Essay on The Ideas Of Marxism, Economic Nationalism, And Liberalism

1494 Words Mar 22nd, 2016 6 Pages
In Robert Gilpin 's analysis (name of article) he discusses the different ideas of Marxism, economic nationalism, and liberalism. As part of his analysis he makes the statement,( "Although my ideas are those of liberalism, I believe the world is best described in terms of economic nationalism and at times Marxism." )This is a very interesting claim to be made. As Gilpin pointed out capitalism generates surplus. This surplus must be outsourced to somewhere in order to reestablish an equilibrium in the economy. This is partially what makes capitalism so successful as a growth economy, as it allows for wealth to be maximized, although not always equally. This aspect of capitalism, as well as the core concept of maximizing efficiency within a market has made capitalist economies quite successful in an expanding world. In the early eras of the industrial revolution Great Britain was able to succeed with capitalism. This stemmed from their ability to get rid of surplus overseas in the colonies, letting them continue to grow. Similarly after WWII, the United States was able to succeed with the system by exporting surplus to other countries. As globalization becomes an ever prevalent phenomena, the world becomes seemingly smaller, with fewer opportunities to outsource surplus. I believe that this closing world has become more prevalent in the 21st century. Gilpin would also assert this, leading to his conclusion that capitalism cannot succeed as the world becomes more and more…

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