"Una Teoria Sobre el Capitalismo Global" (William I. Robinson)

Summary

In this in-depth discussion, William Robinson explores the global capitalist system, focusing on its restructuring at the end of the 20th century. He outlines three key responses by the transnational elite to maintain the system amid its deep crisis: militarized accumulation, the plundering of public budgets, and financial speculation. Robinson argues that these mechanisms exacerbate the human and ecological crises, highlighting a growing social polarization and the expansion of a 'redundant' global population. He also discusses the challenges faced by Latin American governments and the need for global economic redistribution and political democratization to address the systemic issues of the 21st century.

Takeaways

• 😀 The 21st century capitalism is radically different from 20th century capitalism, marked by a major restructuring after the 1970s and 1980s crises.
• 😀 Global capitalism has entered a deep structural crisis, with potential for a systemic collapse, particularly highlighted by the 2008 financial crisis.
• 😀 The dominant global elite has responded to the ongoing crisis with three mechanisms: militarized accumulation, looting of public budgets, and financial speculation.
• 😀 Militarized accumulation involves increasing military spending and conflicts (e.g., wars in Iraq and Afghanistan), as well as the militarization of borders, like the Mexico-US border.
• 😀 The plundering of public budgets is facilitated by transferring public wealth to private hands, including through government debt and the sale of national assets.
• 😀 Financial speculation continues to drive the global economy, with an increasing focus on speculative markets such as global food and energy markets, leading to greater instability.
• 😀 There is an unprecedented ecological crisis, with global capitalism failing to adapt sustainably to the environment, surpassing critical ecological thresholds (e.g., climate change, nitrogen cycle, biodiversity).
• 😀 Capitalism has reached its expansion limits, with no new territories or regions to incorporate, and therefore faces an existential crisis due to its need for perpetual growth.
• 😀 A significant social polarization has emerged, with a large portion of the global population excluded from productive participation, creating a ‘redundant population’ that is both unemployed and disenfranchised.
• 😀 The concentration of both violent power (militarization) and media control is creating a dangerous dynamic, where a small group controls vast resources and can suppress dissent, further exacerbating global inequality.

Q & A

What is the main argument of the book discussed in the transcript?

The book argues that global capitalism has undergone a profound restructuring since the 1970s and 1980s, creating a new global system, characterized by a transnational state, new dominant classes, and a growing crisis that threatens humanity.

What are the three main points presented in the book regarding the new global capitalism?

The book presents three key points: 1) The emergence of a new global capitalism with novel features, 2) This global capitalism is in a deep structural crisis, and 3) The transnational elite has responded to this crisis by using military accumulation, public budget looting, and financial speculation.

What does the author mean by 'militarized accumulation'?

'Militarized accumulation' refers to the process of maintaining capitalist accumulation through military conflicts, military spending, and the privatization of security. It involves using war and security measures as a means to sustain global capitalism, even if it exacerbates the crisis.

How has the transnational elite responded to the current crisis according to the book?

The transnational elite has responded to the crisis using three mechanisms: 1) Militarized accumulation, 2) The plundering of public budgets, and 3) Speculation in global financial markets. These responses have only worsened the crisis without offering long-term solutions.

What is meant by the 'plundering of public budgets'?

The 'plundering of public budgets' refers to the transfer of public wealth to private hands, mainly through the issuance of government bonds to transnational investors. This leaves governments in debt, forcing them to extract taxes from the population to repay the bonds.

What role does financial speculation play in the global crisis?

Financial speculation, especially in the housing and food markets, has played a significant role in exacerbating the global economic crisis. Instead of contributing to productive economic activities, speculation has caused volatility in essential markets, like food and energy, which further destabilizes the global economy.

What are the five dimensions of the global crisis that the author highlights?

The five dimensions of the global crisis are: 1) Ecological crisis due to the inability of global capitalism to function sustainably, 2) The limits to capitalist expansion, 3) The concentration of violence and media control in the hands of a few, 4) Intense social polarization and the rise of a redundant, unemployed global population, and 5) The disconnect between globalized economies and national political authorities.

What does the author mean by the 'redundant population'?

The 'redundant population' refers to a significant portion of the global population that has been expelled from productive economic activity. This group, representing roughly a third of humanity, is unable to participate meaningfully in the economy or society, leading to increased social unrest.

Why does the author argue that a global political authority is necessary?

The author argues that a global political authority is necessary because the global economy has become so interconnected that no single nation-state can effectively manage its affairs or respond to the crisis. A transnational political system is needed to address the contradictions and ensure a fair redistribution of resources.

How does the book view the role of Latin American governments in the context of global capitalism?

Latin American governments, particularly in South America, have attempted to mitigate the effects of global capitalism by redistributing resources, often using natural resources and public budgets. However, the author points out that these measures are not sustainable in the long term due to ecological limitations, and broader global reforms are needed.