Surviving Capitalism (Not) : America Is Losing Its Imperial Status, And Global Institutions Such As The IMF, G20 And BIS Are Filling The Void

We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Tuesday, April 27, 2010

America Is Losing Its Imperial Status, And Global Institutions Such As The IMF, G20 And BIS Are Filling The Void

from Washington's Blog. The author's otherwise excellent vision fails to distinguish between form and substance. His thesis is that the IMF may "in some ways - replace the U.S." [as the ruling imperial power]

What I believe is happening is that the ruling class in the US Empire has to a considerable degree become globalized by absorbing capitalists from many other countries. The result is an international capitalist ruling class that is beholden to no single nation (colony). The IMF is only one organization through which it rules. There are many others.

I still refer to it as the "US Empire" because I believe that it is still largely dominated by US based capitalists--certainly its dictates are enforced mostly by US armed forces and its origins were in the US.