This article discusses the emerging field of examining alternate or unique economies around the world, and reflecting on their advantages as compared to traditional capitalism. The article points out that during the 1980's (most likely around the collapse of the Soviet Union) the world began to lose faith in any other form of economic system other than capitalism. This criticism of other types of system can be seen in our own country, how if anyone mentions the word "socialism" people begin to panic. Since the power of the world is being monopolized by Capitalist nations, the desire pursue any other economic structure would be both would not be advantageous to the most powerful nations currently benefiting from the globalized capitalist market.
Though this article is looking at the subject in a new way, scholars have always been striving to find some other economic form to integrate into certain economies, especially in developing nations. Often these economies are structured to best fit the needs to of developing nation, to play off of their strengths and production, and to protect these vulnerable states from the Globalization. If you need an example of the damaging affects of globalization, reflect on the video about Jamaica we watched in class.This new focus on developing these economies is an exiting new prospect, and may finally be the answer to how all of these nations fit into on globalized economy, however, scholars must be aware that they may face resistance from those currently profiting from the way things are in the world.
For discussion: What could these unique economies look like? and how would they benefit their own country?
How might this emerging field be able to further step into prominence?
These are very good questions for our class discussion, Jake. I would only change the verb tense from future to present. As the authors note, these diverse economies already exist. And talking about them, researching them (in your research papers for instance :), analyzing them is one step we can take to bring visibility (and hence, more weight) to them.
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