Along with a structural economic crisis, caused by a change of the dominant technological order at the present time there is a transition to a new century cycle of capital accumulation, which increases the risk of outbreak of a world war. The previous transition from colonial empires of European countries to U.S. global corporations as the leading form of organization of the global economy occurred by unleashing three world wars, the outcome of which was accompanied by radical changes in the world political system. The First World War brought a collapse of monarchy in three empires, which used to constrain the expansion of national capital. The Second caused a collapse of collonial empires, which limited its international expansion. With the collapse of the USSR due to Third - Cold - World War, free movement of capital has encircled the entire world, and transnational corporations received the entire world economy at their disposal. But the story does not end there. Human development requires new forms of organization of the global economy, which would ensure sustainable development and a reflection of planetary threats, including environmental and space. In conditions of liberal globalization, built for transnational interests, mainly Anglo-American corporations, these challenges to the survival of human kind remain unanswered. - Sergey Glazyev
Posted on: Fri, 14 Nov 2014 05:10:03 +0000