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.
Robert J. S. Ross is Associate Professor of Sociology at Clark University. Kent C. Trachte is Dean of Freshmen at Franklin and Marshall College.
"This work addresses very important questions about structural change and continuity in modern world society. It combines a patient and careful study of key changes in political and economic institutions with a cogent argument for the thesis that a new stage of capitalist development has arrived. Ross and Trachte's book is an extremely important contribution to social scientific theorizing about modern society. " — Christopher Chase-Dunn, Johns Hopkins University