Part II:
Global neoliberal capitalism presents the major form of economic coordination and political control in the world economy. The book distinguishes between globalisation and neoliberalism, and explains what global neoliberalism is, why it has appeal, what alternatives have been tried and why they have failed. The rise of neoliberalism is presented as a failure of 20th-century state-led economies to satisfy the aspirations of their citizens under conditions of advanced capitalism. The author provides a sociological understanding of post-industrial society on which different forms of economic and political coordination have to be predicated. He considers in detail both the strengths and weaknesses of social democracy and state socialism, and explains why and how these alternatives either disintegrated or were dismantled. He discusses developments in Great Britain, the post-socialist states of Eastern Europe and the USSR, and China. He distinguishes between globalisation and internationalism and analyses developments within states as well as the shift from a concentric geo-politics to a bi-polar world system. The author identifies key areas where embedded neoliberalism may be faulted. Replacements are considered in terms of alternative forms of capitalism and alternatives economies to capitalism. The book defines the limits and opportunities of four major challenges to global neoliberal capitalism: the reform and democratisation of global capitalist institutions; the strengthening of states against transnational interests; the reversal of globalising tendencies and the introduction of autonomous self-sustaining democratic economies; and proposals for instituting a global form of socialism. The author finally proposes something new: a system of economic and political coordination based on a combination of market socialism and state planning.
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