297 BQ Capitalism Updates - Capitalism DDI 2008 BQ Jonathan...

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Capitalism DDI 2008 BQ Jonathan Ma Capitalism updates Capitalism updates ...................................................................................................................................................... 1 $JONATHAN’S LINK BABY$ ................................................................................................................................ 3 Environmental domination link ................................................................................................................................ 4 Environmental regulations link ................................................................................................................................ 5 Military spreads capitalism ....................................................................................................................................... 6 Hegemony spreads capitalism ................................................................................................................................... 7 As the global confluence of struggles undermined the capitalist and imperialist capacities of discipline, the economic order that had dominated the globe for almost thirty years, the Golden Age of U.S. hegemony and capitalist growth, began to unravel. The form and substance of the capitalist management of international development for the postwar period were dictated at the conference at Bretton Woods, New Hampshire, in 1944.[8] The Bretton Woods system was based on three fundamental elements. Its first characteristic was the comprehensive economic hegemony of the United States over all the nonsocialist countries. This hegemony was secured through the strategic choice of a liberal development based on relatively free trade and moreover by maintaining gold (of which the United States possessed about one third of the world total) as the guarantee of the power of the dollar. The dollar was "as good as gold." Second, the system demanded the agreement for monetary stabilization between the United States and the other dominant capitalist countries (first Europe then Japan) over the traditional territories of European imperialisms, which had been dominated previously by the British pound and the French franc. Reform in the dominant capitalist countries could thus be financed by a surplus of exports to the United States and guaranteed by the monetary system of the dollar. Finally, Bretton Woods dictated the establishment of a quasi-imperialist relationship of the United States over all the subordinate nonsocialist countries. Economic development within the United States and stabilization and reform in Europe and Japan were all guaranteed by the United States insofar as it accumulated imperialist superprofits through its relationship to the subordinate countries. The system of U.S. monetary hegemony was a fundamentally new arrangement because, whereas the control of previous international monetary systems (notably the British) had been firmly in the hands of private bankers and financiers, Bretton
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This note was uploaded on 02/23/2012 for the course DEBATE 101 taught by Professor None during the Spring '12 term at University of California, Berkeley.

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297 BQ Capitalism Updates - Capitalism DDI 2008 BQ Jonathan...

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