Subjects Archives: Globalization

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.

Photographs and video clips posted online on June 8 show blinding spots of light over the northern Syrian city of Raqqa. The pictures, distributed by the Amaq News Agency, which is linked to Daesh, and activist group Raqqa is Being Slaughtered Silently, show puffs of white light and smoke, which are signs of white phosphorous.

Growing inequality has been one of the most salient features of the US economy over the last 40 years. A variety of explanations for this rapid growth in top incomes have been proposed, including growing firm size new technology, the market for superstars, poor governance, and changes in top tax rates.

If accumulating wealth is the basic objective of capitalism, organising production using wage labour is only one of the ways it can be achieved. What finance does is to open an alternative route to reach the same objective, that is via transaction.

Last week Puerto Rico officially became the largest bankruptcy case in the history of the American public bond market. On May 3, a fiscal control board imposed on the island’s government by Washington less than year ago suddenly announced that the Puerto Rico’s economic crisis “has reached a breaking point.” The board asked for the immediate […]

I. The Piketty Argument Thomas Piketty’s book Capital in the Twenty-first Century embodies an immense amount of empirical research into the distribution of wealth and income across the population for a number of advanced capitalist countries going back for over two centuries.  In particular Piketty has made extensive use of tax data for the first […]

Despite the prolonged global economic crisis since 2007/2008, neo-liberal economic thought and practice continue to reign supreme.  In his important book Capitalist Globalization: Consequences, Resistance, and Alternatives (Monthly Review Press, 2013), Martin Hart-Landsberg makes a number of key interventions unraveling the myth of neo-liberalism as well as the dynamics underlying capitalist accumulation. First, he identifies […]

The race of globalization is leaving the majority of the world’s population far behind.  According to UNICEF, the richest 20% of the population gets 83% of global income, while the poorest quintile has just 1%.1  This trend is getting worse.  A new UNDP report called “Humanity Divided” estimates that 75% of the world’s population lives […]

One state or two?  Boycott of Israeli goods or goods from the settlements?  Is the lobby the genesis of American wrongdoing in Palestine or is it imperialism?  The questions — regarding vision, strategy, and analysis — produce sharp cleavages on the Left.  Indeed, generally ones much deeper than they need to be.  And they remain […]

  “These NGOs funded by the World Bank, Ford, and so on — why are they participating, mediating what public policy should be? . . .  The World Bank runs 600 anti-corruption programs just in places like Sub-Saharan Africa.  Why is the World Bank that interested in anti-corruption?  I looked at five of the major […]

Iran’s recent successful launch of a second satellite into orbit has drawn considerable attention around the world. As in the past, Iran’s announcement of the launch of its domestically built satellite into space received mixed reactions in the West. Some mainstream U.S. media treated the announcement with skepticism and ridicule. “Before you cancel that European vacation or start building a bomb shelter, it’s worth taking Iran’s boasts with a grain of salt,” one commentator wrote in Wired. “While Iran has cooked up some indigenous weaponry over the years, its desire to puff out its chest and pronounce immunity from the effects of international sanctions has led to some absurd exaggerations and outright lies.”

  Barack Obama won the Nobel Peace Prize in 2009 while at the same time sending more troops to the Afghanistan War.  What has become of the promise of “change”? I am one of the few who are not disillusioned, because I had no expectations.  I had written about Obama’s positions and prospects even before […]