Capital's Onslaught (after 1970): Neoliberalisation, Globalization, Financialization and Wars for Resources

Abstract

The period from 1980 onwards is referred to as the phase of globalization and liberalization. This phase is also associated with financialization and wars for hegemonic control over global resources. All these developments during this period need to be understood in terms of capital’s renewed thrust to create conditions favorable for accumulation inside both the center and the periphery. An important question here is to understand the peculiar historical conditions that made it possible for such a sea-change to occur in the global economy and that too so easily without much resistance. We explore all these issues in our paper.

Keywords: World System, Neo-Liberalization, Globalization, Financialization, Wars for Resources