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Colonial global economy: towards a theoretical reorientation of political economy

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posted on 2023-06-09, 22:31 authored by Gurminder BhambraGurminder Bhambra
Standard accounts of the emergence of the modern global economic order posit its origins in the expansion of markets or in the changing nature of the social relations of capitalist production. Each fails to acknowledge the significance of colonial relations underpinning these processes, as formative of, and continuous with them. This is a consequence of the dominant understandings (across different theoretical perspectives) of capitalism as a distinct and self-contained economic formation of modernity, the origins of which are seen to be endogenous to Europe and north America. As such, there is a concomitant failure to acknowledge, or regard as significant, the global connections forged through colonialism that are the condition of capitalist-modernity. I argue for the need to recognize the significance of historical colonial relations to both the establishment and continued reproduction of global political economy. In this article, I seek to reorient our understanding of the histories that underpin theories of capitalism to be inclusive of colonial relations and for the framework of analysis to be transformed by their appropriate consideration.

History

Publication status

  • Published

File Version

  • Published version

Journal

Review of International Political Economy

ISSN

0969-2290

Publisher

Taylor & Francis

Issue

2

Volume

28

Page range

307-322

Department affiliated with

  • International Relations Publications

Full text available

  • Yes

Peer reviewed?

  • Yes

Legacy Posted Date

2020-12-18

First Open Access (FOA) Date

2020-12-18

First Compliant Deposit (FCD) Date

2020-12-17

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