Examine the relevance of Marxism in the era of globalization

The term globalization is a recent entrant in the realm of discourses on politics and society. In essence, it is a process of worldwide integration of economics. Though economic contracts between the nations have been evident since the time immemorial, an ideal globalization is comparatively a new phenomenon.

The accumulatively effect of revolutions in science and technologies has given effect to this trend. As Andrew Heywood has observed “It is a product of technological revolution. It is connectivity. There is no escape from it.”

In its politic-economy manifestation, Globalization has also been labelled as cyber capitalism, mediated through communication technology and media networks wherein capital moves on a global scale. However, much of the apprehensions flow from the prospect of social and cultural integration endangering local customs and traditions.

The paradoxical position of globalization has been best underlined by Andrew Heywood who points out that “Supporters of globalization, sometimes called globalists, usually argue that capitalism tends towards general prosperity, and widening opportunities, in which case global capitalism will allow these benefits to be enjoyed by more people in more countries.

Opponents of globalization, on the other hand, tend to associate capitalism with inequality and exploitation, in which case global capitalism will simply generate new forms of misery and injustice.

Different Views of Globalization:

Anthony Giddens, “intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by the events occurring many miles away and vice versa”.

Held and McGrew, “globalization refers to a historical process which transforms the spatial organization of social relations and transactions, generating transcontinental or inter-regional networks of interaction and the exercise of power”.

Scholte, “globalization is linked to the growth of ‘super territorial’ relations between people, a reconfiguration of social space in which territory matters less because an increasing range of connections have a ‘transworld’ or ‘transformer’, to character”.

Andrew Heywood, “globalization is the emergence of a complex web of interconnectedness that means that our lives are increasingly shaped by events that occur and decisions that are made, at a great distance from us it highlights the deepening as well as the broadening of the political process, in the sense that local, national and global events (or perhaps local, regional, national, International and global events) constantly interact.”

Globalization marks a new wave of capitalism wherein capital flows in the role of market for generating financial assets. The Global institutions govern the mechanics of trade and commerce.

Economic relations between the states in contemporary period are being carried on within the purview of following institutions:

1. World Bank.

2. International Monetary Fund.

3. World Trade Organization.

Relevance of Marxism:

A serious question mark has been raised against the relevance of Marxism in the contemporary times. It has been alleged that Marxism as a political theory has failed. The critics have clung to demise of Soviet Union as a point of reference.

In fact the rivalry between Marxism and its rival liberalism is not new. It has been a relatively old one. But, what is new in these attacks is the label of triumph of liberal democracy. The following points have been put forth in order to decry the relevance of Marxism.

Firstly, It has been alleged that Marxism is essentially based on class analysis. But, today there are complex, multiple and even overlapping identities that demands tools and techniques beyond those offered by Marxism. These points have been raised by genesis of post-structuralism/post modernist framework of political analysis.

They decry the ideal of universalism and foundationalism having an epic of history. Rather they emphasize fragmentation and contingency as the basis of every social experience. It has been hinted that political theory can no longer have grand vision culminating in the realization of a communist or other society but different arrangements may be devised by people to suit their requirements. This line of thinking is accruing out anti- universalistic thrust advocated by post modernistic.

Secondly, Francis Fukayama points out that the collapse of communism is Soviet Union and more towards market economy in China marked the “triumph” of liberal democracy as the only nobler form of government. It has been alleged that if anything, Marxism does not present a viable future in an ever changing world. Its bureaucratic centralism has been dubbed as a form of totalitarianism.

Thirdly, the economic determinism of Marxism neglects the autonomous role of politics and culture in collective life. Perhaps it fails to show as to why people respond differently to similar situations of crisis and upheaval.

Fourthly, the revolutionary tinge of Marxism is the cause of contention. Many believe that it destroys the achievement of history in a single stroke of violence. Rather, peaceful transfer of power has become an accepted norm throughout the world.

Fifthly, the rigidity and formalism inherent in Marxist predisposition render it difficult to deal with changes that one inherently local and expedient. High degree of centralization and control creates apathy among masses.