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One World, Ready or Not: The Manic Logic of Global Capitalism

One World, Ready or Not: The Manic Logic of Global Capitalism. Chapter 2 – The New Against the Old. William Greider. Key Issues . Global Revolution -Technology -Geography -Politics Ideology of Capitalism. Technology-Industry Revolution.

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One World, Ready or Not: The Manic Logic of Global Capitalism

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  1. One World, Ready or Not: The Manic Logic of Global Capitalism Chapter 2 – The New Against the Old William Greider

  2. Key Issues • Global Revolution -Technology -Geography -Politics • Ideology of Capitalism

  3. Technology-Industry Revolution • “Economic Revolution always originates with the invention of a new power source…” p27 • Automation • “…A machine that can do the work previously done by human toil but cheaper, faster and more effectively.” p27

  4. Technology-Industry Revolution Continued • Mass Assembly • “Mass assembly imposed dehumanizing clockwork routines, treating workers like moving parts in a larger machine…the unskilled and ill educated could enter took to work at jobs in which they focused on narrow, regularized functions in a complex process they themselves did not have to understand or manage.” p28 • “… new technology is more individualistic and antiegalitarian: it restores a premium for the higher technical skills held by the best-educated people, it demands more sophistication and flexibility, even from many routine jobs.” p28

  5. Technology-Industry Revolution Continued • Ex. The silicon chip • “…it literally liberated computers from their bulky limitations of size and cost and allowed them to become ubiquitous in modern life.” p27 • New technology encourages the Migration of capital p27

  6. Geography-Industry Migration • “Greenfield” - “Production moves to new locations, undeveloped territories where it will be easier (and cheaper) for enterprises to build the new production systems, free of old restraints, like established laws and social commitments, including taxes and wages.”p27 • Pattern - Borrowed technology and investments in “Greenfield.”p28

  7. Migration Examples • Steel industry - EnglandUnited StatesJapanKorea p29 • Center of commerce - VeniceGenoaAmsterdamLondonNew York p30

  8. Where to ? • Multinationals Survey: - China, India, and Brazil p32 • Numbers behind the heady prospects - Double-digit percentage growth, but starts from a very weak base. E.g. China Vs. U.S. Per capita income $490 Vs. $24,750 GNP $580 billion  New York State’s (1993) p32 • Interferences from politics

  9. Politics-Political Deregulation • Escape from the Past p28 • Offshore tax havens • Deregulation of social controls • Decontrol of capital movement • “Harmonization” of Laws p34 • Bayer biotech research in U.S. • European ban on growth hormones in cattle • Persuading the Developing Countries to Adopt New Rules • Protection of property rights p34 • Trade liberalization p35

  10. Politics-Political Deregulation continued • The End of Empire - “As the impact of new technology, capital migration and political deregulation approached full acceleration, the collapse of Soviet communism occurred, perhaps hasted by those forces, and acted like a supercharger in the engine.”p35

  11. Supercharging the Revolution • Revolutionary Forces Accelerated • Collapse of Soviet Union has expanded capitalism’s field of play p35 • Western Europe reduced costs by moving plants eastward • Competition in Future Production • Hungary, Poland, the Czech Republic and others possess skilled and educated workers p35 • Beyond the transition period former Soviet bloc nations will emerge • Russian aircrafts against Boeing and Airbus p36 • Aluminum and steel production

  12. Unforgiving Aspects of New Economy • Little Fish vs. Big Fish -“The emergence of new economic rivals resembles a kind of inverted food chain in which the little fish try to eat the big fish and sometimes succeed.” p31 • The New Become the Enemy of The Old - “… the upstart offspring devour their parents.”p31

  13. Ideology of Capitalism • Capitalism Vs Democracy - “… capitalism that fosters economic prosperity by requiring citizens to forgo such decadent Western luxuries as free speech, free press, free assembly and other liberties.”p36 -Post-Cold War - “concern for human rights… has been pushed aside by commercial opportunity.” p37 -Singapore, Chile, Iran -Fascism- Germany, Japan

  14. Question • Will the global system restart history along the same path that has been created by previous revolutions?

  15. Notes • The Chip • Afterthoughts on Capitalism • World Bank Atlas • Statistical Abstract of the US • World Economic Survey • International Monetary Fund • International Herald Tribune • Social Origins of Dictatorship and Democracy

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