US-Asia Economic Relations: A Political Economy of Crisis and the Rise of New Business Actors

Reviewed here are contrasting approaches to the same locus of marginalisation: the precariat in the informal sector. In developed and underdeveloped countries alike, neo-liberal economic growth is increasingly dependent on insecure, temporary and low-paid employment. Such laissez faire capitalism demonstrates additionally that – contrary to earlier views about the capitalism/unfreedom link – bonded labour is not an obstacle to accumulation, since the free market currently thrives on an unfree workforce. Because, with the exception of Marxist theory, no opposition to this pattern of economic growth argues for transcending the capitalist system, critiques of its labour regime are unable to formulate an adequate political solution.