Imperialism, Dollarization and the Euro

Abstract

Argues that theories of globalization should shift their focus from the ideologies of capitalism & the market to explore the development of the world imperialist system. The dynamics of & contradictions in this development are examined, highlighting structural differentials between dominant & dominated countries. A critical dimension of imperialism -- international seigniorage -- is discussed, offering the struggle between the dollar & the Euro as an example of interimperialist rivalries. The class structure emerging from these developments is examined, identifying the creation of a "world bourgeoisie" & "world proletariat" existing alongside their national counterparts. K. Hyatt Stewart