Download PDF by Henry Veltmeyer, James F. Petras: A System in Crisis: The Dynamics of Free Market Capitalism

By Henry Veltmeyer, James F. Petras

ISBN-10: 1459322878

ISBN-13: 9781459322875

Mounting hostility to the hegemony of the USA; tumbling inventory markets; environmental destruction; slow fiscal progress, unparalleled source of revenue inequality, and becoming poverty: anything primary is incorrect, argue Petras and Veltmayer.

They assert that globalization is a trifling euphemism for capitalism in its present international, imperialist projection. They exhibit how resistance to capitalist globalization is being prepared between very varied social sectors, from rural peasants to the center type in filthy rich international locations of the North. They finish their research by way of assessing the chances for unifying the varied forces of competition to neoliberalism, capitalism and imperialism and the customers for another socialist kind of improvement.

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Some of yesterday’s Muslim clients (for example, the Taliban) are today’s enemies. The new military alliance in Afghanistan is built around rival tribal warlords who live off contraband, drug trafficking and booty from local wars. However, the thread that unifies these changing alliances is the need to defend imperial spheres of domination. The apparent hypocrisy or double standard of the imperial elites is only in the eyes of a beholder who mistakenly believes the propaganda of empire and now feels betrayed by the switch in imperial clients.

This crisis is manifest with regard to the projects of development and globalization but is particularly sharp as concerns the new imperialist project. With regard to the development project, the crisis of the Left is manifest in the turn many leftists have taken away from the realities of class and state (and the need to confront this power through direct, collective action) and towards alternative forms of development and local power. In this turn, the social Left, in the form of non-governmental organizations (rather than political parties or socio-political movements) has knowingly or unwittingly abandoned the confrontationalist politics of direct action in exchange for an intermediary role vis-à-vis the poor.

The US would be the undisputed world power, capable of securing absolute 41 42 / System in Crisis control over strategic resources and a privileged place in the world market (New York Times, 8 March 1992: 14). Written in the first flush of military victory in the first Gulf War, the document projected the US-dominated military coalition as a basis for stable, long-term empire building. Predictably (Petras and Morley 1995), this NWO failed to materialize. The wartime alliance weakened, boycotts of adversaries were undermined and while the Empire advanced in the Balkans it was challenged in the Middle East, Latin America and the streets of Europe and the US.

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A System in Crisis: The Dynamics of Free Market Capitalism by Henry Veltmeyer, James F. Petras


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