The End of Capitalist Globalization

Abstract

Arguing that globalization is more than an ideology, an attempt is made to distinguish between the generic concept & its most common manifestation, ie, capitalist globalization. Two defining characteristics of generic globalization are examined: the electronic revolution (primarily involving technological infrastructure & the mass media), & the creation of transnational social spaces that give rise to new forms of cosmopolitanism. Using global systems theory, alternatives to capitalist globalization are identified: (1) internationalist (state-centrist); (2) transnationalist (globalization as a contested world historical project with many variants); & (3) globalist (the neoliberal capitalist project). Despite their differences, all of these approaches maintain that contemporary world problems must be addressed beyond the level of the nation-state. It is contended that capitalist globalization cannot succeed in the long run because it is unable to resolve two pressing world problems: class polarization & ecological unstainability. K. Hyatt Stewart