Development Orders and Disorders: Real Competition in Complex Global Capitalist System, China’s Ambiguous Case, and the Need for Democratic Socialism in the 21st Century

Khan, Haider (2024): Development Orders and Disorders: Real Competition in Complex Global Capitalist System, China’s Ambiguous Case, and the Need for Democratic Socialism in the 21st Century.

Abstract

The main purpose of this paper is to locate the so-called developing economies (DEs) analytically within the complex dynamics of the global capitalist order(GCO). Using the ideas of disorder at the micro level and the emergence of order at the macro level out of this disorder, the capitalist order/disorder dynamics in the developing economies is explored theoretically and empirically. The classical idea of real competition can be used to explore how a crisis-ridden dynamics of uneven development emerges particularly for the DEs as part of the GCO dynamics. Some limits of policies and of the so-called developmental state capacities can be identified through this analysis.

A related purpose of this paper is to explore the possibilities of industrialization and development with equity in the 21st century with an emphasis on rapidly growing developing economies in the global system such as the BRICS . The formal nonlinear model presented in the appendix may be seen as an initial step to put the analysis within a complex economic systems framework. Real competition and relative surplus value extraction play critical conceptual roles in this complex dynamic process.

China is selected from among the BRICS as a special case study of DEs. More specifically, the complex dynamics underlying the relative surplus value extraction is explored in the context of growth, inequality and poverty. In addition--- and crucially--- the paper then analyzes the problems of industrialization and innovation in the 21st century context for China from a strategic perspective. The problems revealed through this case study can highlight many of the challenges of development, industrialization and innovation in the 21st century for the other BRICS as well as for many other developing countries. However, it must be pointed out that China is also a special ambiguous case in many respects with elements of capitalism along with some socialist elements reemphasized in the last 20 years and especially under Xi. There are also ecological issues that PRC is trying to tackle but it is not certain that it can do so in time to save our planet when the US is clearly going the other way.

• Item Type: MPRA Paper
• Language: English
• Keywords: Real Competition, Relative Surplus Value, GCO, Complex Dynamics, Emergence, Development, Limits of Development under GCO, Crisis, Sustainable Capabilities Enhancing National Innovation System(SCENIS)
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches; B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B51 - Socialist ; Marxian ; Sraffian; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development

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