Subjects Archives: Globalization

On 3 September, a four-day legal challenge to the UK’s sovereignty over the Chagos Islands began in the International Court of Justice (ICJ). The islands are part of an archipelago located in the British Indian Ocean Territory (BIOT), and home to U.S. airbase Diego Garcia.

For the last thirty years the world system has undergone an extreme centralization of power in all its dimensions, local and international, economic and military, social and cultural.

Once the internet became the world’s central nervous system, the U.S. borders were extended across the planet.

The conventional wisdom is there have been two globalizations in the modern era. This paper challenges that view and argues there have been three globalizations, not two.

The deepening of economic globalization appears to have ground to a halt and the process may even unravel a little. The sudden stop has surprised economists, whose belief in globalization has strong parallels with Fukuyama’s (1989) flawed end of history hypothesis.

Public awareness and acceptance of the negative consequences of corporate-driven globalization on U.S. workers has grown dramatically over the last years, aided in part by Donald Trump’s attacks on trade agreements like NAFTA.

In this episode, we speak with Fadhel Kaboub (@fadhelkaboub), associate professor of economics at Denison University and President of the Global Institute for Sustainable Prosperity. Fadhel outlines a new critical approach to postcolonial political economy, arguing that re-gaining financial sovereignty is a crucial next step for postcolonial nations hoping to achieve social, economic, and environmental justice.

There was a day when the world realised they’d had enough of America. It wasn’t when America turned it back on the Herculean effort to sign the world up to the Paris Climate Agreement or TTIP or America’s continuous support for Israel’s murderous actions in Gaza or various other deals that took years to iron out and negotiate that have since been trashed. It was a moment we knew was going to happen but least expected to prove so important.

Faced with questions about the continued relevance of the North Atlantic alliance, NATO has sought justification for its existence from Central Asia to Sub-Saharan Africa and has even floated the idea of indirect intervention in the South China Sea dispute.

There is no time for long introductions. The world is, possibly heading for yet another catastrophe. This one, if we, human beings will not manage to prevent it, could become our final.

In this in-depth interview conducted in Dakar, Samir Amin speaks on a wide range of topics: globalisation; generalised monopoly capital; the alarming growth of inequality; the role of the state in the neoliberal era; globalisation and delinking; capitalism and modernity; the return of fascism in the contemporary capitalist world, and more.

The encroachments of European traders, missionaries, explorers, planters, soldiers, and especially scholars and teachers, represented not civilization but rather, its antithesis.

ON March 8, Donald Trump made an announcement which according to many has the potential of starting a global trade war. He announced that the U.S. would be raising tariffs on imported steel by 25 per cent and tariffs on imported aluminium by 10 per cent.

Understandably concerned about the consequences of the large and sustained U.S. trade deficit, many workers have grown tired of waiting for so-called market forces to produce balance. Thus, they cheer Trump administration promises to correct the imbalance through tariffs or reworked trade agreements that will supposedly end unfair foreign trade practices.

Looking at the present and future system of capitalism, there is a vital crisis at the heart of it all. Democratic capitalism, starting out in the 18th century, has had its ups and downs but even Marx, Keynes, Rosa Luxemberg, and Kondratieff have all failed to establish theories to break out of the capitalist system.

The Precariat under Rentier Capitalism Guy Standing We are in the midst of a Global Transformation, analogous to Karl Polanyi’s Great Transformation described in his seminal 1944 book. Whereas Polanyi’s Transformation was about constructing national market systems, today’s is about the painful construction of a global market system. To use Polanyi’s term, the ‘dis-embedded’ phase has been dominated by an ideology of market liberalisation, commodification and privatisation, orchestrated by financial interests, as in his model. The similarities also extend to today’s fundamental challenge, how to construct a ‘re-embedded’ phase, with new systems of regulation, distribution and social protection.

The global labor arbitrage means the only competitive “advantage” available to most countries is forcing workers to accept slave wages and environmental standards low enough to lure in multinationals. If the population resists, the only means available to diffuse it is brutal repression.

Seymour Hersh is a Pulitzer Prize-winning journalist who famously exposed the My Lai Massacre in Vietnam, and more recently, the U.S. military’s abuse of detainees at Abu Ghraib prison. This weekend, Hersh reported that the alleged chemical attack in Idlib, Syria, this March was not perpetrated by the Syrian military, as the Trump administration has claimed

“Capitalism cannot reform itself; it is doomed to self-destruction. No universal selfishness can bring social good to all. Communism—the effort to give all men what they need and to ask of each the best they can contribute—this is the only way of human life.” With this sober stroke of his insurgent pen, the 93-year-old scholar joined the Communist Party.

With the reassertion of the dominance of finance, in the guise now of an international finance capital, the third world States have withdrawn from supporting petty producers, a process of income deflation is in full swing, and the imperialist arrangement is back in place, because of which we can see once more a tendency towards a secular decline in per capita food-grain availability in the third world as in the colonial period.