The Process of Globalisation and Class Transformation in the West

Abstract

In this article the contemporary international capitalist system is examined and a rising New International Division of Labour is defined. It is argued that while in previous epochs an international market of commodities existed, during the post-war period a global network of closely interconnected production units and financial institutions has been created as well. But while production, finance and commerce are decentralised worldwide, their management and control is centralised in a few headquarters in the advanced capitalist countries. A colossal concentration of economic power and control over the world means of production, resources and labour force, unprecedented in the history of capitalism, is taking place. Information Technology is shown to be the current day means of centralisation of organisation and control of both material and service production by capital. It, at the same time, allocates work and degrades its knowledge content. Coupled with the prevalence of services in western society, it ...