Friday, February 24, 2012
back in the 60s
The US had a chance to take a different course, re globalization, back then.
Multinationals were a relatively a new thing, back then, with notable exceptions.
With the advent of the lower corporate tax,
the MNCs had an open season on everything,
and are now totally out of control.
This was not something unknown to policymakers. Kindleberger, Vernon, etc, at the pinnacle of policy making, were well aware of what forces were now afoot. Marshall Plan, World Bank, IMF, Bretton Woods, etc.
The US had a chance to take a different course, re globalization, back then.
Multinationals were a relatively a new thing, back then, with notable exceptions.
With the advent of the lower corporate tax,
the MNCs had an open season on everything,
and are now totally out of control.
This was not something unknown to policymakers. Kindleberger, Vernon, etc, at the pinnacle of policy making, were well aware of what forces were now afoot. Marshall Plan, World Bank, IMF, Bretton Woods, etc.
Multinationals were a relatively a new thing, back then, with notable exceptions.
With the advent of the lower corporate tax,
the MNCs had an open season on everything,
and are now totally out of control.
This was not something unknown to policymakers. Kindleberger, Vernon, etc, at the pinnacle of policy making, were well aware of what forces were now afoot. Marshall Plan, World Bank, IMF, Bretton Woods, etc.
Tuesday, October 16, 2018
The salient point here is that nation state sovereignty was already, way back in 1971, very much 'at bay'.
"Monday, July 23, 2012
RE POLITICALLY FRAGMENTED MARKET CAPITALISM
'The world is our oyster', 'when in Rome do as the Romans' (Vernon, Sovereignty). These were the watch words of US executives in the 60s. Don't take my word for it. Vernon,Sovereignty At Bay, knew it well. See his passage, on the US' relative political fragmentation, leading to political weakness, as against its own and others' erstwhile national, but by then (1971) multi national, corporations, p 207, 208."
This was very old news, already in 1971, for the insiders of the LIEO, who had planned for this, anticipated it, and looked forward to the eventual end of the nation state and its nation state brand of capitalism.
Kindleberger is the classic example of these theorists.
This was very old news, already in 1971, for the insiders of the LIEO, who had planned for this, anticipated it, and looked forward to the eventual end of the nation state and its nation state brand of capitalism.
Kindleberger is the classic example of these theorists.
Sunday, August 28, 2011
RE EARLIER POST MENTIONING KINDLEBERGER AND VERNON HERE IS SNIPET FROM KOBRIN THE PARDONER'S TALE CHAUCER
Here is Kobrin:
'The dramatic expansion of the Multinational Enterprise (MNE) after 1960 produced a
‘first wave’ of literature in the popular and academic press. The opening lines of Raymond
Vernon’s best known book capture its tenor well: ‘Suddenly, it seems, the sovereign states are
feeling naked. Concepts such as sovereignty and national economic strength appear curiously
drained of meaning’ (Vernon 1971, p 3).
3'
'In a seminal series of lectures two years before the publication of Sovereignty at Bay,
Charles Kindleberger (1969, p 207) argued that the ‘nation-state is just about through as an
economic unit.’ '
They had hoped, back then, for a 'united states of the world', (ANALOGOUS TO STEINGART'S UNITED STATES OF THE WEST, which however now excludes of course the pesky non West)
based on expanding trade investment and political unification,
and thereby the taming of the murderous nation state concept itself, that would make war obsolete.
The nation state was the devil that needed to be exorcized.
(Problem: the US itself is a nation state needing to be exorcised by virtuous Cobdenist multinational enterprise.)
Rather like the Pardoner's Tale, in Chaucer's Canterbury Tales, really.
'The dramatic expansion of the Multinational Enterprise (MNE) after 1960 produced a
‘first wave’ of literature in the popular and academic press. The opening lines of Raymond
Vernon’s best known book capture its tenor well: ‘Suddenly, it seems, the sovereign states are
feeling naked. Concepts such as sovereignty and national economic strength appear curiously
drained of meaning’ (Vernon 1971, p 3).
3'
'In a seminal series of lectures two years before the publication of Sovereignty at Bay,
Charles Kindleberger (1969, p 207) argued that the ‘nation-state is just about through as an
economic unit.’ '
They had hoped, back then, for a 'united states of the world', (ANALOGOUS TO STEINGART'S UNITED STATES OF THE WEST, which however now excludes of course the pesky non West)
based on expanding trade investment and political unification,
and thereby the taming of the murderous nation state concept itself, that would make war obsolete.
The nation state was the devil that needed to be exorcized.
(Problem: the US itself is a nation state needing to be exorcised by virtuous Cobdenist multinational enterprise.)
Rather like the Pardoner's Tale, in Chaucer's Canterbury Tales, really.
Saturday, July 28, 2012
RE RAYMOND VERNON A USEFUL UPDATE POLEMIC
Sovereignty@Bay
https://mgmt.wharton.upenn.edu/files/?whdmsaction=public:main.file&fileID=4002
https://mgmt.wharton.upenn.edu/files/?whdmsaction=public:main.file&fileID=4002
Friday, November 19, 2010
Re Lester Thurow The Future of Capitalism Cold War Blunders Last Clear Chance Rawls' Justice As Fairness Flexible Exchange Rates Again
The 'last clear chance' the US political system had to rationalize and develop the US domestic political/economy was squandered on an ideological mission, utopian in origin, with fleeting strategic underpinnings, to develop the undeveloped non-communist world: hardly an example of, say, Rawls' 'justice as fairness' to average Americans.
Thurow had a nice explanation of this in paper back edition, pages 117-119.
He also talked about flexible exchange rates, (see also re my recent post on Weinman for floating currencies against a gold standard) at page 223:
'Kindleberger was the only economist (in 1971), according to Thurow, who could honestly say, even back then, including Thurow, "I told you so".'
Well, surprise again.
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