Forthcoming Edited Volume from NCSGC: Global Capitalism in Asia and Oceania

20 08 2013

We are currently working on putting together an edited volume (tentatively titled: Global Capitalism in Asia and Oceania) that will include mostly papers given at our conference this year at Griffith University in Brisbane, Australia. Stay tuned for more information

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Above: photo from our July conference at Griffith University. This was the 2nd conference of NCSGC.





CFP for Turkey’s ATILIM Social Sciences Journal

24 01 2013

CALL FOR PAPERS

For a Special Issue on

“GLOBAL CAPITALISM AD CRISIS: CRITICAL PERSPECTIVES”

The beginning of the 1990s seemed to have ushered in an era of newfound optimism. History had witnessed, in the space of a few short years, momentous developments that were changing the face of the world. The Berlin Wall was down, and the collapse of the Soviet Union and the Eastern Bloc had made the “Communist threat” a thing of the past. This was the end of the bureaucratic state. “Victory” was the Free World’s. The winds of change were blowing; a new wave of hope and exuberance seemed to be washing over the globe, bringing the ahistorical optimism of liberalism’s free market to every corner. Such powerful global governance institutions as the IMF, the World Bank, and the World Trade Organization were enjoying a resurgence in prestige, and the world certainly did seem as if it were being cut down to size with the reform and structural adjustment programs these institutions were overseeing throughout the vast and undeveloped South. That the world had become a smaller, more accessible place was attested to by the opening of national borders to the “free” movement of capital and goods, with the hype surrounding the so-called “miracle” states being lanced as models of successful integration into globalizing markets, and with technical innovations in the media, communications, and information technologies industries that were said to be, more than at any other time, transforming the world into a “global village”. Understanding globalization had become the order of the day, and referring to the benefits of a globalizing world a requisite in interpreting current events. To question the globalization process was nothing less than foolhardy. The victory of this free market understanding and of international capitalism was celebrated as the end of history.

Read the rest of this entry »





Global markets are the new battlefields

20 11 2012

By Kanishka Jayasuriya

The rise of China and its ramifications for our relationship with the US has created angst within Australia’s foreign and defence policy community.

Much of this tortured reflection is really a zombie debate where outmoded geo-political terms such as ‘power transition’ are deployed to understand new patterns of international politics in a globally integrated economy. Read more >>





The New Stage of Capitalist Development and the Prospects of Globalization

29 05 2012

By George Liodakis

A historical assessment of the Leninist conception of imperialism is the necessary foundation for a theoretical periodization of capitalism, in which the current developments and rising globalization have led to a dialectical supersession of imperialism. The emerging new stage of capitalism is characterized as transnational or totalitarian capitalism. The structural characteristics and basic trends of this new stage of capitalism stand in interesting contrast to the theoretical conception of Empire, proposed by Hardt and Negri. The former approach offers a more adequate framework for understanding the current restructuring of capitalism and a safer political guide for the emancipating working-class struggle towards a socialist supersession of capitalism. READ THE ARTICLE >>





Empire, Global Capitalism, and Theory: Reconsidering Hardt and Negri

28 03 2012

by Jeb Sprague

It has been over a decade since the publication of Michael Hardt and Antoni Negri’s widely read Empire, a book that claimed humanity had entered a qualitatively new era in the organization of power. How do critical sociological studies that also theorize global capitalism depart from or share affinities with Hardt and Negri’s Foucauldian-inspired notion of empire? The two most important shared insights is the notion of a new epoch in the history of world capitalism and the conceptualization of a global system that moves beyond the idea of U.S. imperialism solely as behind its fundamental structure. However, overpowering Hardt and Negri’s framework are some fundamental problems: the vague and nondialectical idea of multitude, the lack of the role of the state, their confusing and contradictory idea of constitutionalism, and a misapprehension of immaterial labor. READ THE ARTICLE >>





The World Economic Crisis and Transnational Corporations

21 03 2012

By Jerry Harris

Abstract: Although the world economic crisis has slowed the flow of global investments and production, transnational capitalism has become more centralized through greater monopolization. We can trace this development in the auto industry with an examination of state intervention, transnational alliances and global competition. Far from developing a nation-centric recovery plan the Obama bail-out deepens the auto industry’s global character. This example shows how the transnational capitalist class works through the State to strengthen its dominant position over national capital. READ THE ARTICLE >>





Information Technology and the Global Ruling Class

21 03 2012

By Jerry Harris

Globalization is a new epoch in the history of world capitalism. The integration of finance, production and markets, and the speed at which they operate, has never been as deep and transformative as today. From its birth capitalism developed as a world system and throughout its history has introduced innovative technologies. It’s need for growth and profits has not changed. But the manner and structure in which this unfolds has. As colonialism reflected mercantile capitalism and imperialism was an extension of industrial capitalism, globalization has emerged from the foundations of information capitalism. Information technology (IT) is different from other historically new innovations like the blast furnace or automobile because of its ability to revolutionized other technologies. This is IT’s qualitative difference, the ability to transform the means of production and profoundly reshape capital/labor relations. Leading this process is the transnational capitalist class as they build a new social structure of global accumulation. READ THE ARTICLE >>





The Global Capital Leviathan

21 03 2012

By William I. Robinson

The money mandarins of global capitalism and their political agents are utilizing the global crisis to impose brutal austerity and attempting to dismantle what is left of welfare systems and social states in Europe, North America and elsewhere. The budgetary and fiscal crises that supposedly justify spending cuts and austerity are contrived. They are a consequence of the unwillingness or inability of states to challenge capital and their disposition to transfer the burden of the crisis to working and popular classes. Global mobility has given capital enhanced class power over nationally based working classes and extraordinary structural influence over state managers who seek economic reactivation and macroeconomic stability. READ THE ARTICLE >>





The Crisis of Global Capitalism: Cyclical, Structural, or Systemic?

21 03 2012

By William I. Robinson

The crisis that exploded in 2008 with the collapse of the global financial system has been in the making since at least the late 1990s. How we understand it is not just an academic but a burning political question. I want to suggest in this essay that the global capitalism perspective I have put forth in recent years offers a powerful explanatory framework for making sense of this crisis. Following Marx, we should focus on the internal dynamics of capitalism to understand the Crisis; and following the global capitalism perspective, we should look for how capitalism has qualitatively evolved in recent decades. This system-wide crisis will not be a repeat of earlier such episodes in the 1930s or the 1970s precisely because world capitalism is fundamentally different in the early twenty-first century. READ THE ARTICLE >>





European Capitalism: Varieties of Crisis

21 03 2012

By Ingo Schmidt

In the midst of the 2008/9 crisis of the world economy (European Commission 2009), a new term crept into financial parlance: PIIGS, short for: Portugal, Ireland, Italy, Greece, Spain. At that time, the broader public was still trying to understand the meaning of CDOs (Collateralized Debt Obligations), CDSs (Credit Default Swaps), and other fancy financial products including their role in the financial crisis. Governments and central bankers were busy working to contain a sharp recession and save private profits with huge infusions of zero-interest credit, government spending and bank bailouts. As a result of these efforts, the crisis of private finance and capital more generally was transformed into a fiscal crisis of the state. Neoliberal economists and media pundits happily used their chance to point at rapidly rising levels of public deficits and debt but downplayed the share of bank-bailouts in rising deficits. At the same time, they constructed the PIIGS to show how spend-thrifty governments run the risks of capital flight and state bankruptcy. READ THE ARTICLE >>