Envisaging global balance-sheet capitalism: The Bank for International Settlements as a collective organic intellectual

2021 ◽  
pp. 030981682110576
Author(s):  
Jack Foster
Keyword(s):  
Balance Sheet ◽  
Political Stability ◽  
Global Capitalism ◽  
Financial Globalization ◽  
Economic Management ◽  
Current Period ◽  
Policy Frameworks ◽  
Bank For International Settlements ◽  
Organic Intellectual ◽  
Political Economic

This article examines how the Bank for International Settlements, as a collective organic intellectual of finance capital, has sought to maintain the hegemony of financial globalization in the context of an increasingly fractured global order following the 2007–2009 financial crisis. I show how the Bank for International Settlements’ defence of financial globalization has pivoted around the construction of a new ‘economic imaginary’ of global capitalism in which the global financial cycle, which culminates in systemic financial crises, threatens economic and political stability. Asserting that this cycle can be ‘properly managed’, the Bank for International Settlements has advocated a set of formal shifts in macro-policy frameworks. Focusing on the temporality of economic governance as envisioned by the Bank for International Settlements, I highlight two important dimensions of the organization’s discourse: the reduction of policy to process and the fetishization of policy innovation. Here, the pursuit of principles of ‘good’ economic management is prioritized over the achievement of concrete economic or social outcomes. In traversing this economic imaginary, this article offers insights into how global capitalism and its management are envisioned by elites in the current period of hegemonic disorganization and political-economic turmoil.

Trafficking

2018 ◽  
pp. 344-358
Author(s):  
Paul Amar
Keyword(s):  
Human Trafficking ◽  
Sex Trafficking ◽  
Global Scale ◽  
Global Capitalism ◽  
First Century ◽  
Global Studies ◽  
Global History ◽  
Early Nineteenth Century ◽  
Political Economic ◽  
Forms Of Violence

This chapter offers a global history, as well as cultural, legal, and political–economic analysis, of “trafficking,” a set of relationships and processes often constituted as the dark mirror of globalization. First, the chapter traces how the term “trafficking” emerged. Second, it examines the evolution of “trafficking” in the context of “drug wars,” from the imperial Opium Wars in China in the early nineteenth century to the twenty-first-century “narco” battlegrounds of Mexico. Third, it surveys how global studies-related research has developed critical lenses for analyzing the politics of “sex trafficking” and “human trafficking.” Finally, it examines the term “trafficker” as selectively deployed along racial and social lines in ways that produce obscuring pseudo-analyses of the violence of global capitalism that preserve the impunity of certain powerful actors, create monstrous misrepresentations of globalizing forms of violence, and stir moral and racial panics on a global scale.

scholarly journals Enhancing governance for environmental sustainability in sub-Saharan Africa

2020 ◽  
pp. 014459871990065 ◽  
Author(s):  
Simplice A Asongu ◽  
Nicholas M Odhiambo
Keyword(s):  
Environmental Sustainability ◽  
Generalized Method Of Moments ◽  
Political Stability ◽  
Sub Saharan Africa ◽  
Economic Governance ◽  
Institutional Governance ◽  
Government Effectiveness ◽  
Sub Saharan ◽  
Political Economic ◽  
Political Governance

This study assesses whether improving governance standards affects environmental quality in 44 countries in sub-Saharan Africa for the period 2000–2012. The empirical evidence is based on generalized method of moments. Bundled and unbundled governance dynamics are used, notably: (i) political governance (consisting of political stability and “voice and accountability”); (ii) economic governance (entailing government effectiveness and regulation quality), (iii) institutional governance (represented by the rule of law and corruption-control); and (iv) general governance (encompassing political, economic, and institutional governance dynamics). The following hypotheses are tested: (i) Hypothesis 1 ( improving political governance is negatively related to carbon dioxide (CO2) emissions); (ii) Hypothesis 2 ( increasing economic governance is negatively related to CO2 emissions); and (iii) Hypothesis 3 ( enhancing institutional governance is negatively related to CO2 emissions). Results of the tested hypotheses show that the validity of Hypothesis 3 cannot be determined based on the results; Hypothesis 2 is not valid, while Hypothesis 1 is partially not valid. The main policy implication is that governance standards need to be further improved in order for government quality to generate the expected unfavorable effects on CO2 emissions.

Gender, Labor, and Emotion in a Global Economy

2017 ◽  
Author(s):  
Alexia Bloch
Keyword(s):  
Soviet Union ◽  
Former Soviet Union ◽  
Women Entrepreneurs ◽  
Global Economy ◽  
Global Capitalism ◽  
Emotion Work ◽  
Small Scale ◽  
Affective States ◽  
Political Economic

This chapter considers how shuttle traders, or small-scale entrepreneurs in the wholesale garment business, move merchandise from Turkey to locations across the former Soviet Union and are part of a broader transformation of intimate practices and affective states brought about by gendered mobility in the region. Featuring the accounts of three women entrepreneurs from Russia, the chapter reflects on how particular political-economic formations generate their own distinctive affective states. The chapter considers the emotion work required of women as men contend with shame about no longer being primary breadwinners, and as women widely reflect on their shame associated with becoming traders. Overall, the chapter analyzes how ideals around gender and labor are renegotiated as global capitalism encompasses former socialists.

Economic and Political Hybridity: Patrimonial Capitalism in the Post-Soviet Sphere

2013 ◽  
Vol 4 (2) ◽  
pp. 136-145 ◽  
Author(s):  
Neil Robinson
Keyword(s):  
Negative Affect ◽  
Political Stability ◽  
Political Economic ◽  
The Relationship

Hybridity in non-democratic states can be economic as well as political. Economic hybridity is produced by the same kind of pressures that create political hybridity, but the relationship between economic and political hybridity has not been as much studied by political scientists. This article uses the concept of patrimonial capitalism to look at economic hybridity, its stability and relationship to political hybridity. Using examples from Russia and other former Soviet states it argues that economic hybridity is unstable and that it has a potentially negative affect on political stability generally.

scholarly journals Do sertão ao cerrado: trajetórias do território e do sertanejo goiano

2017 ◽  
Vol 11 (2) ◽  
pp. 156
Author(s):  
Júlio César Pereira Borges
Keyword(s):  
El Paso ◽  
Global Capitalism ◽  
Way Of Life ◽  
Cultural Elements ◽  
Brazilian Savannah ◽  
Bibliographical Survey ◽  
America Latina ◽  
Political Economic ◽  
The Way

ResumoCom base na refuncionalização territorial de Goiás, este artigo busca analisar a inserção desse estado na lógica da expansão capitalista na América Latina e no Brasil, enfatizando como a vida sertaneja local é transformada pela ação do capital, responsável pela passagem de Goiás do sertão para Goiás do cerrado. É nessa perspectiva que está pautado este estudo, ou seja, no entendimento da interação dos elementos políticos, econômicos e culturais que se processam na inserção de Goiás na lógica da expansão capitalista e como essa situação ressoa na vida do sertanejo goiano. Para isso, realizou-se uma análise bibliográfica sobre a leitura geográfica do cerrado, acompanhada de entrevistas com pesquisadores do assunto. Tais ferramentas nos possibilitaram entender a incorporação do cerrado na dinâmica do capitalismo mundial e sua reverberação na (re)existência do sertanejo goiano.Palavras-chave: Expansão Capitalista; Cerrado Brasileiro; Território Goiano; (Re)Existência Sertaneja. AbstractBy introducing a debate grounded on the territorial refunctionalization of Goiás state, this article addresses the inclusion of Goiás within the logic of capitalist expansion in Brazil and in Latin America. Moreover, it stresses the way the sertanejo way of life is transformed by the role of capital, which is responsible for the transition from hinterland to savannah in Goiás. The present research stems from understanding the interaction between political, economic, and cultural elements processed in the inclusion of Goiás within the logic of capitalist expansion in Brazil, as well as the way this scenario resonates in the life of the state’s hinterland. To achieve that, this paper brings forth a bibliographical survey of geographical research on the state’s savannah, as well as interviews with researchers. These tools made it possible to understand the savannah’s incorporation into the dynamics of global capitalism and its reverberation in Goiás’ hinterland (re)existence.Keywords: Capitalist Expansion; Brazilian Savannah; Goiás’ Territory; Hinterland (Re)Existence. ResumenCon base en la refuncionalización territorial de Goiás, este artículo analiza la inserción de este estado em la lógica de la expansión del capitalismo en América Latina y en Brasil, enfatizando como la vida sertaneja local es transformada por la acción del capital, responsable po el paso de Goiás del sertão a Goiás del Cerrado. Es en esta perspectiva que está pautado este artículo, o sea, en el entendimiento de la interacción de los elementos políticos, económicos y culturales que se procesan em la inserción de Goiás en la lógica de la expansión capitalista y como esa situación resuena en la vida del sertanejo de Goiás. Por lo tanto, se realizo um análisis bibliográfico sobre la lectura geográfica del Cerrado, acompanhada de entrevistas con investigadores del asunto. Tales herramientas son indispensables para entender la incorporación del Cerrado  em la dinâmica del capitalismo mundial y su reverberación en la (re) existencia del sertanejo goiano.Palabras clave: Expansión capitalista; Cerrado brasileño; Territorio Goiano; (Re) existencia sertaneja. 

scholarly journals Danger Zones Dead Ahead For The U.S. And China: Prospects And Challenges

2013 ◽  
Vol 12 (9) ◽  
pp. 1013
Author(s):  
Linnea B. McCord ◽  
Terry Young ◽  
Peggy J. Crawford
Keyword(s):  
United States ◽  
Political Stability ◽  
The United States ◽  
Danger Zone ◽  
Security Issues ◽  
External Threats ◽  
The People ◽  
Political Economic ◽  
The U.S

To be successful and remain independent, every country must create a prosperous economy, keep peace among its people, maintain political stability, and ensure the security of the people and the country from internal and external threats. Doing all four at the same time is never easy and in a time of economic volatility, change, and uncertainty juggling all four becomes more difficult. This is when countries enter the danger zone where hidden cracks and fissures in a countrys organization and structure could become destabilizing. In this paper we will compare the challenges and prospects for the United States and China as both countries enter the danger zone. The purpose of this paper is to examine how each countrys unique attributes are likely to impact its ability to succeed. We will examine their political, economic and legal systems to determine the strengths and weaknesses of each. We will also assess the role of corruption in each society. Both the United States and China have serious economic, social, political and security issues on the horizon. To solve the problems will require serious sacrifices and pain for a large portion of the populations in both countries. Which form of government will best be able to adapt quickly to the constantly changing environment? Will a serious economic slowdown topple the Communist dictatorship in China? Will gridlock and distrust in the U.S. prevent Americans from adapting fast enough to make the necessary changes in time to save its financial system and economy? Time will tell.

scholarly journals Political Agency: The Subject and the Citizen in the Time of Neoliberal Global Capitalism

2017 ◽  
pp. 1
Author(s):  
Marina Gržinić
Keyword(s):  
Media Studies ◽  
Global Capitalism ◽  
Political Agency ◽  
Significant Shift ◽  
Capitalist World ◽  
The Subject ◽  
Political Economic ◽  
Work First

Today the notion of the ‘subject’ in the first capitalist world is reserved only for the citizens (fully acknowledged) as such of the first capitalist neoliberal world. Therefore the ‘old’ political ‘subjects’ are seen as a form of an archaic subjectivity and delegated to the so-called third worlds’ capitalisms. The consequences are terminal regarding political agency. Or to reformulate this going back to the most significant shift in the historicization of capitalism, the shift from biocapitalism to necrocapitalism (the shift, break and simultaneity of biopolitics and necropolitics and as well biopower and necropower), we see a twofold mechanism at work. First, if necropolitics presents a new mode of governmentality for neoliberal global capitalism that is a decision over the administration of death (as being opposed to biopolitics as a control over life) then we must ask in which concrete, political, economic and social ideological situation the sovereign decision over death without impunity is normalized and accepted. Second, who are those that are ‘selected’ and targeted as the goal of this necro ‘sovereign’ decision? The answers will pull a paradoxical difference inside the notion of the subject and as well respond to why any demand regarding political subjectivities in the time of a neoliberal global capitalism seems a bad joke and something obsolete.Article received: June 5, 2017; Article accepted: June 16, 2017; Published online: October 15, 2017; Original scholarly paperHow to cite this article: Gržinić, Marina. "Political Agency: The Subject and the Citizen in the Time of Neoliberal Global Capitalism." AM Journal of Art and Media Studies 14 (2017): 1-11. doi: 10.25038/am.v0i14.205

Managing ethnic diversity and diversity and directing it to achieve political stability in Malaysia

2020 ◽  
pp. 281
Author(s):  
Ruqaia Kareem Jar Allah
Keyword(s):  
Civil Wars ◽  
Ethnic Differences ◽  
Ethnic Diversity ◽  
Political System ◽  
Political Stability ◽  
Ethnic Conflicts ◽  
Political Crises ◽  
The World ◽  
The Difference ◽  
Political Economic

Malaysia's political system is a pioneering model in providing an appropriate mechanism to accommodate religious and ethnic differences in Malaysia and realistically addresses the economic and social imbalances prevailing in Malaysian society. Malaysia's political leadership has been able to leapfrog and jump over all ethnic problems at all levels (political, economic, and development), at a time when most of the world is unable to contain ethnic differences that threaten internal divisions and ethnic rivalries that sometimes reach To civil wars, and the Malaysians managed to develop their model, which managed the difference with great skill, and benefited from diversity as a state of enrichment and enrichment, not a state of conflict and conflict. Their system was not necessarily ideal but it was successful enough to spare the country political crises, religious and ethnic conflicts, and achieve high development and economic ratios. This model represents the case of impact handling with complexities and variables, without delinquency.

Africa from Post-Colonialism to Multilateralism

2021 ◽  
Vol 20 (1-2) ◽  
pp. 98-110
Author(s):  
Marek Hrubec
Keyword(s):  
Potential Model ◽  
Global Capitalism ◽  
Sub Saharan Africa ◽  
Global Context ◽  
The Social ◽  
Post Colonialism ◽  
Sub Saharan ◽  
Political Economic

Abstract This article deals with a differentiation of the historical phases of African trajectories in the global context from independence to the present day in order to overcome colonialism and global capitalism. It explains how to understand the historical trajectories from post-colonialism to unilateralism, multilateralism, and finally, the potential of polylateralism. It focuses on the problems and tendencies of advancement in Africa, mainly in sub-Saharan Africa, in order to indicate a potential model for the social, political, economic, and cultural arrangement of relations for the recognition of people in Africa in global interactions.

scholarly journals Determinants of FDI in Sub-Saharan African Countries: A Review of the Evidence

2015 ◽  
Vol 5 (2) ◽  
pp. 24 ◽  
Author(s):  
Lateef Ademola Olatunji ◽  
Muhammad Sadiq Shahid
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Political Instability ◽  
Political Stability ◽  
Sub Saharan Africa ◽  
Economic Policies ◽  
Economic Management ◽  
Host Countries ◽  
African Countries ◽  
Sub Saharan

<p>Although it may seem natural to argue that foreign direct investment (FDI) can convey great advantages to host countries. This paper finds that FDI flows to Sub-Saharan Africa economies unaffected by conflict and political instability exceed those with crisis. For FDI to strive in these countries, it must introduce sound economic policies and make the country investor friendly. There must be political stability, sound economic management and well developed infrastructure.</p>

Sign in / Sign up

Export Citation Format

Share Document