Re: PLEASE...

Sun, 3 May 1998 20:19:47 -0400 (EDT)
Andrew Wayne Austin (aaustin@utkux.utcc.utk.edu)

Judy,

What is "samo old"? I have never heard that phrase before.

Andy

On Sun, 3 May 1998, Judi Kessler wrote:

> Dennis - nice, informative, thought-provoking response.
> However it looks like the dialogue is deteriorating into the same old "samo
> old"
> I guess we all can fall back on the "delete" key.
>
> On Sun, 3 May 1998, Andrew Wayne Austin wrote:
>
> > On Sun, 3 May 1998, Dennis R Redmond wrote:
> >
> > > On Sun, 3 May 1998, Judi Kessler wrote:
> > >
> > > > ...Here comes the "euro" - Now is the opportunity to generate some great
> > > > 1998, down-to-earth, concrete, political-economy discussion.
> > >
> > > Well, for starters, it helps to remember that the euro is just the most
> > > obvious and leading-edge symptom of the EU's emergence as a global
> > > superpower (and, conversely, the decline of the US to an ex-hegemon).
> >
> > Ex-hegemon in what sense? The sense that we have shifted from imperialism
> > and neoimperialist domination to hegemonic domination via polyarchy is
> > really only a change in formal tactic. But there is a deeper implication.
> > US machinery is the weapon for global capitalism, America coming to play
> > this role with the Americanization of the world economy, or put otherwise
> > the globalization of Americanism (major facet of the dialectic of current
> > world-history). In this sense the US has not declined at all but has
> > increased its hegemonic power, through the spread of culture-ideology,
> > particular economic structurings and political model of elite rule. The
> > sphere of influence of the Americanized global bourgeoisie is being
> > totalized as capital is becoming deterritorialized. Americanism is an
> > organic phenomenon. The nation-state is the face on capital, and to the
> > extent that capital eclipses its own front by transnationalization then
> > one may speak of the US hegemon declining. But to speak of other such
> > fronts eclipsing the US hegemon is to miss this central issue. A
> > restatement of the problem is in order.
> >
> > Andy
> >
> > > Whether the thing succeeds or fails, one thing should be
> > > obvious: the EU countries and their satellites comprise
> > > roughly a quarter of the world economy, and are largely self-financing and
> > > self-supporting in trade, finance, industry and what have you. The EU is a
> > > net global creditor, along with Japan; America is the world's biggest
> > > debtor. But the US dollar is still the world reserve currency; meaning,
> > > the debtor still has some leeway over the creditor (we could inflate away
> > > the value of our currency). The euro is all about taking away this
> > > last of our Imperial privileges, and providing the financial sinews for
> > > the further development of the Eurostate.
> > >
> > > The euro in its present form may well fail, i.e. Spain and Italy may drop
> > > out of the common currency, leaving instead a mini-euro comprised of the
> > > Benelux countries, the Netherlands, France, Germany, Austria, Ireland and
> > > Finland. But the drive towards economic integration and the rise of EU
> > > multinationals in the face of stiff US competition is going to continue.
> > > The politics of the EU are the politics of integration, so Left
> > > alternatives to the current global market mayhem have to deal with this
> > > seriously. For one thing, who gets to run the European Central Bank? The
> > > Maastricht treaty says, a coven of bankers, with no oversight from any
> > > elected body or parliament (even more undemocratic than the US Federal
> > > Reserve, if such a thing were possible). And if the euro arrives, it'll
> > > bring a common banking and financial system in its wake. How are countries
> > > like Italy and Spain going to compete head-on with German firms without
> > > some serious EU-wide subsidies? Instead of kowtowing to the demolition
> > > of the national welfare state, why can't the Euroleft call for a truly
> > > European-wide expansion of the welfare state, plus emergency programs for
> > > jobs and ecological reconstruction, to be financed by soaking the numerous
> > > Eurorich?
> > >
> > > -- Dennis
> > >
> > >
> >
> >
>
> ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
> Judi A. Kessler
> University of California, Santa Barbara
> Department of Sociology
> Santa Barbara, California 93106
> (805) 893-3751
> fax (805) 893-3324
>
> ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
>
>