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The Making of Global Capitalism: The Political Economy Of American Empire [Kindle Edition]

Sam Gindin , Leo Panitch
4.5 out of 5 stars  See all reviews (6 customer reviews)

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Book Description

The all-encompassing embrace of world capitalism at the beginning of the twenty-first century was generally attributed to the superiority of competitive markets. Globalization had appeared to be the natural outcome of this unstoppable process. But today, with global markets roiling and increasingly reliant on state intervention to stay afloat, it has become clear that markets and states aren’t straightforwardly opposing forces.

In this groundbreaking work, Leo Panitch and Sam Gindin demonstrate the intimate relationship between modern capitalism and the American state, including its role as an “informal empire” promoting free trade and capital movements. Through a powerful historical survey, they show how the US has superintended the restructuring of other states in favor of competitive markets and coordinated the management of increasingly frequent financial crises.

The Making of Global Capitalism, through its highly original analysis of the first great economic crisis of the twenty-first century, identifies the centrality of the social conflicts that occur within states rather than between them. These emerging fault lines hold out the possibility of new political movements transforming nation states and transcending global markets.


Editorial Reviews

Review

"Lucid and indispensable guides to the history and practice of American Empire."—Naomi Klein, award-winning journalist and author of The Shock Doctrine

"A must read for everyone who is concerned about where the future of capitalism might lie."—David Harvey, CUNY Graduate Center, author of A Brief History of Neoliberalism

About the Author

Sam Gindin is the former Research Director of the Canadian Autoworkers Union and Packer visiting Chair in Social Justice at York University. Among his many publications, he is the author (with Greg Albo and Leo Panitch) of In and Out of Crisis: The Global Financial Meltdown and Left Alternatives.

Leo Panitch is Canada Research Chair in Comparative Political Economy and Distinguished Research Professor of Political Science at York University. Editor of The Socialist Register for twenty-five years, his many books include Working Class Politics in Crisis; A Different Kind of State; The End of Parliamentary Socialism; and American Empire and the Political Economy of Global Finance.

Product Details

  • File Size: 1414 KB
  • Print Length: 464 pages
  • Publisher: Verso (October 9, 2012)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • ASIN: B007NQVUH6
  • Text-to-Speech: Enabled
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  • Lending: Not Enabled
  • Amazon Best Sellers Rank: #503,964 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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65 of 70 people found the following review helpful
5.0 out of 5 stars Powerful Political Economy October 7, 2012
Format:Hardcover
Panitch and Gindin argue that market economies have never existed independent of nation states. The state was necessary for the genesis of capitalism, and the state was, and still is, necessary for its historical development and continuous reproduction. Nonetheless, Panitch and Gindin argue there is significant autonomy, or historical "differentiation," between the economy and the nation state. There are economic structural tendencies manifest from the logic of capital and the functioning of the market-system. At the same time nation states can affect these structural tendencies in remarkable ways.

In this sense, there has never been "separation" between capitalist reproduction/development and the state, but there is "differentiation" which has radically significant effects. There is a symbiotic relationship between the state and capitalistic reproduction/development.

This is a book of economic history. But is also a book of economic theory. The economic history is rich and interesting, aimed at explaining the historical emergence of global financial capitalism. While the history Panitch and Gindin offer is rich and interesting, the theory is still richer and even more intriguing.

Their history is primarily aimed, (1) at explaining the emergence of the "informal American empire" (what makes this empire "informal" is the hegemony is accomplished primarily through economic strategy, policy, and diplomacy; and less through military might and political coercion) and (2) demonstrating the historical shifting relationship (from decade to decade since the World War I) between workers, business, finance, and the state.
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4 of 4 people found the following review helpful
By Raamin
Format:Kindle Edition|Verified Purchase
Probably one of the most important books written on the political economy of American empire. Pretty impressive list of references and a wide coverage of various aspects of making of Global capitalism since the end of second world war.
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3 of 3 people found the following review helpful
Format:Paperback
Leo Panitch and Sam Gindin have collaborated on a book, "The Making of Global Economy: the Political Economy of American Empire" (i.e. of U.S. neo-colonialism) that combines the virtues of deep analysis and clear language (and clear thinking, too). They do not deal in persiflage that sounds impressive but which ill serves a wide readership; Panitch and Gindin avoid unnecessary resort to jargon. It is refreshing to have a Canadian perspective upon the phenomena which they examine, all the more so since the authors are genuinely progressive, even socialist, in their analysis, without being hide-bound or doctrinaire.

That said, while the public for which they intend their book is wide, it still is for one that has the resolve to take on dense argument and uncompromising depth. The work is not a "quick read" by any stretch of the imagination. The rather small print and profusion of back-references, the latter too replete with much that is substantive and important to the case which the book makes to ignore, can tire the reader, making the volume arduous to handle navigating back and forth within it.

The hardback edition is well and fully bound, ruggedly and durably, with reasonably spaced margins to left and right of pages, but the binding is a tighter than ideal, requiring some effort on the reader's part to hold the pages flat enough for viewing the pages while going forward and back nimbly (and continually) between the main text and the notes. The reader will need two bookmarks while using the book; this reader added two slender coloured ribbons for the purpose to the binding spine of his own copy; that, of course, is not an option for this or most books' paperback editions.
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