| However, unlike many other social scientists, Jha makes a valiant attempt to offer a way out of the crisis. No surprises there, though. The first step, according to him, is to discard the deep-seated belief that the markets and the global political system have the capacity to correct the distortions that have already crept in. And, of course, there is a demand for renewed efforts at reviving multilateralism and multilateral decision making. |
| Influenced by the ideas of Marxist historian Eric Hobsbawm (who has written the foreword to the book), Jha argues that in the last 700 years, there has been only one hundred years of peace and stability""from 1815 to 1914. By peace and stability, he has meant a period marked by economic growth and political stability. The rest of the years were consumed by the unrelenting march of capitalism, which led to more competition and more efficiency. This also increased wealth but at the same time multiplied the number of losers, and, in Jha's words, "sharpened the conflict between them (losers) and the winners". |
| Not surprisingly, the book is full of warnings and grim predictions. The warning that markets should not be "reified" comes on the basis of Jha's assessment that the violence caused by capitalistic forces in the twentieth century had proved too difficult to manage. His fears are that the violence that might be caused by the transition from British to American hegemony could be even more unmanageable. There are references to Iraq and Kosovo to establish his point. His regret is that there is not yet enough recognition of the danger this transition poses. Nor is there any sign of any action to slow down the process to protect those who will be the biggest losers. |
| In propounding his thesis on the need for an economic policy course correction, he also tries to demolish a few well-accepted views on capitalism, globalisation and free markets. One of the arguments that have got thrashed by Jha merits attention. Economic interdependence, a by-product of globalisation and capitalism, is generally recognised as a force for peace and stability. Francis Fukuyama and Samuel Huntington have premised many of their arguments on this belief. In this book, Jha decides to take them on, arguing that economic interdependence can maintain peace only after it is well established. It cannot create peace. "On the contrary, during periods of transition, growing economic interdependence can be a potent cause of war, for it creates vulnerability," Jha argues. And vulnerability gives rise to a desire for control, which leads to war. |
| Jha has written the book with a grim message. He has written it with passion. He is candid about his hatred of the growing American hegemony. He has made no secret of his dislike of multinational corporations, which according to him thrive on globalisation. He has also raised basic questions on why globalisation has failed to ensure equitable growth. Still, it may not have many takers in a country like India, which has just begun experiencing steady economic growth of over six to seven per cent per annum, except of course the diehard Marxists. |
| Jha, however, succeeds in engaging the reader because of his lucid historical account of the gradual decline of the nation-state, the rise of global conflicts and how globalisation has begun creating new forces to challenge the Westphalian state system. But he disappoints at a crucial juncture. The book fails to offer a credible explanation of why scores of other proponents of globalisation are wrong. Nor does it present likely scenarios that the author sees as emerging after the chaos and war. Perhaps, this could be the subject matter of Jha's next book. |
| THE TWILIGHT OF THE NATION STATE GLOBALISATION, CHAOS AND WAR |
| Prem Shankar Jha Vistaar Publications Price: Rs 480; Pages: 373 |
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