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Keywords:

  • automation;
  • crisis;
  • debt;
  • employment;
  • labor;
  • manufacturing;
  • unemployment

The advanced capitalist ccuntries are undergoing an industrial devolution as remarkable as the industrial revolution of the nineteenth century. The removal of high-paying jobs through automation and geographical migration destroys the main market of the center and precipitates debt crises in newly industrialized countries of the periphery which have followed export-oriented growth policies. This results in a new, internationalized form of the crises of iate capitalism and provides a new institutional foucs for crisis in the international banks. The paper examines this global process from the perspective of the geography of class struggle.