American Imperialism and Eurocapitalism: The Making of Neoliberal Globalization

Abstract

Leo Panitch and Sam Gindin's article on American Imperialism and Euro-Capitalism urges us to conceive of the European model of capitalism in its relation to American neoimperialism. While agreeing that a variety of institutional formations can exist within global capitalism, they contend that state structures cannot be understood autonomously, but must be examined in their relation to each other and, in particular, to global capital. The force of global capital is not external to states, but internal, remaking their social relations and orientation of the domestic bourgeoisie. However, the globalization of capital has, in itself, been brought about by the actions of the US state.