System in Crisis

Mounting hostility to the hegemony of the United States; tumbling stock markets; environmental destruction; sluggish economic growth, unprecedented income inequality, and growing poverty: something fundamental is wrong, argue Petras and Veltmayer. They assert that globalization is a mere euphemism for capitalism in its current global, imperialist projection. They show how resistance to capitalist globalization is being organized among very diverse social sectors, from rural peasants to the middle class in wealthy countries of the North. They conclude their analysis by assessing the possibilities for unifying the diverse forces of opposition to neoliberalism, capitalism and imperialism and the prospects for an alternative socialist form of development.

James Petras was Professor of Sociology, Binghamton University.

Henry Veltmeyer is Professor of Sociology and International Studies, Saint Mary's University, Halifax, Nova Scotia, and adjunct professor of Political Science, Universidad Autonoma de Zacatecas, Mexico.