POL101Y1 Chapter Notes - Chapter 8: Black Monday (1987), 1997 Asian Financial Crisis, The Communist Manifesto
Document Summary
Current communist countries: china, cuba, vietnam, north korea. Soviet union as the first workers" state" failed experiment for communism. The disappearance of the soviet union has encouraged an appreciation of marx"s work less encumbered by the baggage of marxism-leninism as a state ideology. Marx"s social theory focuses of an analysis of capitalism and its dynamism and inherent contradictions makes it relevant today. Capitalism crises: 1987 stock-market crash; asian financial crisis of 1990s; credit crunch of 2008-9. To understand world politics, must understand the processes operating within global capitalist system. Marxist approach also known as historical materialism. The essential elements of marxist theories of world politics: Social world should be analyzed as a totality (shouldn"t separate into history, philosophy, economics, etc. ) none can be understood without knowledge of others. Materialist conception of history: processes of historical change are ultimately a reflection of the economic development of society.
