Super Imperialism: The Economic Strategy of American Empire | Michael Hudson

The Triumph of Broken Promises — Harvard University Press

A powerful case that the economic shocks of the 1970s hastened both the end of the Cold War and the rise of neoliberalism by forcing governments to impose austerity on their own people.Why did the Cold War come to a peaceful end? And why did neoliberal economics sweep across the world in the late twentieth century? In this pathbreaking study, Fritz Bartel argues that the answer to these questions is one and the same. The Cold War began as a competition between capitalist and communist governments to expand their social contracts as they raced to deliver their people a better life. But the economic shocks of the 1970s made promises of better living untenable on both sides of the Iron Curtain. Energy and financial markets placed immense pressure on governments to discipline their social contracts. Rather than make promises, political leaders were forced to break them.In a sweeping narrative, The Triumph of Broken Promises tells the story of how the pressure to break promises spurred the end of the Cold War. In the West, neoliberalism provided Western leaders like Ronald Reagan and Margaret Thatcher with the political and ideological tools to shut down industries, impose austerity, and favor the interests of capital over labor. But in Eastern Europe, revolutionaries like Lech Walesa in Poland resisted any attempt at imposing market discipline. Mikhail Gorbachev tried in vain to reform the Soviet system, but the necessary changes ultimately presented too great a challenge.Faced with imposing economic discipline antithetical to communist ideals, Soviet-style governments found their legitimacy irreparably damaged. But in the West, politicians could promote austerity as an antidote to the excesses of ideological opponents, setting the stage for the rise of the neoliberal global economy.

Mercantilisme et capitalisme de la finitude : aux origines de l’Empire Trump | Le Grand Continent

Les seigneurs de la Silicon Valley s'installent dans l'État américain : un nouveau pouvoir disrupte le libéralisme et la démocratie. Vivons-nous un moment inédit ? Il y a quatre cents ans, une start-up de la City – la Compagnie des Indes – se lançait déjà dans une entreprise de conquête mondiale similaire. Pour expliquer Trump et Musk, Arnaud Orain renoue avec les fils de cette histoire, en forgeant un concept : le capitalisme de la finitude.

Lenin und seine Imperialismus-Broschüre – Kommunistische Organisation

Paul Oswald setzt sich im folgenden Beitrag mit Teilen des Quellenmaterials von Lenins Imperialismus-Broschüre auseinander. Anhand eines vergleichenden Blicks zwischen Lenins Broschüre und vorangegangenen theoretischen Auseinandersetzungen innerhalb der Arbeiterbewegung sowie der bürgerlichen Wissenschaft wird das Alleinstellungsmerkmal von Lenins Untersuchung herausgearbeitet. Durch diesen Vergleich wird insbesondere Lenins Entwicklung des Begriffs des Imperialismus aufgezeigt und damit ein Zugang zur Imperialismus-Broschüre eröffnet wird, der in der Debatte unterrepräsentiert ist.

How to Hide an Empire: A History of the Greater United …

A pathbreaking history of the United States' overseas p…

Exocapitalism: economies with absolutely no limits

There is a touch of destiny with this one. We have real…

Imperial Ends: The Decay, Collapse, and Revival of Empires

Despite their historical importance, empires have received scant attention from social scientists. Now, Alexander J. Motyl examines the structure, dynamics, and continuing relevance of empire—and asks, "Why do empires decline? Why do some empires collapse? And why do some collapsed empires revive?"Rejecting choice-centered theories of imperial decline, Motyl maintains that the very structure of empires promotes decay and that decay in turn facilitates the progressive loss of territory. Although most major empires have in fact declined in this manner, some, such as the Soviet Union, have collapsed suddenly and comprehensively. Motyl explains how and why collapse occurs, why such an outcome is hard to foresee, and why some collapsed empires revive. While broad-ranging historically and empirically, Imperial Ends focuses on five modern empires: the Soviet, Romanov, Ottoman, Habsburg, and Wilhelmine.Examining the possibility of a revival of the Soviet empire, Motyl points out that the expansion of NATO and the European Union, along with increasing globalization, will isolate Russia and its neighbors, promoting their dependence upon one another and perhaps facilitating the rise of the former core. With boldly stated conclusions and concise analytical interpretations, Imperial Ends cohesively illustrates to policymakers and social scientists alike the importance of possible imperial revivals and the rise of future empires.

The Weaponized World Economy

When Washington announced a “framework deal” with China in June, it marked a silent shifting of gears in the global political economy. This was not the beginning of U.S. President Donald Trump’s imagined epoch of “liberation” under unilateral American greatness or a return to the Biden administration’s dream of managed great-power rivalry. Instead, it was the true opening of the age of weaponized interdependence, in which the United States is discovering what it is like to have others do unto it as it has eagerly done unto others.

Global Inequality — Harvard University Press

Winner of the Bruno Kreisky Prize, Karl Renner InstitutA Financial Times Best Economics Book of the Year An Economist Best Book of the Year A Livemint Best Book of the YearOne of the world’s leading economists of inequality, Branko Milanovic presents a bold new account of the dynamics that drive inequality on a global scale. Drawing on vast data sets and cutting-edge research, he explains the benign and malign forces that make inequality rise and fall within and among nations. He also reveals who has been helped the most by globalization, who has been held back, and what policies might tilt the balance toward economic justice.“The data [Milanovic] provides offer a clearer picture of great economic puzzles, and his bold theorizing chips away at tired economic orthodoxies.”—The Economist“Milanovic has written an outstanding book…Informative, wide-ranging, scholarly, imaginative and commendably brief. As you would expect from one of the world’s leading experts on this topic, Milanovic has added significantly to important recent works by Thomas Piketty, Anthony Atkinson and François Bourguignon…Ever-rising inequality looks a highly unlikely combination with any genuine democracy. It is to the credit of Milanovic’s book that it brings out these dangers so clearly, along with the important global successes of the past few decades.—Martin Wolf, Financial Times

Further Back to the Future: Neo-Royalism, the Trump Administration, and the Emerging International System

With the Liberal International Order (LIO) in decline, scholars have focused increasingly on the possible return to a Westphalian great power system marked by sovereigntist claims and balancing among states. The actions of the Trump administration, however, raise a number of significant puzzles for such accounts—the US seems willing to sign deals with traditional adversaries including Russia and China, while targeting long-standing allies like Canada and Denmark. At the same time, transactional politics often serve narrow personalist interests rather than national objectives. In short, a Westphalian lens focused on states and sovereignty may generate intellectual blinders that misreads the emerging international order. To overcome these limitations, we propose an alternative account, which we label neo-royalism. The neo-royalist order centers on an international system structured by a small group of hyper elites, which we term cliques. Such cliques seek to legitimize their authority through appeals to their exceptionalism in order to generate durable material and status hierarchies based on the extraction of financial and cultural tributes. This short paper lays out the key elements of the neo-royalist order, differentiating it from the Westphalian and Liberal International Orders, and applies its insights to better grapple with the emerging system being promoted by the United States under Donald J. Trump. For policymakers and scholars, the neo-royalist approach clarifies recent events in US foreign policy. Theoretically, the field should take contending ideas of international order seriously, and establish a research agenda beyond a backward looking view to the Westphalian moment.

1% for the People

Capitalism is the undisputed powerplant of global prosperity. Since Adam Smith first described the “invisible hand” that allows economies to be efficiently self-organizing and self-renewing, every attempt to supplant it with a competing system has failed spectacularly.

The Formation and Evolution of the Soviet Union’s Oil and Gas Dependence

Between the end of World War II and the mid-1960s, the Soviet Union’s economy was one of the most vibrant in the world. The country had successfully launched the first man into space and was competing with the United States in developing cutting-edge military technology. However, by the end of the 1980s, the economy was in a miserable state.

Art Spiegelman: ‘The US needs a counter-revolution’

More than four decades after his Holocaust story Maus transformed the graphic novel genre, Art Spiegelman discusses Trump, the shadow of 9/11 and the rise of fascism in America

Imperial State Capitalism

A new geopolitics is shaping the development of AI and the energy transition.