British Capitalism, ‘Exceptionalism’ and Marxist Theory
In this and similar observations on the political consequences of periodic economic crises in the mid-1850s, Marx clearly believed that the dislocations brought about by capitalist overproduction would have the effect of finally removing the archaic political alliances which were incapable of giving adequate expression to the major social forces of the capitalist mode of production — the industrial bourgeoisie and the working class. In other words, Marx considered that political relations would now more closely approximate the real material relations of society between the expropriators and producers of surplus value.
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Notes and References
- 1.Karl Marx and Frederick Engels, On Britain (Moscow: Foreign Languages Publishing House, 1962) p.426.Google Scholar
- 8.Philip Stanworth and Anthony Giddens, Elites and Power in British Society (Cambridge University Press, 1974) p. 100.Google Scholar
- 11.Gabriel Almond and Sidney Verba, The Civic Culture (Princeton University Press, 1965).Google Scholar
- 16.E.P. Thompson, ‘The Peculiarities of the English’, in Ralph Miliband and John Saville (eds) Socialist Register (London: Merlin, 1965)Google Scholar
- 29.Karl Marx, ‘The Elections — Tories and Whigs’ (New York Daily Tribune, 21 August 1852); See also ‘The Chartists’ (New York Daily Tribunne, 25 August 1852), both in T.B. Bottomore and Maximillien Rubel (eds) Karl Marx: Selected Writings in Sociology and Social Philosophy (London: Watts, 1956) pp. 191–200.Google Scholar
- 33.Frank Longstreth, ‘The City, Industry and the State’, in C. Crouch (ed.) State and Economy in Contemporary Capitalism (London: Croom Helm, 1979).Google Scholar
- 40.Nicos Poulantzas, ‘The Capitalist State: A Reply to Miliband and Laclau’, New Left Review, 95 (January–February 1976) p.74.Google Scholar
- 55.Sam Aaronovitch and Ron Smith with Jean Gardiner and Roger Moore, The Political Economy of British Capitalism: A Marxist Analysis (Maidenhead: McGraw-Hill, 1981) p.61. See David Cobham’s review in Politics and Power, 4 (London: Routledge & Kegan Paul, 1981)Google Scholar
- 57.See Leland Jencks, The Migration of British Capital to 1875 (New York: Alfred Knopf, 1927).Google Scholar
- 58.See, for example, Robert Gilpin, US Power and the Multinational Corporation: The Political Economy of Foreign Direct Investment (New York: Basic Books, 1975) especially ch. III, ‘The British Strategy of Portfolio Investment’.Google Scholar
- 59.See the data in Peter Mathias, The First Industrial Nation (London: Methuen, 1969) p.305,Google Scholar
- and J.R. Sargent, ‘UK Performance in Services’, in Frank Blackaby (ed.) Deindustrialisation (London: Heinemann, 1979).Google Scholar