The Globalisation Bandwaogon-- A Global SouthPerspective

The book provides a look at the political economy of globalisation from the perspective of the developing countries, also known as the ‘Global South.’ The books is a b boon for academics, economists, journalists, students of economics, political science, sociology and international relations as well as lay citizens interested in the workings of the contemporary world. Some of the issues discussed, with particular emphasis on the conceptual and philosophical aspects. are:  Globalisation as integration of the world economy, driven by capital’s inherent tendency to expand and seek areas of higher profit, assisted by advancements in transport and communications—predicted by Marx in mid-19th century.  Evolution of economic thought over the last few centuries.  Impact of premature liberalisation, deregulation and privatisation of strategic assets on the developing countries’ economic development.  Introduction to World System Theories that give an insight into understanding the contemporary world. And the role of nation-states and non-state actors, especially Multinationals, in a world with rapidly integrating economy and an anarchic state system.  The dichotomy in policies advanced capitalist states, regarding capital and labour mobility across national frontiers.  The current global financial crisis, the most severe since the Great Depression,  The great gap in the prices of finished goods and raw materials and the tremendous wage difference between the developed and developing worlds. Is OPEC an answer to the industrialised world’s monopolies and cartels? Who is the ultimate loser in this situation?  The policy followed after 9/11 by the then ruling military junta in Pakistan—an evidence of the collaboration that, Wallerstein asserts, exists between the ruling elites of most developing states and the advanced capitalist world? Plus, the dominant classes’ ambivalent response to modernisation, militancy, democracy and economic issues. Corruption, flight of capital and Pakistan’s chronic recourse to IMF. What compels them to seek foreign ‘aid?’ How do such policies impinge on socio- economic development? Could the trillions stashed away abroad by the developing world’s rich elite be brought back?