarded to ten Marxist economists: Professor Martin Legassick at the University of the Western Cape, South Africa; Professor Nanping Jiang from Southwest University of Finance and Economics, China; Professor Jacklyn Cock from the University of the Witwatersrand, South Africa; Professor Satoshi Matsui from Senshu University, Japan; Professor Pritam Singh from Oxford Brookes University, UK; Professor Chuming Wang from Shanghai Lixin University of Commerce; Professor Sam Moyo from the Africa Institute for Agrarian Studies, Zimbabwe; Professor Zhan Shu from Fuzhou University, China; Professor Balwinder Singh Tiwana from Punjabi University, India; and Professor Vishwas Satgar from the University of Witwatersrand, South Africa
Summary
Professor David Kotz from the University of Massachusetts Amherst, USA, argued that to understand a severe economic crisis such as that of 2008, it is not sufficient to analyze capitalism-in-general along with various economic policy decisions and contingent events. He argued that climate change will increasingly confront communities throughout the world with profound challenges Depending on their locational and economic characteristics, small regions may face threats to existing industries, energy sources and usage, transportation systems, and built environments. This neoliberal ideology is dominating the economic and political spheres of third-world nations and is molding cultural and social affairs according to the needs of international finance capital In this process, the state is working as an agent of international finance capital without any veil. The distinction between different forms of deindustrialization allows for an arguably richer analysis of this phenomenon than in more narrowly sector-based approaches He argued that the Marxian analysis of sectorial structure and of activity specificity developed here would have led to more definitive conclusions about the projected effects of deindustrialization on growth. This would depend on the processes identified in his paper being outweighed by countervailing factors or forces
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