Luxemburg and the Balance of Power in the 21st Century

Szymborska, Hanna K. (2016). Luxemburg and the Balance of Power in the 21st Century. In: Dellheim, Judith and Wolff, Frieder Otto eds. Rosa Luxemburg: A Permanent Challenge for Political Economy. Luxemburg International Studies on Political Economy. London: Palgrave Macmillan, pp. 169–183.

DOI: https://doi.org/10.1057/978-1-137-60108-7_7

Abstract

The chapter discusses the relevance of Rosa Luxemburg’s ideas contained in her Accumulation of Capital in understanding the shift in the balance of power inspired by the transformation of financial sectors from the second half of the 20th century until recent times. Luxemburg’s theory of the necessity of non-capitalist strata for capitalist development is reinterpreted to understand the emergent changes in power relations. It is argued that deepening social disparities have constituted a precondition for the establishment of finance-led capitalism in the last decades, which can be interpreted as parallel to Rosa Luxemburg’s theory of the necessity of non-capitalist accumulation serving as a field of exploitation for the development of capitalism.

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