{"id":1426,"date":"2026-08-09T19:11:54","date_gmt":"2026-08-09T13:41:54","guid":{"rendered":"https:\/\/forumias.com\/psir\/psir-pyq\/how-has-the-development-of-global-capitalism-changed-the-nature-upsc-psir-2017-3003\/"},"modified":"2026-08-12T21:24:38","modified_gmt":"2026-08-12T15:54:38","slug":"how-has-the-development-of-global-capitalism-changed-the-nature-upsc-psir-2017-3003","status":"publish","type":"psir_pyq","link":"https:\/\/forumias.com\/psir\/psir-pyq\/how-has-the-development-of-global-capitalism-changed-the-nature-upsc-psir-2017-3003\/","title":{"rendered":"How has the development of Global Capitalism changed the nature of socialist economies and developing societies?"},"content":{"rendered":"<div class=\"pq-flow\">\n<div class=\"pq-flow-h\">Flow snapshot <em>\u2014 how the answer moves<\/em><\/div>\n<div class=\"pq-fb\">\n<div class=\"pq-pill p1\"><span>Intro routes<\/span><\/div>\n<div class=\"pq-ft\">\n<p class=\"pq-r\"><i class=\"pq-rt\">Route 1<\/i> global capitalism beyond borders (transnational capital \/ class \/ state) <span class=\"pq-ar\">\u2192<\/span> Soviet collapse removes the socialist alternative <span class=\"pq-ar\">\u2192<\/span> spreads via neo-liberal Washington Consensus<\/p>\n<p class=\"pq-r\"><i class=\"pq-rt\">Route 2<\/i> end of Cold War = triumph of capitalism over socialism <span class=\"pq-ar\">\u2192<\/span> one market model now imposed on socialist + developing economies alike<\/p>\n<\/div>\n<\/div>\n<div class=\"pq-fb\">\n<div class=\"pq-pill p2\"><span>Body flow<\/span><\/div>\n<div class=\"pq-ft\">\n<p><b>Neo-Gramscian<\/b> hegemony of market fundamentalism (1980s\u20132008) <span class=\"pq-ar\">\u2192<\/span> IMF Structural Adjustment (reduced govt, liberalisation, privatisation) <span class=\"pq-ar\">\u2192<\/span> debt-hit socialist + developing states open markets <span class=\"pq-ar\">\u2192<\/span> socialist <i>de jure<\/i>, <i>de facto<\/i> mixed (East Europe) <span class=\"pq-ar\">\u2192<\/span> developing societies liberalise\/privatise (India\u2019s LPG) <span class=\"pq-ar\">\u2192<\/span> East Asian crisis 1997 dents IMF, but growth + falling poverty sustain commitment <span class=\"pq-ar\">\u2192<\/span> 2000s power shift <span class=\"pq-ar\">\u2192<\/span> 2007 IMF\/World Bank voting favours developing countries <span class=\"pq-ar\">\u2192<\/span> India &amp; China rise within the same system<\/p>\n<\/div>\n<\/div>\n<div class=\"pq-fb\">\n<div class=\"pq-pill p3\"><span>Counter-view<\/span><\/div>\n<div class=\"pq-ft\">\n<p><b class=\"pq-sc\">Wallerstein<\/b>: transnational division of labour keeps developing countries subordinate; states cannot regulate MNCs or sustain welfare <span class=\"pq-ar\">\u2192<\/span> 2008 crisis confirms <span class=\"pq-ar\">\u2192<\/span> <b class=\"pq-sc\">Ngaire Woods<\/b>: states vs markets, who really benefits<\/p>\n<\/div>\n<\/div>\n<div class=\"pq-fb\">\n<div class=\"pq-pill p4\"><span>Conclusion routes<\/span><\/div>\n<div class=\"pq-ft\">\n<p class=\"pq-r\"><i class=\"pq-rt\">Route 1<\/i> West retreats to protectionism while developing countries defend free trade <span class=\"pq-ar\">\u2192<\/span> capitalism now a single world-system<\/p>\n<p class=\"pq-r\"><i class=\"pq-rt\">Route 2<\/i> the nature changed decisively \u2014 no socialist or developing economy now stands outside global capitalism; only its terms remain contested<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"pyq_year":[45],"pyq_marks":[35],"pyq_topic":[73],"pyq_paper":[69],"class_list":["post-1426","psir_pyq","type-psir_pyq","status-publish","hentry","pyq_year-45","pyq_marks-15-marks","pyq_topic-globalisation","pyq_paper-paper-2"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/psir_pyq\/1426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/psir_pyq"}],"about":[{"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/types\/psir_pyq"}],"version-history":[{"count":6,"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/psir_pyq\/1426\/revisions"}],"predecessor-version":[{"id":4838,"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/psir_pyq\/1426\/revisions\/4838"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/media?parent=1426"}],"wp:term":[{"taxonomy":"pyq_year","embeddable":true,"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/pyq_year?post=1426"},{"taxonomy":"pyq_marks","embeddable":true,"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/pyq_marks?post=1426"},{"taxonomy":"pyq_topic","embeddable":true,"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/pyq_topic?post=1426"},{"taxonomy":"pyq_paper","embeddable":true,"href":"https:\/\/forumias.com\/psir\/wp-json\/wp\/v2\/pyq_paper?post=1426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}