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Capital, class and the state in the global political economy Export

Globalizations, Vol. 2, No. 1. (May 2005), pp. 47-60.

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capitalism class globalisation

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The tension between state logic and capital logic plays out in the contemporary world in terms of coerced appropriation mediated through global state economic governance institutions. These include the World Trade Organization and the International Monetary Fund which are under the guidance of liberal institutionalist regime builders following an expansionist capital logic. At the same time as they take a leading role in such rule setting, the American elite deploy military force as an imperial state actor. This paper explores how these strategies both engender cooperation and resistance on the part of local elites who both bend imposed neoliberal norms to their own benefit and organize to bargain as regional actors against the world’s hyperpower.


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