Perhaps no word today is used and misused more than globalization. It generally serves to refer to worldwide epoch-defining changes in the organization of societies, economies and politics. But as Petras and Veltmeyer demonstrate, the term globalization obscures much more than it reveals. In practice, globalization provides a cover for a new form of imperialist exploitation and the institution of US hegemony over a global process of capital accumulation. In the last decade, capitalists in Europe and the United States have created favourable conditions for the takeover and recolonization of economies across the developing world. International capital has managed to restore highly profitable returns on investments and operations as never before, creating islands of opulent prosperity within a sea of growing poverty and misery. In effect,this book argues that the terms globalization and imperialism are widely used as alternative frameworks for understanding the dynamics of the same worldwide developments and trends. Employing an imperialist analytical framework over that of globalization not only provides a better understanding but also points towards forces of resistance and opposition that through political action may bring about necessary change.
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About the Author
James Petras is former Professor of Sociology at Binghamton University, New York.
Henry Veltmeyer is Professor of Sociology and International Studies at Saint Mary's University, Halifax, Nova Scotia.
Table of Contents
Contents Introduction 1. Globalization or Imperialism? 2. Globalization: A Critical Analysis 3. Globalization as Ideology 4. Capitalism at the End of the Millennium 5. The Labyrinth of Privatization 6. Democracy and Capitalism: An Uneasy Relationship 7. Cooperation for Development 8. NGOs in the Service of Imperialism 9. US Empire and Narco - Capitalism 10. The Politics of US Hegemony: Right-wing Strategy in Practice 11. Socialism in an Age of Imperialism