Marx, International Political Economy and Globalization by Burnham Peter

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The article “Marx, International Political Economy and Globalization” by Burnham Peter provides a comprehensive examination of the contributions made by the “Conference of Socialist Economists (CSE) tradition” to the study of international relations and the current globalization trend. According to Burnham, the most significant contribution to the creation of a comprehensive radical analysis of the current state of the global economy has been Marx’s theory of capitalist society, which is based on the categories of value, surplus, capital, and class. The writer attempts to understand how to explain Marx’s political economy technique by using analysis and macro- and microeconomics concepts. Provides a critique of capitalism’s political economy about its historical, social, and material foundations, which helps to explain and understand the nature of capitalism, how it works, the causes of social and economic inequality, and the various forms of production it uses in industrialized capitalist societies. CSE education saved Marx’s critique of political economics from bourgeois social science, significantly aiding capital’s objectives.
The article discusses IPE, or international political economy, which refers to the fusion of politics and economics as commodities, services, money, people, and ideas travel across international boundaries. According to Burnham, IPE has always had a significant Marxism gap. The gap has widened because of the absence of severe involvement with lass investigation in existing Marxism. IPE is a renowned concept that discusses the enlargement of worldwide production and its impact in developing a transnational class framework that managed to make their notions hegemonic worldwide. These Marxian researchers used these Gramscian conceptions of political, financial, and cultural hegemony to demonstrate the increasing dominance of this group of transnational capitalists.
This IPE branch of Marxist literature effectively offers devices to aid people in comprehending how transnational capitalists started to plan politically in the early 1970s to develop a worldwide reaction to capitalist crises. Nevertheless, this method functioned almost solely at the high-range theory level, exploring the undercurrents of capitalist accumulation on a global scale yet constantly sacrificing a more fine-grained, mid-range approach that would permit for inspection of transnational capitalist political alliances in the framework of a specific regional or countrywide environment. Consequently, the prevailing IR Gramscian theories always have not focused on how transnational capitalists grapple with other capital segments or opposing interests in the class struggle or business struggle process. Similarly, these theories have rarely been correlated to those of Marxian economists who widely wrote on the procedure of surplus value removal in the present transnational capitalist framework of buildup.
The author’s goal is clear: to demonstrate that Marx always had in mind the global (world-level) nature of capitalist growth. The author cla...