Who’s in control — nation states or global corporations?

06/06/2014 02:53

Source: War in Context

Gary Younge writes: The night in 2002 when Luiz Inácio Lula da Silva won his landslide victory in Brazil’s presidential elections, he warned supporters: “So far, it has been easy. The hard part begins now.” He wasn’t wrong. As head of the leftwing Workers’ party he was elected on a platform of fighting poverty and redistributing wealth. A year earlier, the party had produced a document, Another Brazil is Possible, laying out its electoral programme. In a section entitled “The Necessary Rupture”, it argued: “Regarding the foreign debt, now predominantly private, it will be necessary to denounce the agreement with the IMF, in order to free the economic policy from the restrictions imposed on growth and on the defence of Brazilian commercial interests.”

But on the way to Lula’s inauguration the invisible hand of the market tore up his electoral promises and boxed the country around the ears for its reckless democratic choice. In the three months between his winning and being sworn in, the currency plummeted by 30%, $6bn in hot money left the country, and some agencies gave Brazil the highest debt-risk ratings in the world. “We are in government but not in power,” said Lula’s close aide, Dominican friar Frei Betto. “Power today is global power, the power of the big companies, the power of financial capital.”

The limited ability of national governments to pursue any agenda that has not first been endorsed by international capital and its proxies is no longer simply the cross they have to bear; it is the cross to which we have all been nailed. The nation state is the primary democratic entity that remains. But given the scale of neoliberal globalisation it is clearly no longer up to that task.

“By many measures, corporations are more central players in global affairs than nations,” writes Benjamin Barber in Jihad vs McWorld. “We call them multinational but they are more accurately understood as postnational, transnational or even anti-national. For they abjure the very idea of nations or any other parochialism that limits them in time or space.”

This contradiction is not new. Indeed, it is precisely because it has continued, challenged but virtually unchecked, for more than a generation, that political cynicism has intensified.

“The crisis consists precisely in the fact that the old is dying and the new cannot be born,” argued the Italian Marxist Antonio Gramsci. “In this interregnum a great variety of morbid symptoms appear.”

The recent success of the far right in the European parliamentary elections revealed just how morbid those symptoms have become. [Continue reading...

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