Abstract and Keywords
For most geographers, thinking geographically about the economy means something very different than for mainstream/geographical economists: what is heterodox for the latter constitutes geographers’ orthodoxy. Nineteen propositions about geographical political economy demonstrate how thinking geographically disrupts core propositions about capitalism in mainstream economic theory. The spatiotemporality and relational nature of inter-sectoral commodity production, shaped by the socio-spatial dialectic, implies that commodity production generally is far from equilibrium, (re)produces uneven geographical development, and cannot be divorced from political processes. With respect to exchange, markets are socio-spatial constructs, profit rates are positive, free trade is inequalizing, and financialization matters. With respect to distribution, globalizing capitalism (re)produces socio-spatial inequality, an outcome modulated by the necessity of llabour politics and state intervention. Trajectories of globalizing capitalism co-evolve also with cultural and biophysical processes: its constitutional failure to deliver on the promise of equal opportunity for all makes it necessary to countenance more-than-capitalist alternatives.
Keywords: geographical political economy, globalizing capitalism, thinking geographically, socio-spatial dialectic, disequilibrium dynamics, uneven geographical development, cultural and biophysical processes, more-than-capitalist economies
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