We are in the throes of a transition to a qualitatively new stage of world capitalism. Its essence is the emergence of truly transnational capital, a transnational capitalist class (TCC) made up of the owners and managers of transnational corporations, and transnational state apparatuses through which the TCC attempts to exercise global political authority. This corporate-driven globalization has brought a vast new round of global enclosures as hundreds of millions of people have been uprooted and converted into surplus humanity. The extreme global inequality that has resulted erodes social cohesion and fuels unrest. In response, the more enlightened members of the transnational elite clamor for a powerful transnational state to resolve the ecological, social, economic, and political crises of global capitalism, but instead a global war economy and a global police state may be in the offing. If we are to avoid a civilizational collapse and reach a Great Transition, we will need an accurate reading of the new global capitalism to guide our social practice....
Tags: #global capitalism, #transnational capitalist class, #transnational corporate totalitarianism, #corporate statism, #fascism
Someone tell the people.
BTW, this is a really good article. If no time now, save it for the weekend.
It underscores what I have been saying for some time. Just looking at national economies in a globalized world is insufficient. Economics now must be pursued from the perspective of closed globalized economy rather than a collection of open national economies.
This is the way that the transnational capitalist class, "Davos man," is already viewing it. These are people commanding integrated supply chains and global markets, to whom borders are inconveniences.
Global capitalism does not consist of the aggregation of “national” economies, but their integration into a greater transnational whole.…
Economic globalization entails the fragmentation and decentralization of complex production chains and the worldwide dispersal and functional integration of the different segments in these chains. Yet this fragmentation and decentralization is countered by a reverse movement: the centralization and concentration of worldwide economic management, control, and decision-making power in a handful of ever more powerful transnational corporations (TNCs).
It's pretty clear from the article that socialism of some type is needed to counter the trend. This actually accords with the principle of dialectical logic that a form is not subsumed by the dominant emerging form in the succeeding moment until the initial form has exhausted its potential and succumbs to rising internal contradictions.
Radical Political Economy
