Chapter 3: (Neo)Marxist political economy: failure to take fetishism seriously
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The chapter analyzes (neo)Marxist political economy by focusing on ‘Drain Theory’. It argues that while effectively revealing the inequalities and unequal exchange obscured by Modernization thinking, Drain Theory misses the significance of people’s libidinal attachments to globalized production, consumption, and exchange. As a result, it fails to account for why so many people remain wedded to global capitalism, despite efforts to expose its unequal outcomes.

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