Labor-Capital Conflict: From Eurocentric Capitalism Towards. A Humanistic World Order

Ozay MEHMET

Abstract


Abstract. What Wells summarized in the first quote above was Eurocentric capitalism. It has now become the principal source of instability and inequality in the world. Speculation, not profit, is its driver; profit has taken a back-seat. Capital market, the arena for speculation, is disconnected from the real economy, particularly the labor market which rewards less and less the workers and producers. Rewards, as private wealth are increasingly in speculative capital gains which accrue to the top 1% elite, made up of stock market players and financial institutions, while the rest [workers, middle class and those in lower segments of the socio-economic pyramid] fall behind.

Keywords. Wealth; Economic Development; Health and Economic Development; Sustainability; Development Planning and Policy.

JEL. E21, F63, I15, Q56, O20.

 

Full Text:


References


Barnet, R., & Muller, R. (1974). The Global Reach, Simon & Shuster, New York: Simon & Schuster.

Barrett, S. (2007). “Why Cooperate” The Incentive to Supply Global Public Goods, New York: Oxford University Press.

Burnet, R. (1993). “The End of Jobs”, Harper’s Magazine, September.

Drydyk, J. & Penz, P. (1997). Global Justice, Global Democracy, Society for Socialist Studies, , Winnipeg/Halifax: Fernwood Publishing.

Eagleton, T. (2011). Why Marx Was Right? New Haven: Yale University Press.

Ghosh, B.N. (2006). Gandhian Political Economy, London: Ashgate.

Higgins, B. (1968). Economic Development, Principles, Problems and Policies, New York: Norton & Co.

Kitchen, G. (2001). Seeking Justice Through Globalisation: Escaping a Nationalisst Perspective, Pennsylvania: Pennsylvania University Press.

Mahbubani, K. (1992). “The West and the Rest”, The National Interest, Summer.

Mehmet, O. (1978). Economic Planning and Social Justice in Developing Countries, London: Croom Helm.

Mehmet, O. (1995). Westernizing the Third World, The Eurocentricity of Economic Development Theories, London: Routldege. Second (and expanded) Edition, 1999.

Mehmet, O., Mendes, E., & Sinding, R. (1999). Towards a Fair Global Labor Market, Avoiding A New Slave Trade, London: Routledge.

Piketty, T. (2014). Capital in the 21st Century, Harvard: Belknap Press.

Wright M.C. (1968). The Marxists, New York: Dell.

Negri, A. (1991). Marx Beyond Marx, Lessons on the Grundisse, translated by Henry Cleaver, Michael Ryan, Mauricio Vianno, Edited by Jim Fleming, London: Pluto Press.

Said, E. (1978). Orientalism, New York: Random House.

Sen, A. (1987). On Ethics and Economics, Oxford: Blackwell.

Sen, A. (1999). Development as Freedom, Oxford: Oxford University Press.




DOI: http://dx.doi.org/10.1453/jel.v2i4.485

Refbacks

  • There are currently no refbacks.


.......................................................................................................................................................................................................................................................................................................................................

Journal of Economics Library - J. Econ. Lib. - JEL - www.kspjournals.org

ISSN: 2149-2379

Editor: jel@ksplibrary.org Secretarial: secretarial@ksplibrary.org   Istanbul - Turkey.

Copyright © KSP Library