By Stephen Haseler
Filenote: PDF from ebrary, Palgrave Macmillan. Palgrave's PDF retail has no hide, no bookmarked TOC or copyright Page., else great imprint/vector. PDF has 222 pages and comprises notes/index.
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In The Super-Rich, Stephen Haseler describes the transforming into tensions prompted in the course of the West by means of the effective new worldwide capitalism. Drawing at the most up-to-date learn, he unearths the intense wealth of a brand new international super-rich classification, and the way this category, in the course of the strategy of globalization, is actually remaking the area in its photo. He means that whilst the world's 3 richest humans can own resources worthy greater than the mixed economies of the entire least-developed international locations, and while the wealthiest 500 can personal as a lot wealth as part the inhabitants of the globe, then 'we definitely have a serious challenge, if now not precisely a social nightmare on our hands'.
Professor Haseler argues that today's new worldwide capitalism, in contrast to cold-war capitalism, is unconstrained through state, neighborhood or perhaps minimum social legal responsibility. during this new economic climate, international organizations are the good winners. they're now unfastened to bid down charges (wages and taxes) via enjoying even the biggest governments off each other. As they achieve burgeoning earnings for the super-rich when eroding the steadiness and defense of the source of revenue of the conventional western center sessions, they're ushering in an period of acute social department.
Stephen Haseler exhibits how this risky new worldwide capitalism will be tamed. He argues that the belief of the 'Third Way' is way too pleasant to international capitalism and that what's wanted is a dose of genuine social democracy which reasserts the political neighborhood and public provider. He means that now that the geographical region is more and more inappropriate, in basic terms neighborhood large powers - just like the eu Union - have the ability to guard us from international capitalism and repair a extra socially simply society
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Extra resources for The Super-Rich: The Unjust New World of Global Capitalism
Sample text
It is the pension funds that give overclass capital its democratic face, for pension funds represent the savings of millions of ordinary people, who indirectly (and unknowingly) take part in the stock markets. `When the Cold War ended in 1989 there were less than one hundred million people in the world economy who owned shares through pensions. 44 Pension funds are truly enormous. In Switzerland, Denmark, Holland, the United States, Britain and other Anglophone countries private 42 The Super-Rich pension programmes have assets that equal 50±100 per cent of GDP.
The West's social problems could be mitigated by a series of radical and creative measures to maintain overall living standards, such as job sharing or non-profit infrastructural work, as well as increased leisure. 32 Yet, of course, in a climate in which increasing share performance and profits are demanded the pressures are all the other way: technology opens up a world in which more people will join the league of the super-rich and the existing super-rich will grow even wealthier. Corporate unbound: space stations circling the Earth The free movement of capital ± out of the domestic economies and into the global system ± is largely made possible by the great arteries of the system carrying the life-blood of big mobile money.
Has a disinclination to quit the country of his birth . . 39 Now, however, globalism, the workings of the transnational corporation and footloose capital have led theorists to puncture this logic, for the new realities of the global economy, with its large amounts of mobile capital, make such a model redundant. Gray himself is one of a number of theoreticians who believe that `both in theory and practice the effect of global capital mobility is to nullify the Ricardian doctrine of comparative advantage', and according to Martin and Schuman, `Ricardo's basic postulate [comparative cost advantage] .