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Marx on the Global Reach of Capital

  • Paresh Chattopadhyay
Chapter
Part of the Marx, Engels, and Marxisms book series (MAENMA)

Abstract

In this chapter, the term “globalization” refers to the globalization of capital, where “capital” signifies the capitalist relation of production characterized by the separation of the immediate producers from the means of production, resulting in the existence of wage and salary earners on the one side and the owners of the means of production-capitalists-on the opposite side. Capital’s globalization means the existence and movement of capital with the whole world as its theatre of operation. The term “globalization” does not appear in Marx’s work. Instead, he speaks of a “world market.” “World market,” along with “external trade,” figure among the unrealized parts of Marx’s economic project. Nevertheless, Marx returns many times to both “world market” and the closely connected “external trade” as the two key categories for investigating what he calls the “economic law of motion of modern society” (1996: 10). Though globalization involves many different aspects of people’s lives across the globe-economic, political, cultural, environmental, etc., it is the economic aspect which is the most glaring and directly affects people’s daily life. The text that follows is, indeed, basically concerned with the economic aspect of globalization, mainly at a theoretical level.

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Authors and Affiliations

  • Paresh Chattopadhyay
    • 1
  1. 1.University of Quebec in MontrealWestmountCanada

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