globalizatio of capital

wdrb at siva.bris.ac.uk wdrb at siva.bris.ac.uk
Tue Apr 25 17:58:21 MDT 1995


On Globalisation:
both the ownership of transnational companies has become significantly more
international and the share of world industrial production that they
contribute has steadily increased. The model of world capitalism
produced by Lenin in "Imperealism..the highest stage of capitalism"
does not seem to me be an adequate description of the world economy
today. Five years of reading International Business Week has convinced
me of this. Unfortunately, Lenin's adamant insistence that his powerful
description of world capitalism in 1916 would suffice for the rest
of the future of capitalism has stopped people following developments
in the world economy for fear of being branded as "renegade traitors"
to the working class. It seems to be Lenin's model was based upon a
correspondence between blocks of nationally owned capital and
nation states. These formed up into predatory Imperealist powers
which then struggled for world domination. So British capital,
controlled by the British ruling class corresponded to the
British nation state and drove British Imperealism.

The circuits of capital have escaped the fetters of the
nation state. The division of labour is now so transnational
that Imperealist war would threaten economic collapse
for all. The development of the means of destruction mean
that such a war would threaten the existence of the bourgoies.
With Japanese, US and European transnationals having
significant constant capital and markets on four
continents what is the 'national interest' of the
ruling class of one country?

The globalisation of capital means the demise of
the nation state and thus the principal weapon of the
ruling class to devide and distract the workers -
patriotism, national chauvinism and war - is lost.
Jolly good job to.

Which ruling class would you say that Rupert
Murdoch is a leading representative of -
the USA, Britain, Australia or Europe?

Sorry about the spelling and stupidly
simplistic view of things...
Will Brown	Bristol


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