Globalization and Stagnation

Abstract

It is relatively clear that globalization, the international spread of capitalist exchange and production relationships, is a very destructive and painful process. The implementation of the North American Free Trade Agreement (NAFTA) will provide some very stark examples over the next several years. In Mexico, peasants are likely to suffer final extinction as a class, as they are driven off the land by competition from large-scale U.S. grain producers. In the United States, many workers with relatively low-level and task-specific skills—such as broom makers in Alabama, glass makers in West Virginia, and workers connected to auto production throughout the country—will lose their jobs or see their wages dramatically reduced.

This article can also be found at the Monthly Review website, where most recent articles are published in full.

Click here to purchase a PDF version of this article at the Monthly Review website.