Underground Empire: How America weaponized the world economy
My discussion with the authors of this book at the LSE
Whereas I think of the international financial system as operating in the stratosphere - remote from oversight by democratic institutions, Henry Farrell and Abe Newman understand it more as America’s “underground empire…a relentless machine of domination, the product of decades of careful engineering.” They flew into London this week, and I was chuffed to be invited to discuss their important book with them at the LSE. They are both professors, Henry Farrell at John Hopkins University and Abraham L Newman at Georgetown University. Joining me on the panel was Professor Leslie Vinjamuri of Chatham House and SOAS. The event was hosted by Dr Nikhil Kalyanpur of the Department for International Relations - whom I would like to thank for a truly stimulating discussion.
A reformed WTO (with teeth) -- hear, hear to that. Glad you were there.
Not being an economist and not having read the book I may be missing something but isn't this essentially the same thing that's always been happening - advanced economies using their superior position to further bolster their power and wealth at the expense of poorer economies? I was also a little disturbed by the authors' assertion that benefits of globalisation were essentially something to be protected rather than viewed as the transitory spike of a failed experiment. The power politics seemed to be discussed in a vacuum and I heard nothing that related to the poly crisis that is in play apart from Ann's comment on the global south. We apparently have all the time in the world to develop a more even balance in these economic networks.