End of History or the Beginning of Global Tyranny in Capitalism: A Re-Interpretation of the Imperial Sources

Authors:

Abubakar Sadeeque Abba Ph.D., Izu Iroro Stephen & Suleiman Mohammed Basheer

DOI Number:

####
Abstract:

The task undertaken in this paper is an attempt to contextualize the invidious and seemingly invincible role being played by major political ‘capitals’ in the reification, deification, hence hegemonization of the capitalist ideology in the global economic system. This is done within the ambit of the demise of Soviet socialism, the infiltration of communist China by the mutability, adaptability and profitability of capitalist ethos; the opening up of revolutionary Cuba, the evocation of the Arab Spring which gutted the arch-priest of Jamahiriya in Libya, the ambitious but painful containment of the Korean peoples power and the collapsed of the system of economic commands and stage-management across the world. In this light, the paper tried to enquire into how the word ‘capital’ became the name given to states’ headquarters and how this reality has aided the dominance or hegemony of capitalism in the world. Employing the hegemonic stability theory and descriptive analysis method, the paper contends that the christening of states’ seats of power as capitals or capital cities was a subtle strategy of capitalism to deepen its roots. It however find out that this subtle hegemonization is not so much ‘the end of history’ as postulated by Francis Fukuyama than the beginning of time in diagnostic vicious cycle in global tyranny. It also established that the failure of Soviet socialism was not so much about the supremacy of capitalism or liberalism over socialism than the fact that Lenin’s impatience in not allowing capitalism to blossom to its peak before embarking on his Bolshevik revolution made mockery of Marxism – and made capitalism to topple socialism – but did not kill it. The paper recommends among others that states, especially the third world countries, should wake up to this subtlety and begin to put fences and wedges against its perniciousness and unbridled rapacity. These walls must necessarily lean toward protectionism to encourage the development of local resources for a sustainable growth

Keywords:
Political ‘Capitals’, Capitalism, Socialism, Hegemony, Tyranny

Full Text:

Bibliography:

Ake, C. (1981), A Political Economy of Africa. London: Longman

Ake, C. (2001), Democracy and Development in Africa. Ibadan: Spectrum Books

Limited

Alapiki, H.E.ed. (2005), Political Economy of Globalization. Port Harcourt:

Amethyst Colleagues Publishers.

Akpakpan, E. (1999), The Economy: Beyond Demand and Supply. Port Harcourt.

University of Port Harcourt Printing Press.

Akpuru-Aja,A. (1998), Fundamental of Political Economy and International

Economic Relations.Owerri: Data Globe Publisher.

Nwozor, A. (2012), Market Failure: A Revisit of the Role of the State in Economic

Development, in Akpuru-Aja,A. and Ibe,A.N. eds., Repositioning the State For Development in Africa: Issues, Challenges & Prospects. Enugu: RhyceKerex Publishers

Smith, A. (1776),An Inquiry into the Nature and Causes of the Wealth of Nations.

London: William Strahan, Thomas Cadell.

Ekeocha, O. (2003), The Reality of State Power, in Dukor, M. (ed.) Philosophy

and Politics: Discourse on Values, Politics, and Power in Africa. Lagos: Malthouse Press Limited.

Fukuyama, F.(1989), The End of History, in The National Interest, Summer, USA.

Fukuyama, F.(1992), The End of History and the Last Man. New York: The Free

Press.

Fukuyama, F.(2012), The Future of History: Can Liberal Democracy Survive the

Decline of the Middle Class? USA: Council on Foreign Relations, Inc.

Izu, S.I. (2009), Strategic Rudiments of Political Science. Abuja: Famray Digital

Prints.

Jacob, J. and Izu, S. I.(2011),Democratization and the End of Sit-Tightism in

African States, in African Journal of Humanities       and      Society, Vol. 12, Number 1, April 2011, Pp.37-43

Izu, S.I.(2012), Militancy and Amnesty in the Niger Delta: A Study of the

Feasibility of Peace in the Niger Delta Area of Nigeria.Unpublished Master’s Dissertation in the Department of Political Science and International Relations, University of Abuja, Abuja, Nigeria.

Marx, K.(1867), Capital Vol. 1. Allen and Unwin.

Marx, K.(1848), The Communist Manifesto.

Marx, K.(1859), A Contribution to the Critique of Political Economy. Moscow.

Meredith, M. (2011), The State Of Africa.London: Simon and Schuster UK. Ltd.

Offiong, D.(1980), Imperialism and Dependency. Enugu: Fourth Dimension

Publishers.

Onimode, B.(1983), Imperialism and Underdevelopment in Nigeria. Nigeria:

Macmillan.

Perkins, John (2004),Confessions of an Economic Hit Man. USA: Ebury Press.

Porteous, B andPradip, T (2005),Economic Capital and Financial Risk

Management for Financial Services Firms and Conglomerates.Palgrave: Macmillan.

Rodney, W (1972), How Europe Underdeveloped Africa. London:   Bogle- Ouyertun

Abba, Sadeeque Abubakar (2018) Fukuyama And the Resurgence of History. The Stream Newspaper, Weekly, Abuja Nigeria.

Toyo, E. (2002), The Economics of Structural Adjustment: A Study of the Prelude to

Globalization.Apapa: First Academic Publishers

Williamson, J. (1990), What Washington Means by Policy Reform, in Williamson, J.

ed., Latin American Adjustment: How Much Has Happened? Washington, D.C.: Institute for International Economics