Social Sciences, asked by dhobirajeshwari, 7 months ago

Socialism required a global face by​

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Answered by kraman102003
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Explanation:

Socialism in the Era of Globalisation

Sitaram Yechury

Globalisation, as the present phase of world capitalist development is known as, is a development that can be understood mainly on the basis of the internal laws and the dynamics of the functioning of the capitalist economic system. Karl Marx, in his seminal work Das Kapital, had shown us that as capitalism develops, it leads to the concentration and centralisation of capital in a few hands. As a result of this law, huge amounts of capital get accumulated. This, in turn, needs to be deployed to earn profits which is the raison d'etre of the system.

Towards the end of the 20th century, more specifically in the decade of the eighties, this process of centralization led to gigantic levels of accumulation of capital. The beginning of the nineties saw the internationalisation of finance capital which had grown in colossal leaps. In 1993, the global stock of principle derivatives was estimated to be over $20 trillion. Subsequently, this globally mobile finance capital had acquired unprecedented dimensions. Currently, the turnover in the global financial transactions is estimated to be over $400 trillion, or, nearly 60 times the annual global trade in goods and services estimated to be around $ 7 trillion.

This huge accumulated finance capital required absolutely no restrictions on its global movement in search of predatory speculative profits.

Simultaneously, the huge accumulation of capital taking place with the multinational corporations, the assets of some of whom outstrip the combined GDPs of many developing countries, also created conditions which required the removal of all restrictions on the movement of this industrial capital in search of super profits. Similar pressures also developed for the removal of all trade barriers and tariff protection.

Thus, the laws of capitalist development by themselves created the objective conditions for the current phase of globalisation whose essential purpose is to break down all barriers for the movement of capital and to dovetail the economies of the developing countries to the super profit earning drive of multinational corporations. This is sought to be achieved by the global trimoorti, viz, IMF, the World Bank and the WTO. The objective that clearly emerges is one of seeking the economic recolonisation of the developing countries or the third world.

As this process of globalisation was underway came the collapse of the former Soviet Union and some of the socialist countries in Eastern Europe. While it is a matter of a separate discussion to examine whether the process of globalisation and the collapse of the Soviet Union were merely coincidental, or, are related in some manner, it is sufficient for us to note here that this convergence at the beginning of the decade of nineties set in motion a renewed aggressiveness by the remaining superpower, USA.

The visions of a "new world order" under the US leadership unfolded. The efforts to impose a comprehensive US hegemony on all global matters was unleashed. The natural tendency in the post-Cold War bipolar international situation was the movement towards multi-polarity. This is sought to be short-circuited by USA and in its place create a world of uni-polarity under its tutelage.

These efforts have been intensified further following the September 11, 2001 terrorist attacks in the United States. The "war against terrorism" has today replaced with Cold War imperialist slogan of "war against Communism" as the excuse and pretext to militarily intervene in sovereign independent countries to advance US hegemonic interests.

Thus, under globalisation, what we are witnessing today is an effort towards the economic recolonisation of the third world and simultaneously a world that is sought to be dictated and ruled upon by US-led imperialism.

While these are the objectives that imperialism seeks to achieve, certain other features of globalisation need to be noted. These are important to underline the fact that for the bulk of humanity, globalisation means nothing else, but greater misery and exploitation.

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