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International Institutions Today: An Imperial Global State in the Making, by B. S. Chimni

"The article argues that a growing network of international institutions — economic, social, and political — constitute a nascent global state, whose current task is to realize the interests of an emerging transnational capitalist class in the international system to the disadvantage of subaltern classes in the third and first worlds. The evolving global state formation can therefore be described as having an imperial character. Underpinning the emerging imperial global state is a web of sub-national authorities and spaces that represent, along with non-governmental organizations, its decentralized face. These developments, it is contended, seriously undermine substantive democracy at both inter-state and intra-state levels. Eight possible objections to the thesis that a nascent global state having an imperial character has evolved are next considered and rejected. The concluding section briefly explores the question as to whether international institutions can be reformed, the vision that should inform change, and some concrete proposals in this regard. It argues the case for a complex internationalism in which statist reforms are necessary in the short and medium terms. These reforms can only be brought about by a powerful global social movement."

The neoliberal (counter-) revolution

G Duménil, D Lévy There is a dramatic contrast between the last twenty years of the 20th century and the previous decades since World War II. It is common to describe the last twenty years of capitalism as “neoliberalism”. Indeed, during the transition between the 1970s and 1980s, the functioning of capitalism was deeply transformed, both within countries of the center and in the periphery. The earlier capitalist configuration is often referred to as the “Keynesian compromise.” Without simplifying too much, those years could be characterized, in the center countries—United States (and Canada), Europe, and Japan—by large growth rates, sustained technological change, an increase in purchasing power and the development of a welfare system (concerning, in particular, health and retirement) and low unemployment rates. The situation deteriorated during the 1970s, as the world economy, in the wake of the decline of the profit rate, entered a “structural crisis.” Its main aspects were diminished growth rates, a wave of unemployment, and cumulative inflation. This is when the new social order, neoliberalism, emerged, first within the countries of the center—beginning with the United Kingdom and the United States—and then gradually exported to the periphery. We explore below the nature of neoliberalism and its balance sheet after nearly a quarter of a century. Neoliberalism is often described as the ideology of the market and private interests as opposed to state intervention. Although it is true that neoliberalism conveys an ideology and a propaganda of its own, it is fundamentally a new social order in which the power and income of the upper fractions of ruling classes—the wealthiest persons—was reestablished in the wake of a set back. Although the conditions which accounted for the structural crisis were gradually superseded, most of the world economy remained plagued by slow growth and unemployment, and inequality increased tremendously. This was the cost of a successful restoration of the income and wealth of the wealthiest

A Just World Under Law: A View From the South by BS Chimni

This is an important work - very much worth reading. Here are two quotes from it.: "Transnational capital sees a borderless world economy as its field of operation leading to the globalization of national production and financial systems. Its third world component plays the role of a junior partner with the crucial task of legitimizing the vision of global capital in its own world. There is also support for this vision in a growing global middle class that hopes to benefit from the ongoing globalization process." ... then he goes on to discuss a number of core concepts which need discussion - "The unified global economic space is being established through a range of international law instruments that include international trade law as embodied in World Trade Organization ("WTO") texts and international monetary law as prescribed by international financial institutions. The key development here is the prescription of minimum uniform global standards. That is to say, irrespective of the sovereign territory on which transnational capital operates it is increasingly governed by the same set of norms or norms that possess family resemblance. For example, every WTO member state has to abide by the norms governing intellectual property rights as embodied in the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights ("TRIPS"). Some states merely get a longer transition period in which to implement them. The examples can easily be multiplied. The emergence of a unified global economic space may also be conceptualized in terms of the growing internationalization of property rights through the medium of international law. Indeed, the phenomenon of internationalization of property rights is crucial to the creation of a unified global economic space. "