Global finance has escaped the collective control of advanced capitalist states.
Evidence
Awash with liquidity, and perturbed by an indebtedness that has spiralled out of control since 1973, the world’s financial system has, however, eluded any collective control on the part of even the most powerful advanced capitalist states. — David Harvey, The Condition of Postmodernity, 985
Categorization
- XREF: Connects to the familiar narrative of 1970s stagflation and the breakdown of postwar managed capitalism. — connects to: Advanced capital has globalized beyond the nation-state’s control — Aijaz Ahmad, In Theory: Nations, Classes, Literatures, 590; In late capitalism capital has expanded beyond the nation-state, leaving it archaic — Fredric Jameson, Postmodernism, or, The Cultural Logic…, 882; Global interdependence weakened national economic control and Keynesian policy — Anthony Giddens, The Consequences of Modernity, 188 (+2 more)
Broader Connections
- Advanced capital has globalized beyond the nation-state’s control
#corroborates(1.00) — Aijaz Ahmad, In Theory, 590 - In late capitalism capital has expanded beyond the nation-state, leaving it archaic
#corroborates(0.92) — Fredric Jameson, Postmodernism, or, The Cultural Logic…, 882 - Global interdependence weakened national economic control and Keynesian policy
#corroborates(0.85) — Anthony Giddens, The Consequences of Modernity, 188