Empire with imperialism

Catholic New Times, Dec 18, 2005

The Globalizing Dynamics of Neo-Liberal Capitalism By James Petras and Henry Veltmeyer, with Luciano Vasapollo and Mauro Casadio. Fernwood Publishing/ZED Books 225 pp., $24.95

Petras and Veltmeyer provide compelling arguments to back their assertion that the global market does not function as efficiently and freely as we would like to believe. The economic principles of supply and demand cannot prevail in a climate where imperialist states impose foreign trade policies designed to dominate overseas markets and protect local ones. In other words "markets do not transcend the state but operate within it".

By examining current imperialist powers such as the United States, Europe and China, the authors weave a mesmerizing account of their grip on power through political, economic and military means. An entire chapter devoted to inter-imperialist rivalry offers the reader insights into Current world conflicts such as the war on Iraq and the instability in the former Soviet states of Turkmenistan, Kazakhstan and Uzbekistan.

Petras and Veltmeyer offer a daunting and fascinating look into the workings of our global economy and the powers which control it. You may never use the words "free" and "market" together in the same sentence again.