Authoritarian Capitalism in the Age of Globalization

Authoritarian Capitalism in the Age of Globalization

Peter Bloom

Exploring the rise of authoritarian capitalism, this book offers a fresh perspective on politics and economics in the present age of globalization. It asks the crucial question of whether individuals and nations can break free from the ‘grip’ of authoritarian capitalism in the twenty-first century. Peter Bloom includes a detailed and in-depth analysis of how marketization is promoting political authoritarianism across the world. He tells a story of authoritarian progress – where capitalist prosperity can only be delivered by the coercive rule of ‘self-disciplining’ nations and ‘disciplining’ trans-national institutions – and in which capitalist sovereignty is replacing liberal and social democracy. In doing so, Bloom helps readers rethink the structural as well as discursive role of sovereign power within capitalism, showing the ways the free market relies upon a range of authoritarian political fantasies not just for its growth but its very survival.

Chapter 7: A responsible global hegemony: the capitalist fantasy of authoritarian “good governance”

Peter Bloom

Subjects: business and management, corporate governance, organisation studies, economics and finance, institutional economics, politics and public policy, political economy

Abstract

This chapter sheds light on the authoritarianism crucial to the contemporary international spread and maintenance of capitalism. Rather than a weakened state or merely trans-national forms of sovereignty, it illuminates the continued reliance of the free market on an emboldened governmental force for its protection. The promise of “good governance” exists as an affective discourse for increasing the scope of national governments to broaden the limits of its coercive power in order to “secure” marketization domestically against popular threats. In this respect, corporate globalization has produced “self-disciplining” neoliberal states. It additionally has dramatically expanded the authority and subsequent authoritarianism of international actors to influence and directly determine a country’s politics to reflect these neoliberal values. Present, as will be shown, is a multi-level global authoritarian fantasy of capitalist good governance.

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