The state is really key here, particularly when it comes to this coercive process of resource accumulation and concentration known as primitive accumulation. How did the interstate system of early modern europe create the conditions that ased states to support capitalist primitive accumulationy? It is interesttan to noke tat in in the market e situation cas that te laterally, of the people find out that money is useful. Always there are people who want to accumulate more and more of them. But the capital system will not automatically emerge from the market economy.
Part one of a two-part interview with sociologist Ho-fung Hung on Chinese political economic history from the 18th century to 2008: why capitalism took off in England and then elsewhere but not in China; and then, how Maoist policy laid the groundwork for China’s ultimate capitalist takeoff and boom. Episode two will focus on the 2008 financial crisis, the deepening imbalances and heightened geopolitical conflict that resulted, and the current situation—including the impact of the crises surrounding Russia’s invasion.
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