Suchergebnisse

Argues that theories of globalization should shift their focus from the ideologies of capitalism & the market to explore the development of the world imperialist system. The dynamics of & contradictions in this development are examined, highlighting structural differentials between dominant & dominated countries. A critical dimension of imperialism -- international seigniorage -- is discussed, offering the struggle between the dollar & the Euro as an example of interimperialist rivalries. The class structure emerging from these developments is examined, identifying the creation of a "world bourgeoisie" & "world proletariat" existing alongside their national counterparts. K. Hyatt Stewart

Argues that theories of globalization should shift their focus from the ideologies of capitalism & the market to explore the development of the world imperialist system. The dynamics of & contradictions in this development are examined, highlighting structural differentials between dominant & dominated countries. A critical dimension of imperialism -- international seigniorage -- is discussed, offering the struggle between the dollar & the Euro as an example of interimperialist rivalries. The class structure emerging from these developments is examined, identifying the creation of a "world bourgeoisie" & "world proletariat" existing alongside their national counterparts. K. Hyatt Stewart

AbstractBrenner's 'The Economics of Global Turbulence' is a review of the world economy in the second half of the 20th century and its momentous changes. It deals with a wide range of issues and developments and is supported by a wealth of statistical and historical material. At the same time, it debunks many of the myths upon which recent (economic) history has been written. Perhaps even more importantly, it seeks the causes of crises in the laws of motion of capital itself (a point made from a different perspective by this review as well).

After a few introductory notes on the relation between production of value, productivity, economic crises, and inflation, this article submits a theory of exchange rates, revaluations, and devaluations in terms of tendential (and counter-tendential) international distribution of value both among individual countries and between the imperialist centre on the one hand and the dominated block on the other. This framework is then used to examine the process leading towards the EMU and the Euro and the conclusion is reached that, in spite of the different EMU countries' divergent interests, their common advantage is that the costs of this further step in the process of European integration will be paid by Europe's labour. Next, the relation between the DM and the Euro on the one hand and the US dollar on the other is clarified and the link is established with monetary crises. The 1994-95 crisis is then used as an illustration.