Finance Capital Today: Corporations and Banks in the Lasting Global Slump

Francois Chesnais' book "The Global Trap" examines the operations of transnational corporations in the globalized world, using key Marxist concepts to explain the state of contemporary capitalism. He argues that large amounts of capital are seeking profitable investment in a setting of overproduction and low profits.

Format: Paperback / softback
Length: 310 pages
Publication date: 18 January 2018
Publisher: Haymarket Books

In this comprehensive examination of the current state of contemporary capitalism, French economist Francois Chesnais delves into fundamental Marxist concepts to elucidate the workings of transnational corporations in the globalized world of today. He posits that we are currently experiencing an economic era characterized by substantial capital seeking profitable investment amidst a backdrop of overproduction and limited profits. Chesnais further argues that the activities of these corporations transcend national boundaries, shaping the economic landscape on a global scale.

The author begins by exploring the historical roots of transnational corporations, tracing their evolution from local enterprises to global conglomerates. He emphasizes the role of capital accumulation and technological advancements in driving this transformation. Chesnais then delves into the economic mechanisms that govern the operations of these corporations. He discusses the concept of surplus value, which refers to the difference between the cost of production and the value that is extracted from the product. He argues that transnational corporations exploit this surplus value by outsourcing production to countries with lower labor costs, resulting in increased profits for the corporation.

Furthermore, Chesnais examines the impact of transnational corporations on the global economy. He highlights the concentration of wealth and power in the hands of a few multinational corporations, which he argues has led to increased inequality and social unrest. He also discusses the role of these corporations in perpetuating colonialism and imperialism, as they exploit resources and labor in developing countries for their own benefit.

To address these issues, Chesnais proposes several solutions. He advocates for greater regulation of transnational corporations, including stricter labor laws and increased transparency in their operations. He also suggests that governments should prioritize the development of local industries and economies, promoting sustainable development and reducing dependence on foreign capital.

In conclusion, Chesnais' analysis of the state of contemporary capitalism provides a valuable insight into the workings of transnational corporations and their impact on the global economy. He argues that we are living in a period of unprecedented economic inequality and that the activities of these corporations are contributing to this problem. By understanding the underlying mechanisms of transnational capitalism and proposing solutions to address these issues, Chesnais offers a roadmap for a more equitable and sustainable economic future.

In this comprehensive examination of the current state of contemporary capitalism, French economist Francois Chesnais delves into fundamental Marxist concepts to elucidate the workings of transnational corporations in the globalized world of today. He posits that we are currently experiencing an economic era characterized by substantial capital seeking profitable investment amidst a backdrop of overproduction and limited profits. Chesnais further argues that the activities of these corporations transcend national boundaries, shaping the economic landscape on a global scale.

The author begins by exploring the historical roots of transnational corporations, tracing their evolution from local enterprises to global conglomerates. He emphasizes the role of capital accumulation and technological advancements in driving this transformation. Chesnais then delves into the economic mechanisms that govern the operations of these corporations.

He discusses the concept of surplus value, which refers to the difference between the cost of production and the value that is extracted from the product. He argues that transnational corporations exploit this surplus value by outsourcing production to countries with lower labor costs, resulting in increased profits for the corporation.

Furthermore, Chesnais examines the impact of transnational corporations on the global economy. He highlights the concentration of wealth and power in the hands of a few multinational corporations, which he argues has led to increased inequality and social unrest. He also discusses the role of these corporations in perpetuating colonialism and imperialism, as they exploit resources and labor in developing countries for their own benefit.

To address these issues, Chesnais proposes several solutions. He advocates for greater regulation of transnational corporations, including stricter labor laws and increased transparency in their operations. He also suggests that governments should prioritize the development of local industries and economies, promoting sustainable development and reducing dependence on foreign capital.

In conclusion, Chesnais' analysis of the state of contemporary capitalism provides a valuable insight into the workings of transnational corporations and their impact on the global economy. He argues that we are living in a period of unprecedented economic inequality and that the activities of these corporations are contributing to this problem. By understanding the underlying mechanisms of transnational capitalism and proposing solutions to address these issues, Chesnais offers a roadmap for a more equitable and sustainable economic future.

Weight: 454g
Dimension: 154 x 229 x 20 (mm)
ISBN-13: 9781608468270