How have global markets and global manufacturing changed the balance of social, economic and political power? With this volume Ross and Trachte challenge existing political-economic theory. In concise terms they show how traditional theories of monopoly capitalism and world systems are not well-suited to analyze the emergence of global capitalism. This book, in a series of case studies of U.S. metropolitan areas, examines the dramatic transformation of the world economy in the last two decades. The book's last section examines political strategy and the political theory implied by the heightened power of capital.

Table of Contents:
Figures Tables Acknowledgments Part I Chapter One: Introduction to the New Leviathan The Irony of the New Leviathan Discovering the New Leviathan: Global Capitalism Domains of New Theory Global Capitalism: An Informal Summary Levels of theory and historical perspective Methods for strategic analysis Power, ideology and global capitalism Overview Part II: Toward a New Synthesis Chapter Two: Tools for Analysis Introduction: Capitalist Crisis and Social Theory Overview of Section II A Definition of Capitalism as a Mode of Production Variants of the Capitalist Mode of Production Global Capitalism as a Submode of Capitalism The Strategic Relationships within Capitalism Capital-to-labor Capital-to-capital Capital-to-[the]-state Crisis Tendencies under Capitalism The Tendency for the Rate of Profit to Decline Elements of the Labor Theory of Value Class struggle, the rising strength of labor and the rate of profit The tendency for the organic composition of capital to rise Realization failure and falling profits Contrasts among the three crisis theories The Concept of a Restructuring Crisiss Chapter Three: The Birth and Death of Monopoly Capitalism Introduction The Capital-to-Capital Relation in the Theory of Monopoly Capitalism The Capital-to-Labor Relation in the Theory of Monopoly Capitalism The Capital-to-State Relation in the Theory of Monopoly Capitalism Dynamics in the Theory of Monopoly Capitalism The Theory of Monopoly Capitalism: An Assessment Chapter Four: The Present as the Past: World Systems Theory Introduction World Systems Theory: Methodology, Concepts and Propositions World Systems Theory: Changes and Cycles World Systems Theory and Secular Trends The World System since 1945 Capital-to-capital relations Capital-to-labor relations Capital-to-state relations Summary World System Theory: A Conclusion Chapter Five: Global Capitalism Introduction: The Theme Is Power The Capital-to-Labor Relation under Global Capitalism The Capital-to-Capital Relation under Global Capitalism The Capital-to-State Relation under Global Capitalism Summary: Global Capitalism A Crisis of Restructuring: The Transition from Monopoly to Global Capitalism Restructuring Crisis or Cycle of Contraction? Implications for the Older Industrial Regions and Cities Implications for the Periphery A New International Division of Labor?: The State of the Debate Monopoly Capital and World Systems Views of the New International Division of Labor Global Capitalism and the New International Division of Labor Conclusion Part III: Explorations in Global Capitalism Chapter Six: The Restructuring of the World Economy under Global Capitalism Introduction Section 1: A New Form of Capitalist Competition: The Strategy of Glabal Spatial Mobility The Growth of Foreign Investment in Manufacturing in the Third World Other Means of Relocating Manufacturing Production to the Periphery Capital Relocation to the Periphery and the Balance of Class Forces The Sectoral Pattern of the Relocation of Manufacturing Production to the Periphery The National Pattern of Manufacturing Investment in the Periphery A Note on the Semi-Periphery Summary Section 2: THE RESTRUCTURING OF THE GLOBAL PRODUCTION ECONOMY Regional Patterns of Growth Regional Patterns of Structural Change Summary Foreign Investment and Peripheral Industrialization A World System Cycle or a Transition to Global Capitalism? Section 3: A New International Division of Labor The Growth of Manufacturing Exports From the Periphery and Semi-Periphery A Comparison of the Growth of Manufacturing Exports from the Periphery with the Growth of Core Exports The New Role of the Third World in the World System of Trade A Sectoral View of Peripheral Industrialization and the New International Division of Labor A Qualifying Note Summary Section 4: The Costs and Constraints of Global Capitalism in the Third World Reprise and Prospect Chapter Seven: The Monopoly Sector in the Core: The Crisis of Detroit Section 1: Detroit and the Era of Monopoly Capitalism Introduction: Detroit and the American Way of Life Understanding Detroit: Understanding the Global System Section 2: The Automobile Industry and the Crisis of Detroit as a Case in the Transition from Monopoly to Global Capitalism Detroit and the Automobile Industry and the Era of Monopoly Capitalism Capital-to-Capital Relations in the Automobile Industry Decline of Hegemony Change in marketshare The return of price competition Summary Capital-to-Labor Relations: Global Capital Mobility as The New Lever of Exploitation in the Automobile Industry Capital-to-Labor Relations: Evidence of the Global Mobility of U.S. Auto Capital Capital-to-Labor Relations: The Use of Capital Mobility as a Lever of Exploitation in the 1982 Labor Negotiations in the Automobile Industry Capital-to-Labor Relations: The Impact of Global Capitalism on U.S. Auto Workers Transition or Cycle in a Monopoly Sector Capital-to-Labor Relations in the Detroit Region Capital-to-State Relations in the Detroit Region Section 3: The Restructuring of the Economy of Detroit A State of Emergency Indicators of Decline in Detroit What is the Future of Detroit? The delinking of Detroit and the Automobile Industry Signs of Transition in Detroit Section 4: Summary and Reprise New York and Detroit: Regional Differences under Monopoly Capitalism Chapter Eight: Global Cities and Global Classes: The Periphery Comes to the Core in New York City Section 1: Global Cities in the World-system of Capitalism The Concept of a Global City Images of the Global Cities Conceptualizing Change and Its Consequence for the Working Class in Global Cities Section 2: The Working Class in Global Cities: Alternative Theoretical Sources Theories of Unequal Exchange: The Working Class in Core Regions The Perspective of Global Capitalism Section 3: New York: The Empire City New York's Manufacturing in Decline Circuit One: Capital Mobility and the Vulnerability of Labor in New York City The Reserve Army in New York City The Reentry of Capital: The Periphery in the Global City The Income and Wage Implications of New York's Structural Shift Wages in the Global City The Sphere of Reproduction: Housing Conditions The Periphery in the Core: Poverty and Infant Mortality Rates in New York Section 4: SUMMARY AND REPRISE Chapter Nine: Remaking the State in Massachusetts Section 1: Massachusetts and Social Theory Section 2: Restructuring Massachusetts Full Employment in Massachusetts: The Aftermath of Decline The Effect of Job Loss and Capitalist Competition in Traditional Industries The Capital to Labor Relation: Unionization Job Growth in High Technology and Services: Discipline Yields Re-Entry The Global Dimension of High Tech Growth A Note on The Pentagon Connection After the Storm: A Restructured Economy Section 3: The Ascendance of High Tech Introduction Proposition 2 1/2: Developing a Mass Base Plant Closing Legislation: The Politics of Consensus Conclusion Summary: Strategic Relations in Massachusetts Capital-to-capital Capital-to-labor Capital-to-state Part IV: Politics and the State Chapter Ten: The Strategy of Classes in the Older Regions Introduction Capitalist Class Strategic Initiatives Working Class Strategic Response: Organizing in the Sphere of Production Working Class Strategic Response: Organizing in the Sphere of Consumption Urban social movements The limits of the new populism The local arena The sphere of consumption Coalition Formation The national arena Conclusion Chapter Eleven: State Autonomy and the Prospects for Socialism Introduction The Historical Basis of Relative Autonomy The concept Relative autonomy and monopoly capitalism The Transition to Global Capitalism Global Capitalism and Relative Autonomy Global Capitalism and the Theory of the State Some basic concepts The Decline of Relative Antonomy Relative Autonomy: An Alternative View The Implications of the Relative Decline of Relative Autonomy Socialism and Global Capitalism Notes Bibliography Index