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Questions and Answers
What is 'accumulation by dispossession' primarily associated with?
What is 'accumulation by dispossession' primarily associated with?
During which historical period is Arendt's concept of imperialism predominantly discussed?
During which historical period is Arendt's concept of imperialism predominantly discussed?
What was one of the consequences of the geopolitical conflicts in the early 20th century?
What was one of the consequences of the geopolitical conflicts in the early 20th century?
What does the term 'spatio-temporal fixes' refer to in the context of capitalist practices?
What does the term 'spatio-temporal fixes' refer to in the context of capitalist practices?
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What was the primary motivation behind Britain's push into new forms of imperialism during the 19th century?
What was the primary motivation behind Britain's push into new forms of imperialism during the 19th century?
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What was the state of capitalism during the 1930s as noted in the content?
What was the state of capitalism during the 1930s as noted in the content?
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What role did individual nation-states play in the imperialism of the late 19th and early 20th centuries?
What role did individual nation-states play in the imperialism of the late 19th and early 20th centuries?
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How did imperial practices contribute to the economy during the periods of overaccumulation?
How did imperial practices contribute to the economy during the periods of overaccumulation?
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What economic principle is highlighted as a means to reorganize domestic relations of production?
What economic principle is highlighted as a means to reorganize domestic relations of production?
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What role do domestic financial regimes play in relation to external capital?
What role do domestic financial regimes play in relation to external capital?
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Which aspect of global capitalism was emphasized during the Clinton administration?
Which aspect of global capitalism was emphasized during the Clinton administration?
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What was a key feature of global capitalism according to this economic analysis?
What was a key feature of global capitalism according to this economic analysis?
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What consequence arose from the US trade and current account deficits in the 1990s?
What consequence arose from the US trade and current account deficits in the 1990s?
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What does overaccumulation refer to in the context of global economics?
What does overaccumulation refer to in the context of global economics?
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How might the US maintain its economic dominance despite internal and external deficits?
How might the US maintain its economic dominance despite internal and external deficits?
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What reaction has emerged as a result of successive waves of accumulation by dispossession?
What reaction has emerged as a result of successive waves of accumulation by dispossession?
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Which countries have been noted as significant lenders to cover US deficits?
Which countries have been noted as significant lenders to cover US deficits?
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What is indicated as a possible prelude to a shift in global power dynamics?
What is indicated as a possible prelude to a shift in global power dynamics?
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What marked the emergence of transnational capitalist corporations in this context?
What marked the emergence of transnational capitalist corporations in this context?
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What was referenced as the 'Washington Consensus'?
What was referenced as the 'Washington Consensus'?
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What challenge does the volatility of the market create for understanding economic laws?
What challenge does the volatility of the market create for understanding economic laws?
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What is a likely consequence of the United States' imperialism according to the content?
What is a likely consequence of the United States' imperialism according to the content?
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What was the primary reason for the US-led system established in 1945?
What was the primary reason for the US-led system established in 1945?
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What economic condition is predicted if the US loses its financial dominance?
What economic condition is predicted if the US loses its financial dominance?
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Which event showcased European powers' reluctance to disengage from their colonial possessions?
Which event showcased European powers' reluctance to disengage from their colonial possessions?
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Which characteristic of the new imperialism is highlighted in the content?
Which characteristic of the new imperialism is highlighted in the content?
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What major challenge faced the US-led system around 1970?
What major challenge faced the US-led system around 1970?
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What reaction is anticipated from the US population regarding militarized imperialism?
What reaction is anticipated from the US population regarding militarized imperialism?
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What was a result of the US collusion with Saudi Arabia in 1973?
What was a result of the US collusion with Saudi Arabia in 1973?
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How is the traditional conception of class struggle expected to evolve in this context?
How is the traditional conception of class struggle expected to evolve in this context?
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How did finance capital shift the balance of power within the bourgeoisie?
How did finance capital shift the balance of power within the bourgeoisie?
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What is indicated as a potential necessity for the United States in the absence of expanded reproduction?
What is indicated as a potential necessity for the United States in the absence of expanded reproduction?
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What characterized the third phase of bourgeois global rule?
What characterized the third phase of bourgeois global rule?
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What has the pattern of US hegemony shifted away from?
What has the pattern of US hegemony shifted away from?
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What was one consequence of IMF-administered structural adjustment programs?
What was one consequence of IMF-administered structural adjustment programs?
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Which of the following is cited as a consequence of militarized imperialism?
Which of the following is cited as a consequence of militarized imperialism?
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What fueled the need for countries like Japan and West Germany to look outward for markets?
What fueled the need for countries like Japan and West Germany to look outward for markets?
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What does the content imply about the ideological significance of the new imperialism?
What does the content imply about the ideological significance of the new imperialism?
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How did the US deal with the economic threats posed by Germany and Japan?
How did the US deal with the economic threats posed by Germany and Japan?
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What might hinder the US from pursuing a long-term militarized Empire?
What might hinder the US from pursuing a long-term militarized Empire?
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What was a notable feature of the market during the financial dominance of Wall Street?
What was a notable feature of the market during the financial dominance of Wall Street?
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What type of globalization is suggested as a potential alternative to imperialism?
What type of globalization is suggested as a potential alternative to imperialism?
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What is implied about the current global system's transition?
What is implied about the current global system's transition?
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What was the primary goal of third world socialism during its development?
What was the primary goal of third world socialism during its development?
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What is the likely outcome of a flight from the dollar according to the content?
What is the likely outcome of a flight from the dollar according to the content?
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What was the primary cause of inflationary pressures during the Vietnam War?
What was the primary cause of inflationary pressures during the Vietnam War?
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What impact did the crisis of 1997 have on East and South East Asia?
What impact did the crisis of 1997 have on East and South East Asia?
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What has the popular tradition within the US tended to reflect?
What has the popular tradition within the US tended to reflect?
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What was a common consequence of the geographic expansion of capitalism referenced in the content?
What was a common consequence of the geographic expansion of capitalism referenced in the content?
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What does the text suggest the US must do to counter imperialism effectively?
What does the text suggest the US must do to counter imperialism effectively?
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Which economic strategy is mentioned as essential for revitalizing US manufacturing?
Which economic strategy is mentioned as essential for revitalizing US manufacturing?
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What might happen if the US attempts to enforce an austerity program by self-discipline?
What might happen if the US attempts to enforce an austerity program by self-discipline?
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How does the text indicate that East Asian countries are changing their economic dependencies?
How does the text indicate that East Asian countries are changing their economic dependencies?
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What is the concern regarding the US's military intervention in countries like Iraq and Venezuela?
What is the concern regarding the US's military intervention in countries like Iraq and Venezuela?
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What potential consequence does the text highlight regarding reduced financial flow to the US?
What potential consequence does the text highlight regarding reduced financial flow to the US?
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Which group is noted as likely to resist US military actions abroad?
Which group is noted as likely to resist US military actions abroad?
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What does the term ‘spatio-temporal fix’ refer to in the context of economic strategies?
What does the term ‘spatio-temporal fix’ refer to in the context of economic strategies?
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What implication does the idea of a ‘permanent militarization’ have for US hegemony?
What implication does the idea of a ‘permanent militarization’ have for US hegemony?
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What economic model is Europe reportedly leaning towards in contrast to the US?
What economic model is Europe reportedly leaning towards in contrast to the US?
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In what way does the text suggest that capitalist powers might collaborate?
In what way does the text suggest that capitalist powers might collaborate?
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What does the text imply might be required to prevent accumulation stagnation?
What does the text imply might be required to prevent accumulation stagnation?
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What historical example does the text draw on to illustrate US economic strategies?
What historical example does the text draw on to illustrate US economic strategies?
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What characterizes the relationship between the US and Gulf oil suppliers according to the text?
What characterizes the relationship between the US and Gulf oil suppliers according to the text?
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Study Notes
Accumulation by Dispossession
- Accumulation by dispossession occurs through various methods, often contingent and haphazard, but is omnipresent throughout history, particularly during crises of overaccumulation.
- Nineteenth-century Britain's depressions prompted imperialism as a solution to overaccumulation, repeating "the original sin" of robbery.
- This concept links to spatio-temporal fixes, state powers, accumulation by dispossession, and contemporary imperialism.
The "New" Imperialism
- Capitalist formations, often centered, engage in quasi-imperialist practices to resolve overaccumulation problems.
- European-centric imperialism (1884-1945) was the first attempt at global bourgeois rule, initially stable under British hegemony.
- This system fractured into conflicts between powers pursuing autarky, resulting in World Wars, and pillaging resources for compensation.
- The post-1945 US-led system aimed to avoid intra-capitalist wars, focusing on integrated global capitalism and decolonization, largely held together by the Cold War.
US Superimperialism and the Third Phase
- US dominance in the second phase was primarily political and military, not solely economic.
- The US absorbed surplus capacity from other core countries through internal fixes (e.g., infrastructure projects), moderating accumulation by dispossession.
- The system weakened by the 1970s due to rising capital controls' difficulty and inflationary pressures from the Vietnam War.
Financialization and Accumulation by Dispossession (Third Phase cont.)
- The US shifted to a finance-capital-centered system, leveraging Wall Street.
- Systemic global market opening became necessary.
- The 1973 oil crisis strengthened Wall Street by redirecting petrodollars, damaging other economies but boosting US power.
- The third phase saw a more predatory and volatile accumulation by dispossession, often through IMF-imposed structural adjustment programs.
- This approach saw economies raided and assets seized by US finance capital, leading to IMF-driven bankruptcies and impoverishment.
Crisis and Resistance
- The 1997-98 crisis highlighted the East Asian productive capacity, bringing overaccumulation back to the forefront.
- US hegemony faced threats from rising Asian nations.
- Financial volatility, deteriorating US balance of payments, and unsustainable debt spirals challenged the dominant system.
- The US' capacity to exploit and manipulate the dollar became a key factor in maintaining hegemony while others were forced to adapt to austerity measures.
US Imperialism's Current Options
- Limited options exist for the United States:
- Redistribution of wealth domestically.
- Internal spatio-temporal fixes (e.g., infrastructure).
- Industrial revitalization.
- These are challenging as the bourgeoisie is resistant to them.
- Overt militarized empire could face significant resistance, potentially leading to deflationary depression.
- Transition to Asian hegemony might occur with internal market development, potentially diminishing US flows from other countries.
Conclusion
- Continued accumulation by dispossession and financialization are hallmarks of the new imperialism.
- Class struggles are adapting to shifting power dynamics.
- The US hegemony, based primarily on military and financial force, is losing ground and challenged by resistance on a global scale.
- The future form of global power remains uncertain, marked by potential for significant volatility.
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Description
Explore the complex themes of accumulation by dispossession and the evolution of imperialism from the 19th century to the post-1945 era. This quiz delves into how capitalist formations adapt to crises of overaccumulation and the impacts of imperialist practices on global dynamics. Understand historical contexts and theoretical frameworks that shape contemporary discussions on imperialism.
