New Left Project | Articles | The State and the Making of Global Capitalism

The central theme of our book, The Making of Global Capitalism, is the role of states in the making of global capitalism, and especially the role of the American state as an informal empire in that making—and in superintending it to this day.

The question of the state’s relationship with capital remains an important—and still highly contested—one for scholars as well as activists. In the work of most economists, capitalism is seen as virtually synonymous with markets. Globalisation in this framework is essentially the geographic extension of competitive markets, a process dependent on the removal of state barriers to this, and the overcoming of distance through technology. Political scientists, for their part, have usually understood that markets are not natural and had to be made, and that states are fundamental actors in this process, but they rarely probe deeply into the ways this process has been shaped by the intersections of capitalist social relations and the dynamics of capital accumulation.

via New Left Project | Articles | The State and the Making of Global Capitalism.

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