Capitalism, Internationalism and Socialism in A Time of Globalization

This paper will debate Marxist propositions, presented since the mid-19 th century, about capitalism, socialism and internationalism.According to Marx, socialism would replace capitalism and internationalism would occur through the dissolution of nation states.Taking into account recent moves toward globalization and measures imposed by national governments in the face of the deep financial crisis of 2008, it is interesting to compare Marxist theories with some historical events that have happened since the 19 Ih century.Much has occurred that Marx did not predict. Capitalist Transitions Since the 19 th CenturyCapitalist modes of production have shown a sequence of significant transitions since the mid 19 th century.The financial sector has increased continuously, absolutely, and relatively.Capitalism began in Great Britain, and London became the main world financial center, the largest world metropolis.Investments from capitalist countries were directed not only to the other industrialized countries or their colonies, but also to the newly independent countries of the periphery.By the beginning of the 20 th century, for instance, the largest foreign investment in Brazil was made by Light & Power, a company with headquarters in Toronto, Canada.Working with English, American and Canadian capital, Light & Power started its investments with a nominal $10 million, applied to acquiring urban equipment in the main Brazilian cities, Rio de Janeiro and Sao Paulo.Holding for many years the monopoly of all urban services (electricity, gas, telephone, water supply, sewage, and tramway transportation), the company was nicknamed by the population of Rio de Janeiro, at that time the federal capital of Brazil, the Canadian octopus.But it played a fundamental role in the development of Sao Paulo and Rio de Janeiro; they became the two main modern national metropolises.During the 1930s, Neville Chamberlain showed his country's weakness, unlike its strength during the beginnings of national industrial capitalism, by appeasing Hitler.International financial capitalism was more likely to negotiate than intimidate.Great Britain was replaced by the United States and New York became the world's leader of international financing after World War II.

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