By Leo Panitch, Martijn Konings
In a full of life critique of ways overseas and comparative political economic climate misjudge the connection among worldwide markets and states, this publication demonstrates the valuable position of the yankee nation in contemporary international of globalized finance. The individuals put aside conventional emphases on army intervention, having a look as an alternative to economics.
Read Online or Download American Empire and the Political Economy of Global Finance (International Political Economy) PDF
Similar economic policy & development books
The Economics of European Integration: Limits and Prospects
It truly is of paramount significance that ecu enterprises, traders and international locations, think about the results, alterations and possibilities of eu integration of their decision-making approaches. this is often bolstered by means of the truth that the european has been always evolving and enlarging. This textbook is likely one of the first to hide the topic of the economics of the ecu, together with all 25 member international locations in addition to a number of different capability candidate international locations.
The Marxian Concept of Capital and the Soviet Experience: Essay in the Critique of Political Economy
This paintings establishes the distinctiveness of the Marxian classification of Capital at the foundation of the unique texts by way of Marx. The research has been overlooked within the current literature. The wage-labor courting is proven to be important and enough for the life of capital(ism). person possession is proven to be a specific kind of capitalist deepest estate that could additionally take the shape of collective possession.
Social Science Knowledge and Economic Development: An Institutional Design Perspective
Ruttan advances a version of institutional switch, which creates an atmosphere the place source and cultural endowments and technical switch can ensue. The disequilibria because of such alterations create possibilities for the layout of extra effective institutional preparations. The layout standpoint hired within the ebook stands in sharp distinction to natural or evolutionary views.
A deft and caustic takedown of the hot prophets of revenue, from invoice Gates to Oprah As critical environmental degradation, breathtaking inequality, and lengthening alienation push capitalism opposed to its personal contradictions, mythmaking has turn into as imperative to maintaining our economic system as profitmaking. input the hot prophets of capital: Sheryl Sandberg touting the capitalist paintings ethic because the antidote to gender inequality; John Mackey promising that unfastened markets will heal the planet; Oprah Winfrey urging us to discover recommendations to poverty and alienation inside ourselves; and invoice and Melinda Gates delivering the generosity of the 1 percentage because the solution to a power, systemic inequality.
Extra resources for American Empire and the Political Economy of Global Finance (International Political Economy)
Sample text
2. From Bretton Woods to neoliberalism: ‘hesitations and false starts’ Once we recognize the post-war period as the cradle of a new, globalizing and liberalizing American imperium, its implications for future developments become clearer. At the end of the 1950s the American state was not merely at the apex of a hierarchy of states, but was by now a qualitatively different kind of state from the rest, and was internationalized in a distinct way. 11 But while all the advanced capitalist states increasingly recognized (to varying degrees) the responsibility they had to participate in the 26 Contours and Sources of Imperial Finance management of international capitalism, they also recognized – and increasingly insisted on – the central role the American state had to play in this.
The post-war balance of class forces meant that labour could not be repressed as it had been before, which made it all the more important that financial capital should be reinforced. How far this could be accomplished varied from country to country. But it was certainly expressed in the determination with which the Bundesbank and the Finance Ministry in Germany espoused neoliberal monetarist policies throughout the post-war period. And, in the UK, the Bank of England – even after its nationalization by the post-war Labour government – continued to represent the interests of the City of London, often in alliance with a UK Treasury increasingly obsessed with restraining union wage power under conditions of high employment.
In turn, the growth of untrammelled global financial markets over the past quarter century has usually been seen in terms of the ‘liberation’ of finance from its post-war constraints. But the 1980s did not suddenly launch the liberalization and Americanization of international finance. No less a practitioner of financial capital and American power than Paul Volcker has stressed the continuity: ‘I take it almost as an article of faith (a faith that in this case can be backed by facts) that the United States, as the dominant power after World War II and for decades afterwards, was the driving force toward a liberal trading order and the freedom of international investment’ (Volcker and Gyohten 1992: 288).