Capitalism And Class Power

How do corporations use their instrumental and structural power within markets and states to advance their policy agendas? Capitalism and Class Power examines corporate power through chapters on the U.S. military industrial complex, the rise of billionaire wealth in the U.S., the role of a transnational investment bloc in U.S.–Saudi relations, the rise of global disinformation firms, Canadian imperialism in the English-speaking Caribbean, the power of an EU corporate bloc in Caribbean trade agreements, the relationship between capitalism and poverty in rich capitalist countries, and the relationship between “neoliberalism” and capitalism. Professor Cox concludes the volume with reflections on the importance of corporate power research to achieving systemic change. Contributors are: Melissa Boissiere, Aram Eisenschitz, Jamie A. Gough, Adam D. Hernandez, Tamanisha J. John, Mazaher Koruzhde, Rob Piper and Bryant William Sculos. Ronald W. Cox is Professor of Politics and International Relations at Florida International University. He has published six books on corporate power in the global economy and is editor of the open access online journal Class, Race and Corporate Power.

This book explores how imperialism has been evolving in the neoliberal era, with the aim of providing a systematic and integrative understanding of the inner dynamics and vulnerabilities of the contemporary imperialist system. Asking how it has been possible to sustain an imperialist system that fails to address the problems of unemployment, declining standards of living and globalizing conflicts, the author draws upon theoretical and empirical contributions from the current literature to further recent efforts at re-conceptualizing imperialism under the conditions of neoliberal globalization and advances a critique of the school of transnationalism in global political economy. The author puts forward that contemporary imperialism rests on a triangular structure composed of (a) economic imperialism, which is driven by a neoliberal logic of maximizing monopoly profits at massive societal costs; (b) military imperialism, which is shaped by the neoliberal transformation of the US military-industrial complex with the rise of private armies, the globalization of narcocapitalism, and the weaponization of Islamist terrorism and ethno-religious divides; and (c) cultural imperialism, which is led by the media- and nonprofit-corporate complexes, having weaponized the media and civil society in manufacturing popular consent. The book’s arguments are also extended to the current challenges of imperialism embodied in the rise of the BRICS, post-hegemonic forms of regional cooperation, and global popular resistance. As such, it will appeal to scholars of politics and sociology with interests in globalization, imperialism, capitalism, and global power.

Despite the influence corporations wield over all aspects of everyday life, there has been a remarkable absence of critical inquiry into the social constitution of this power. In analysing the complex relationship between corporate power and the widespread phenomenon of share ownership, this book seeks to map and define the nature of resistance and domination in contemporary capitalism. Drawing on a Marxist-informed framework, this book reconnects the social constitution of corporate power and changing forms of shareholder activism. In contrast to other texts that deal with corporate governance, this study examines a diverse and comprehensive set of themes, from socially responsible investing to labour-led shareholder activism and its limitations. Through this ambitious and critical study, author Susanne Soederberg demonstrates how the corporate governance doctrine represents an inherent feature of neoliberal rule, effectively disembedding and depoliticising relations of domination and resistance from the wider power and paradoxes of capitalism. Examining corporate governance and shareholder activism in a number of different contexts that include the United States and the global South, this important book will be of interest to students and scholars of international political economy, international relations and development studies. It will also be of relevance to a wider range of disciplines including finance, economics, and business and management studies. Winner of the Davidson/Studies in Political Economy Award.

Canada is ruled by an organized minority of the 1%, a class of corporate owners, managers and bankers who amass wealth by controlling the large corporations at the core of the economy. But corporate power also reaches into civil society and politics in many ways that greatly constrain democracy. In Organizing the 1%, William K. Carroll and J.P. Sapinski provide a unique, evidence-based perspective on corporate power in Canada and illustrate the various ways it directs and shapes economic, political and cultural life. A highly accessible introduction to Marxist political economy, Carroll and Sapinski delve into the capitalist economic system at the root of corporate wealth and power and analyze the ways the capitalist class dominates over contemporary Canadian society. The authors illustrate how corporate power perpetuates inequality and injustice. They follow the development of corporate power through Canadian history, from its roots in settler-colonialism and the dispossession of Indigenous peoples from their land, to the concentration of capital into giant corporations in the late nineteenth century. More recently, capitalist globalization and the consolidation of a market-driven neoliberal regime have dramatically enhanced corporate power while exacerbating social and economic inequalities. The result is our current oligarchic order, where power is concentrated in a few corporations that are controlled by the super-wealthy and organized into a cohesive corporate elite. Finally, Carroll and Sapinski offer possibilities for placing corporate power where it actually belongs: in the dustbin of history.

Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is. Liberals and Marxists both think of capital as an ‘economic’ entity that they count in universal units of ‘utils’ or ‘abstract labour’, respectively. But these units are totally fictitious. Nobody has ever been able to observe or measure them, and for a good reason: they don’t exist. Since liberalism and Marxism depend on these non-existing units, their theories hang in suspension. They cannot explain the process that matters most – the accumulation of capital. This book offers a radical alternative. According to the authors, capital is not a narrow economic entity, but a symbolic quantification of power. It has little to do with utility or abstract labour, and it extends far beyond machines and production lines. Capital, the authors claim, represents the organized power of dominant capital groups to reshape – or creorder – their society. Written in simple language, accessible to lay readers and experts alike, the book develops a novel political economy. It takes the reader through the history, assumptions and limitations of mainstream economics and its associated theories of politics. It examines the evolution of Marxist thinking on accumulation and the state. And it articulates an innovative theory of ‘capital as power’ and a new history of the ‘capitalist mode of power’.