The capitalist conjuncture: Over-accumulation, financial crises, and the retreat from globalisation

Third World Quarterly

Volumn 27, Issue 8, 2006, Pages 1345-1367

  Bello, Walden ^a  

^a NONE   (Thailand)

Author keywords

[No Author keywords available]

Indexed keywords

CAPITALISM; DEVELOPING WORLD; FINANCIAL CRISIS; GLOBAL ECONOMY; GLOBALIZATION; IMF; WORLD BANK;

NORTH AMERICA; UNITED STATES;

EID: 33845563931     PISSN: 01436597     EISSN: 13602241     Source Type: Journal    
DOI: 10.1080/01436590601027222     Document Type: Article

References (64)

1. Sebastian Mallaby, 'Why globalization has stalled', Washington Post, 24 April 2006.
2. Ibid.
3. Walden Bello, Dilemmas of Domination: The Unmaking of the American Empire, New York: Metropolitan Books, 2005.
4. Immanuel Wallerstein, After Liberalism, New York: New Press, 1996, p 28.
5. Quoted in Jose Antonio Ocampo, 'Latin America and the world economy in the long twentieth century', in KS Jomo (ed), The Great Divergence: Hegemony, Uneven Development, and Global Inequality, New York: Oxford University Press, 2006, p 79.
6. Ibid.
7. Angus Maddison, cited in James Crotty, 'Why there is chronic excess capacity', Challenge, November-December 2002, p 25.
8. Ibid.
9. Philip Anthony O'Hara, 'The contradictory dynamics of globalization', in BN Ghosh & Halil M Guven (eds), Globalization and the Third World, Basingstoke: Palgrave Macmillan, 2006, p 27.
10. Ibid, p 26.
11. Ibid, p 145.
12. See Robert Brenner, The Boom and the Bubble, New York: Verso, 2002, pp 127-133.
13. Stephen Gill, Power and Resistance in the New World Order, Basingstoke: Palgrave Macmillan, 2003, p 120.
14. Ibid.
15. Ibid, pp 131-135.
16. Alex Berenson, 'The other legacy of Enron', New York Times, 29 May 2006, p 4.4.
17. Raghuram Rajan, 'Global imbalances: An assessment', International Monetary Fund, Washington, DC, October 2005, at http://www.imf.org/ external/np/speeches/2005/102505.
18. Brenner, The Boom and the Bubble, p 192.
19. Robert Brenner, 'Towards the precipice', London Review of Books, 6 February 2003, p 20.
20. Jacques Chai Chomthongdi, 'The IMF's Asian legacy', in Prague 2000: Why We Need to Decommission the IMF and the World Bank, Bangkok: Focus on the Global South, 2000, pp 18, 22.
21. Barry Rubin & Jacob Weisberg, In an Uncertain World, New York: Random House, 2003, p 296.
22. See Paul Hirst & Grahame Thompson, Globalization in Question, Cambridge: Polity Press, 1996.
23. David Held & Anthony McGrew, Globalization and Anti-Globalization, Cambridge: Polity Press, 2002, p 40.
24. Dennis De Tray, Comments at luncheon sponsored by the Carnegie Endowment for International Peace, Washington, DC, 21 April 2006.
25. Ngaire Woods, 'The globalizers in search of a future: Four reasons why the IMF and World Bank must change and four ways they can', CGD (Center for Global Development) Brief, April 2006, p 2.
26. AH Meltzer, 'International financial institutions reform: Report of the International Financial Institutions Advisory Commission', Report to US Congress, Washington, DC, March 2000.
27. The description is that of Mike Moore.
28. Mallaby, 'Why globalization has stalled'.
29. Ho-fung Hung, 'Rise of China and the global overaccumulation crisis', paper presented at the Global Division of the Annual Meeting of the Society for the Study of Social Problems, 10-12 August 2006, Montreal.
30. Rajan, 'Global imbalances'.
31. 'Chief named for troubled GM unit', New York Times, 31 May 2006, C1.
32. Crotty, 'Why there is chronic excess capacity', p 24.
33. US Mission to the European Union, 'OECD nations pledge reduction in global steel capacity', 8 February 2002, at http://www.useu.be/ Categories/Trade/Feb0802SteelReductionsOECD.html.
34. A Gary Shilling, De.ation, Short Hills, NJ: Lakeview, 1998, p 177.
35. The Economist, 20 February 1999, p 15.
36. Brenner, 'Towards the precipice', p 20.
37. Ibid, p 21.
38. 'Riding China's coattails', Business Week, p 50.
39. 'China the locomotive', Straits Times, 23 February 2004, p 12.
40. Rajan, 'Global imbalances'.
41. United Nations, World Investment Report 2003, New York: United Nations, 2003, p 45.
42. 'Burying the competition', Far Eastern Economic Review, 17 October 2002, p 30.
43. Ho-fung Hung, 'Rise of China and the global overaccumulation crisis'.
44. Ibid.
45. Ibid.
46. Ibid.
47. Ibid.
48. Ibid.
49. Rajan, 'Global imbalances'.
50. Ibid.
51. Ibid.
52. Ibid.
53. Philip Anthony O'Hara, 'Recent changes to the IMF, WTO, and SPD: emerging global mode of regulation in social structures of accumulation for long wave upswing?', Review of International Political Economy, 10 (3), 2003, p 496.
54. See David Harvey, 'The new imperialism: Accumulation by dispossession', in Leo Panitch & Colin Leys, The New Imperial Challenge (Socialist Register, 2003), New York: Monthly Review Press, 2003, pp 1-42.
55. Ibid.
56. One of the best analyses of the hard capitalist interests that are the 'mass base' of the Bush regime is Antonias Juhasz, The Bush Agenda: Invading the World, One Economy at a Time, New York: HarperCollins, 2006.
57. See Ellen Meiksins Wood, The Empire of Capital, New Delhi: LeftWord Books, 2003, p 145.
58. 'Zoellick says FTA candidates must support US foreign policy', Inside US Trade, 16 May 2003. This article summarizes an 8 May 2003 speech by Zoellick.
59. For the sharpening conflicts between the US Treasury Department and IMF officials over US unilateralist moves, see Nicola Bullard, 'The puppet master shows his hand', Focus on Trade, April 2002, at http://focusweb.prg/popups/articleswindow.php?id=41.
60. Nancy Alexander, 'The US on the world stage: Reshaping development, finance, and trade initiatives', Citizens' Network on Essential Services, Washington, DC, October 2002.
61. See, among other accounts, Bello, Dilemmas of Domination, pp 170-173.
62. Susanne Soederberg, 'American empire and 'excluded states': The Millenium Challenge Account and the shift to pre-emptive development', Third World Quarterly, 25 (2), 2004, p 295.
63. Quoted in ibid.
64. Ibid.