Global Money, Capital Restructuring and the Changing Patterns of Labour

The last two decades have seen a reshaping of the international economy together with a radical weakening in the conditions of the working class. New productive techniques and methods in the organization of labour have been implemented on a world-wide scale partly as a consequence of the financialization of capital. The geographical diffusion of market relations has continued and with it the dominance of capital in all realms of social reproduction. In charting this change, the book offers an alternative view of contemporary capitalism. It has been suggested that we are entering a new phase where the `globalization' of economic activities is fully achieved, where `post-Fordist' regulation has overcome the crisis of Keynesian capitalism, and where the dominant tendency is towards the `end of work'. In contrast to this view, the authors of this book argue that current internationalization is not a structure, but a contradictory process and that new patterns in the division of labour while successful in increasing the pressure over workers have not been able to supersede Fordism entirely. They conclude that the slow growth of the economies, caused by neoliberal economic policies, is a crucial factor in explaining unemployment and the fragmentation of labour.