economic globalisation

Doug Henwood dhenwood at
Fri Aug 11 09:17:05 MDT 1995

At 2:22 PM 8/11/95, wdrb at wrote:
>Having read about the world economy for a number of years
>in International Business Week I believe that
>Lenin's "Imperealism, the highest stage of capitalism"
>is now an entirely inadequate description of the world
>economy. There is no longer a correspondence between
>blocks of capital, monopolistic nationally based enterprises
>and the nation state. The circuits of capital have broken
>the bounds on the nation state. Trans-national enterprises
>have fixed capital in every continent. The share capital of such
>companies is traded internationally. Big capitalists such as Rupert
>Murdoch and George Soros are of indeterminate nationality.
>Although there has been some move to form three
>great trade blocs, every potential trade war is
>defused and the trade and exchange between these
>blocs continually grows. The major transnational
>companies have productive capacity and sales in
>each bloc.
>I am not hostile to Lenin and still believe
>capitalism needs to be overthrown by revolution.
>Does the above brief description of the world
>economy make sense? Are other Marxists writing
>in these terms (can anyone recomend books
>or articles)?

I agree with this. I subscribe to the model offered by what used to be
called the UN Centre on Transnational Corporations - which has been
organizationally tranformed and demoted on orders from Washington - which
is that the three metropoles are gathering about them 5 or 10 poorer
countries to act as their low-wage assembly platforms but at the same time
are deeply connected to each other through trade and investment links. That
is, regional integration plus the integration of what the organization
formerly known as the CTC calls "The Triad." This radically simplifies
global trade negotiations since it sharply reduces the number of important
parties to three (plus some of the larger NICs, but their power is nothing
compared to the Big Three). The ruling class is clearly consolidating on a
global level and the working class is left woefully behind, presenting us
with spectacles like unionized US autoworkers blaming "Mexicans" for taking
their jobs.



Doug Henwood
[dhenwood at]
Left Business Observer
250 W 85 St
New York NY 10024-3217
+1-212-874-4020 voice
+1-212-874-3137 fax

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