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A Japanese Approach to Stages of Capitalist DevelopmentTheorizing the Neoliberal Era

A Japanese Approach to Stages of Capitalist Development: Theorizing the Neoliberal Era [Historical analysis as a level of analysis in Marxian political economy is used to examine the crisis of the golden age of consumerismcrisesconsumerist. It then turns to explore the responses by capital of two central crises problems of the stage of consumerismcrisesconsumerist—the necessity of increasing rates of exploitation in a way that does not simply recreate the difficulties of labour, demand, and capacity utilization in advanced economies; and the problem of capital becoming surplus or rendered idle by a dearth of productive profit-making investment opportunities in advanced economies. What is argued is that processes euphemized as globalization and financialization are, respectively, the response mechanisms of capitalism to these problems. However, because globalization leads to outsourcing the making of things to quasi-proletarian populations in the third world leaving an employment deficit in advanced economies while financialization produces economies of asset inflation end ever-exploding debt with its markets guaranteed by the state, both lead to the disintegration of capitalism and threaten humanity itself. While neoliberal ideology had promoted the economic changes as a return to the market, in fact the state, in advanced economies, has assumed a herculean role far outstripping its support for the welfare statewelfarewelfare state in the stage of consumerism.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Japanese Approach to Stages of Capitalist DevelopmentTheorizing the Neoliberal Era

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Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2022
ISBN
978-3-030-99036-7
Pages
291 –339
DOI
10.1007/978-3-030-99037-4_10
Publisher site
See Chapter on Publisher Site

Abstract

[Historical analysis as a level of analysis in Marxian political economy is used to examine the crisis of the golden age of consumerismcrisesconsumerist. It then turns to explore the responses by capital of two central crises problems of the stage of consumerismcrisesconsumerist—the necessity of increasing rates of exploitation in a way that does not simply recreate the difficulties of labour, demand, and capacity utilization in advanced economies; and the problem of capital becoming surplus or rendered idle by a dearth of productive profit-making investment opportunities in advanced economies. What is argued is that processes euphemized as globalization and financialization are, respectively, the response mechanisms of capitalism to these problems. However, because globalization leads to outsourcing the making of things to quasi-proletarian populations in the third world leaving an employment deficit in advanced economies while financialization produces economies of asset inflation end ever-exploding debt with its markets guaranteed by the state, both lead to the disintegration of capitalism and threaten humanity itself. While neoliberal ideology had promoted the economic changes as a return to the market, in fact the state, in advanced economies, has assumed a herculean role far outstripping its support for the welfare statewelfarewelfare state in the stage of consumerism.]

Published: Jul 1, 2022

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