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

David A. Westbrook

SUNY Buffalo Law School

Date Written: February 10, 2010

Abstract

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

Suggested Citation

Westbrook, David A., City of Gold: An Apology for Global Capitalism in a Time of Discontent (February 10, 2010). CITY OF GOLD: AN APOLOGY FOR GLOBAL CAPITALISM IN A TIME OF DISCONTENT, David McBride, ed., Routledge, 2003. Available at SSRN: https://ssrn.com/abstract=486724

David A. Westbrook (Contact Author)

SUNY Buffalo Law School ( email )

School of Law
528 O'Brian Hall
Buffalo, NY 14260-1100
United States

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