Lecture 11 POLS2402 (Dark side of globalization)

Lecture 11 POLS2402 - POLS2402 19 October 2011 Dark side of globalization Neoliberal globalization is a distinctive phase of capitalist development

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POLS2402 19 October 2011 Dark side of globalization Neoliberal globalization is a distinctive phase of capitalist development. . But is it a ‘crisis phase’ of capitalism? evidence: slow growth since 1970s also: ‘structural change’ (manufacturing decline) ‘financialization’ stock exchange criteria for industry (disregard for production) Is it a coherent ‘regime of accumulation’, ‘mode of growth’ Is economic globalization feasible after the ‘end of scarcity’? Guide to what will happen – what happened in 1930s – what happened after 1945 (keynesian revolution was aborted) (the boom never exhausted itself but neither did it reach full potential, especially concerning ROW, and FE guarantees) official hostility)
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Kahn & Kellner on ‘resistance to globalization’ (also see ‘Global capitalism troubled’ - ch.20 in Frieden) there’s no one thing to resist or protest about – against marketization, re-commodification against global corporations (corporate prerogatives, corporate culture, corporate excesses, undemocratic global restructuring of capital, obnoxious managerial practices) against destruction of cultures, environments, traditions, protections, against McDonaldization (the ‘globalization of nothing’) against some forms of standardization, against non-standard forms of work but also against reactionary fundamentalisms, xenophobic politics, religious extremism, for ‘global justice’, for ‘global civil society’ (global citizenship entitlements), for ‘positive forms of globalization’ (secularism, new media), for ‘counter-movements’, for counter-hegemonic movements, for ‘no logo’ (diversity, ambiguity  World Social Forum) “avoid globophobia and globophilia ”? [e.g. avoid binaries: the lexus and the olive tree]
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The problem for capitalist polities : what new industries/ activities are likely to emerge to provide employment in the future? what new investment? what new consumption patterns? what new employment? what new ‘mode of growth’/ ‘regime of accumulation’? what new political settlements/ commitments? Problem: existing excess capacity, over-accumulation, saturation of markets, dearth of profitable I outlets in nearly all sectors plus: low growth, low productivity increases for 3-4 decades plus: elite indifference to unemployment, inequality, activist states, new political institutions One answer: long-term decline, eclipse of the west, rise of China (with different political priorities), accompanied by ineffective ‘liberal’ policymaking, occasional societal discontent/ protest. ..
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another answer, another conceptual problematic: The theory of transformational growth ( a combination of marxism and keynesianism)
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This note was uploaded on 02/16/2012 for the course POLS 2402 taught by Professor Dow during the Three '11 term at Queensland.

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Lecture 11 POLS2402 - POLS2402 19 October 2011 Dark side of globalization Neoliberal globalization is a distinctive phase of capitalist development

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