The Force Behind the New World Order
The United States is a formidable political and economic force in the emerging world of globalization. What led to its position of power?
While most of his contemporaries claim that nation states are losing power amidst globalization, Distinguished Research Professor Leo Panitch believes these states are actually key to making globalization happen, and the role of the United States is especially important. As newly appointed Chair in Comparative Political Economy, he is committed to increasing understanding about the evolving relationship between finance, production and empire in global capitalism. He will advance theoretical and empirical knowledge that demonstrates how the United States has shaped, and now bears the main responsibility in trying to manage, the global capitalist economy, and as it does so, how it contributes to the restructuring of other states.
He is thoroughly examining the role that American politics and economics played in advancing the new capitalist world order at the end of the 20th century; a role based on, but quite different from, its role following World War II and distinct from the role that former imperial states have historically played. To understand this transformation, Professor Panitch's empirical and theoretical investigations will analyze: the shifting balance of social forces within the United States; and the changing economic and political relations among leading capitalist countries and between these countries and 'third-world' nations.
One major thrust will study the leading role of the US Treasury and Federal Reserve in coordinating and managing liberalization, in conjunction with the international financial institutions, central banks and finance departments of other countries. A second focus will examine the auto sector, one of the greatest contributors to global restructuring in manufacturing, to understand the extent to which new technology has helped to revitalize the American economy and establish its leadership position.
Professor Panitch will publish his results in a series of books, scholarly articles, and edited volumes devoted to this issue.