By Ernesto Screpanti
During this provocative learn, economist Ernesto Screpanti argues that imperialism—far from disappearing or mutating right into a benign "globalization"—has in reality entered a brand new section, which he phrases "global imperialism." this can be a part outlined by way of multinational organisations separate from from the countryside framework and unfastened to chase gains over the whole floor of the globe. now not depending on geographical regions for development a political consensus that contains capital accumulation, those agencies search to bend governments to their will and spoil boundaries to the unfastened stream of capital. And whereas army strength keeps to play a massive function in imperial approach, it's the self-discipline of the worldwide industry that retains staff in cost through pitting them opposed to one another it doesn't matter what their nationwide starting place. it is a global within which the so-called "labor aristocracies" of the wealthy countries are demolished, the ability of states to implement exams on capital is sapped, and international corporations are unfastened to pursue their monomaniacal quest for gains unfettered through nationwide allegiance.
Screpanti delves into the internal workings of worldwide imperialism, explaining the way it isn't like earlier varieties of imperialism, how the worldwide distribution of wages is altering, and why multinational businesses have strained to wreck freed from nationwide markets. He sees worldwide imperialism as a constructing approach, one without yes end result. yet something is obvious: while monetary crises develop into possibilities to self-discipline employees, and while fiscal regulations are imposed via more and more authoritarian measures, the imaginative and prescient of a democratic and humane international is what's eventually at stake.
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Extra info for Global Imperialism and the Great Crisis: The Uncertain Future of Capitalism
Sample text
In a speculative climate portfolio investments are destabilizing, being markedly pro-cyclical, and therefore have little effect in boosting growth trends (Calvo and Reinhart, 1999, 2001; Wolf, 2005, 283). 10 One of the most exciting assertions made by neoliberal ideology is that globalization has made a decisive contribution to reducing the number of people living in poverty. The theory is simple. States that liberalize trade and capital movements obtain access to global markets. Mythologies in the New Millennium 31 They can attract private investments, as well as international aid and funding from the IMF and WB, and can export to rich advanced countries.
A New Form of Imperialism 55 My impression is that the theories of dichotomous imperialism are plagued by a dilemma. They are fairly convincing when they argue in favor of states’ political logic being subsumed under the economic logic of capital, but then they have to give up the idea that inter-imperial contradictions are irreconcilable. These theories can also be convincing about the existence of bitter inter-imperial rivalries, but only if they are attributed to the purely political logics of the nation-states’ ruling classes.
A different and more realistic approach is proposed by authors navigating the waters of new imperialism30 theories, which, for love of precision, I would define theories of dichotomous imperialism. While diverging on various issues, these authors have in common a rejection of the concept of super-imperialism, and in particular of the idea that the polity prevails over the economy. They recognize the existence of a drive to expand political power that is distinct from the drive to expand economic power.