New book by Professors Leo Panitch and Sam Gindin: The Making of Global Capitalism argues that 'globalisation' has not diminished the power of states and neither are we witnessing a decline in US power and a return to inter-state rivalry.
On the contrary, Panitch and Gindin argue, the unique power and capacities of the US state have been essential to constituting and managing a truly global capitalist system, and to the extent that other states participate in this system, they remain firmly under US hegemony. [read more...]