City of Gold: An Apology for Global Capitalism in a Time of Discontent
CITY OF GOLD: AN APOLOGY FOR GLOBAL CAPITALISM IN A TIME OF DISCONTENT, David McBride, ed., Routledge, 2003
Posted: 18 Jan 2004 Last revised: 7 Mar 2017
Date Written: February 10, 2010
Economic globalization has produced a "City of Gold": a global, cosmopolitan polity constituted by markets, and where capital markets - not states - have become the dominant mode of governance. But there are troubling consequences from using markets as the primary political mechanism. Traditional politics have been undermined and an inadequate economic logic rules. Despite the problems inherent in this new political economy, however, the City is an acceptable response to the crisis of the nation state, and moreover, is a way of life with its own rewards and possibilities. From this basis, City of Gold advocates a political imagination that moves beyond the logic of capitalism yet which acknowledges the continuing centrality of markets - with all of their profound limitations - to our lives.
Keywords: International economic integration - political aspects, international economic integration - social aspects, capitalism, globalization, economic development
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