![]() ![]() However, it is far from certain that social justice advocates who want to encourage a more democratic approach to world affairs and global economic well-being will be able to sway a new administration. There is little question that the majority of people on the planet - those who suffered under both the corporate globalization of the Clinton years and the imperial globalization of George W. Rejecting neoconservative unilateralism, they want to see a renewed focus on American “soft power” and its instruments of economic control, such as the World Bank, International Monetary Fund (IMF), and World Trade Organization (WTO) - the multilateral institutions that formed what was known in international policy circles as “the Washington Consensus.” These corporate globalists are making a bid to control the direction of economic policy under a new Democratic administration. Many business leaders have fond memories of the “free trade” years of the Clinton administration, when CEO salaries soared and the global influence of multinational corporations surged. They are now engaged in a debate about how to rule the world.ĭon’t think of this as some conspiratorial plot, but as a perfectly commonsensical debate over what policies are in the best interests of those who hire phalanxes of Washington lobbyists and fill the coffers of presidential and congressional campaigns. Yet, despite their sometime chumminess, these powerful few are now in disagreement over how American power should be shaped in the post-Bush era and increasing numbers of them are jumping ship when it comes to the course the Republicans have chosen to advance these last years. These are the types who gather at the annual, ultra-exclusive World Economic Forum in Davos, Switzerland and have their assistants trade business cards for them. One of the more curious aspects of the Bush years is that the self-proclaimed “uniter” polarized not only American society, but also its business and political elites. Amid the populist gala, one might well spot figures of high standing in the corporate world, individuals who once would have looked forward to the reign of an MBA president but now believe that neocon bravado is no way to run an empire. More surprising, however, might be the number of people in the crowd drinking finer brands of champagne. Given that presidential job approval ratings have rarely broken 40% for two years and now remain obdurately around or below 30% - historic lows - it would not be surprising if this were a sizeable celebration. Even Americans not normally inclined to political life might be tempted to join the festivities, bringing their own bottles of bubbly to the party. It’s easy enough to imagine a party marking this fine occasion, with antiwar protestors, civil libertarians, community leaders, environmentalists, health-care advocates, and trade unionists clinking glasses to toast the end of an unfortunate era. Picture January 20, 2009, the day George W. Now, the world is looking at things much differently. The United States, however, is a very different creature than it was in the confident years when these men rode high. The campaign promptly “released a joint statement by the former SEC chiefs, as well as former Federal Reserve Chairman Paul Volcker, that praised Obama’s ‘positive leadership and judgment’ on economic issues.” After all, while John Edwards received the headlines this week for throwing his support behind Barack Obama, that presidential candidate also got the nod from three former Securities and Exchange Commission chairmen - William Donaldson, David Ruder, and Clinton appointee Arthur Levitt Jr. The question Engler is curious to have answered is this: If Bush-style “imperial globalization” is rejected in January, what will American ruling elites try to turn to - Clinton-style economic globalization? Certainly, as Engler points out, many in the business and financial communities are now rallying to the Democrats. So consider that series officially inaugurated by Foreign Policy in Focus analyst Mark Engler, who has just authored a new book that couldn’t be more relevant to our looming moment of transition: How to Rule the World: The Coming Battle Over the Global Economy. ![]() My last post, “Kiss American Security Goodbye,” was meant to mark the beginning of what will, over the coming months, be a number of Bush legacy pieces at Tomdispatch. What a crater we’ll have to climb out of by then! Still, it’s a reasonable moment to begin to look back over the last years - and also toward the post-Bush era. Bush and Dick Cheney leave office - though, given the cast of characters, it could seem like a lifetime. A mere eight months to go until George W. ![]()
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