Socialism and Development Terms Flashcards
Racial capitalism
the idea that capitalism has always used race to create inequalities and make profits.
Water privatization (Liberal perspective)
Efficient
Lower prices
More accountability
Better choice
Pro-poor
Water privatization (Keynesian perspective)
Meaningful competition needed
Fair negotiations needed
Close regulation needed
Subsidies for the poor
Water privatization (Marxist perspective)
Expansion of capital into new fields
Unequal benefits
Commodification of lifeworlds
Financialization
Commercialization of the state
What’s a Marxist to do?
Expose contradictions
Build class consciousness
Highlight intersectionality
Create global networks
Push for ‘progressive’ reforms
Three choices in the early post-colonial phase
- Modernization
- Keynesianism
- Socialist revolution
o Alone?
o Soviet sphere?
o Chinese sphere?
how do you have a revolution?
Mobilize peasant farmers, informal workers
Create global alliances
Pan-Africanism
a general term for various movements in Africa that have as their common goal the unity of Africans and the elimination of colonialism and white supremacy from the continent.
Marxist/Leninist revolutions in Africa
MPLA
Frelimo
Chinese communism (1949) & Maoism
- Peasant revolution
* large agrarian population and a semi-feudal society
* mobilizing rural peasantry and capturing urban centers controlled by the ruling class
* creation of rural communes - Cultural Revolution
* attack on authority and tradition
* suppression of traditional Chinese cultural practices perceived as feudal or bourgeois
* promoting revolutionary art, literature, and music
Revolutionary Armed Forces of Colombia (FARC)
- Founded in 1964 on a mixture of peasant grievances and communist ideology
- Sought to achieve goals via rural guerrilla warfare
- Emphasized redistribution of land
- Often engaged in kidnappings, extortion, and drug trafficking to fund their operations
- Peace agreement in 2017, now disbanded
Critique of Neoliberalism
Neoliberalism is critiqued for exacerbating racial and economic inequalities, promoting individualism over collective action, and neglecting systemic racism.
BLM rejects neoliberal solutions to racial injustice, such as diversity and inclusion initiatives that fail to address deeper structural issues.
Intersection of Race and Capitalism
Racial capitalism, the exploitation of racialized groups for economic gain, is central to the Black Lives Matter (BLM) movement’s critique of society.
BLM challenges neoliberalism by highlighting how race and capitalism intersect, maintaining inequalities along racial lines.
Why is Marxism continue to be relevant
Class struggle: Marxism shows how rich people (capitalists) benefit from the hard work of poorer people (workers), which still happens today.
Economic inequality: The gap between the rich and poor keeps growing, and Marxism offers ideas on why this happens.
Critique of capitalism: Many people see problems with capitalism, like low wages or bad working conditions, and Marxism gives a way to think about changing this system.
Social justice movements: Marxism influences modern movements that fight for workers’ rights, equality, and fairness.
Classical vs Liberal economics
Classical economics believes in minimal government and market-driven growth.
Liberal economics focuses on free markets with some government protection of competition and rights.
