A Critical Rewriting of Global Political Economy: by V. Spike Peterson

By V. Spike Peterson

This booklet rewrites worldwide political economic climate by means of bringing disparate positive aspects of globalization into relation and offering an obtainable narrative of "how we obtained here," "what's going on," and "what it skill" from a serious vantage element.

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Struggles against ethnic/race hatred continue within some countries but are less visible at the global level. Moreover, the demonization of ethnic and racialized groups appears to be increasing, for example in anti-Islamic and anti-immigrant Context and objectives 11 movements. Mazrui (1994) notes increasing expressions of overt racism in the north and wonders whether the end of the Cold War ushered in "pan-Caucasianism" and a new phase of global racism. Nation-state hierarchies Hierarchies among nations reflect international divisions of labor flowing from colonialism and the north's continued domination of wealth, advanced technologies, decision-making power, and "rule setting" in the old and new world order.

Chapter 6 offers less of a "conclusion" than further development of the shift from "commodity money" (associated with the real economy of goods and services) to "credit money" (associated with the phenomenal growth in deregulated transnational financial markets). The key issue here is how virtual/credit money is simultaneously decoupled from capital investments and production processes of the real economy and at the same time determines the price/value of money, which has effects throughout the system.

Gill and Mittelman 1997). 5 The transition from modernity to postmodernity — like the transition to modernity — is less a definitive "break" than a perceptible transformation involving large-scale or structural changes. Moreover, the unevenness of effects means that the transition itself varies, and occurs at different paces in different places, or in some places hardly at all. I identify globalization with postmodernity not to reify yet another dichotomy, or make a definitional claim about historical discontinuities, but to opt for what I consider a productive analytical strategy.

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