Global Capitalism: A View from the Periphery - Unveiling the Intricate Tapestry of Neo-Liberal Hegemony and its Enduring Legacy

Few academic works possess the intellectual rigor and insightful observations found in “Global Capitalism: A View from the Periphery” by Professor Kim Dae-jung. This seminal text, originally published in 2012, dissects the complexities of global capitalism with a discerning eye, offering a compelling analysis from the vantage point of the Global South.

Professor Kim, a renowned economist and social theorist, challenges the dominant narratives surrounding globalization, arguing that it is not a neutral force but rather a system intrinsically linked to power imbalances and historical inequalities. He meticulously traces the evolution of global capitalism, illuminating its origins in colonialism and its subsequent transformation under the aegis of neoliberalism.

The book’s core argument revolves around the concept of “peripheralization,” a process whereby developing countries are systematically integrated into the global economy on terms that perpetuate their dependency and underdevelopment. Professor Kim argues that this integration often manifests through exploitative trade practices, unequal access to financial markets, and the imposition of neoliberal economic policies that prioritize privatization, deregulation, and austerity measures.

Delving Deeper: Key Themes and Arguments

Professor Kim’s analysis is underpinned by a comprehensive theoretical framework that draws upon diverse intellectual traditions, including Marxism, postcolonial theory, and dependency theory.

Here are some key themes and arguments explored in the book:

• The historical roots of global capitalism: Professor Kim argues that the current iteration of global capitalism has deep historical roots in colonialism and imperialism. He traces how European powers exploited colonial possessions for raw materials and cheap labor, establishing a system of unequal exchange that continues to shape global economic relations today.
• Neoliberalism as a hegemonic ideology: The book critically examines neoliberalism as a dominant ideological framework that promotes free markets, individual responsibility, and limited government intervention. Professor Kim contends that this ideology serves to legitimize the interests of multinational corporations and financial institutions, while masking the inherent inequalities and power imbalances embedded within the capitalist system.
• Peripheralization and underdevelopment:

Professor Kim meticulously analyzes the process of peripheralization, demonstrating how developing countries are often relegated to producing raw materials or low-value manufactured goods for export. This pattern of specialization hinders industrial diversification and technological advancement, leading to chronic dependence on developed economies.

• Alternatives to global capitalism: The book concludes by exploring alternative models of economic development that prioritize social justice, environmental sustainability, and participatory democracy. Professor Kim suggests that building a more equitable and sustainable world order requires challenging the hegemony of global capitalism and fostering solidarity among marginalized communities across the Global South.

Production Features and Impact

Published by Seoul National University Press, “Global Capitalism: A View from the Periphery” has garnered significant acclaim within academic circles, receiving praise for its meticulous research, insightful analysis, and accessible writing style.

The book features a comprehensive bibliography, detailed footnotes, and clear chapter headings that enhance readability and facilitate deeper engagement with the material. Its impact extends beyond academia, as it has sparked important discussions about globalization and economic justice among policymakers, activists, and concerned citizens alike.

Table: Key Concepts in “Global Capitalism: A View from the Periphery”

Professor Kim Dae-jung’s intellectual legacy continues to resonate in contemporary debates surrounding globalization and social justice. “Global Capitalism: A View from the Periphery” stands as a powerful testament to his commitment to critical thinking and his unwavering belief in the possibility of building a more just and equitable world.