The Primacy of Economics versus the Primacy of Politics: Understanding the Ideological Dynamics of the Twentieth Century

Abstract

The current economic crisis has once again bought debates about capitalism and globalization to the forefront of the political agenda. Until very recently almost everyone seemed to be convinced that the world was at the dawn of a new era. Yet, the issue at the heart of globalization debates—whether political forces can dominate economic ones or must bow before them—is not new at all. I show that many of the great ideological and political battles of the last century were fought over precisely this ground, and argue that because we have forgotten or misunderstood these earlier debates our current discourse is thin and impoverished. To understand where we are and where we are going, we have to first step back and look closely at where we have been.