The Globalization of Capitalism in Third World Countries

(Hardback)

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The transformation and growth of capitalism in third world countries is examined by first looking at the beginnings and growth of capitalism in the developed industrialized world and at the various stages in which it is transplanted to less developed countries. This transplantation of capitalism brings about only the rapid growth of capital sector and not the complete capitalist transformation of a country. An interesting challenge of traditional views is made on population growth, demographic transitions, and technological transfers in economic development. Social welfare and economic planning are justified as inevitable conditions for the present phase of the spread of capitalism.

Reviews

Maitra deals with a very important and timely subject--the globalization of capitalism--and has assembled impressive statistics to fortify his main arguments. He correctly identifies the two fundamental contributions of capitalism to the world economic order: a sustained increase in real per capita income due to increased productivity; and the metamorphosis of stagnant and prescientific feudal economic order into a progressively science-based capitalism with dynamic impulses for technological change.... A valuable volume for professional and academic collections, lower-division undergraduate and up.-Choice
"Maitra deals with a very important and timely subject--the globalization of capitalism--and has assembled impressive statistics to fortify his main arguments. He correctly identifies the two fundamental contributions of capitalism to the world economic order: a sustained increase in real per capita income due to increased productivity; and the metamorphosis of stagnant and prescientific feudal economic order into a progressively science-based capitalism with dynamic impulses for technological change.... A valuable volume for professional and academic collections, lower-division undergraduate and up."-Choice

Author Bio

PRIYATOSH MAITRA formerly of the Indian Statistical Institute, Calcutta, and East African Institute of Economic and Social Research, is presently an Associate Professor with the University of Otago, New Zealand. He specializes in research in the effects of population, technology, growth patterns, and import substitution on economic development.