The Role United States Plays in the Recent Long-term Crisis of Capitalist World-system (1970-2020)

Document Type : Research

Authors

1 Associate Professor ,, Dept. of Political Science, Faculty of Administrative Sciences and Economics, University of Isfahan, Isfahan, Iran.

2 Ph.D gradute of Political Sciology, Dept . of Political Sciences, Faculty of Administrative Sciences and Economics, University of Isfahan, Isfahan, Iran.

10.22126/ipes.2023.8749.1545

Abstract

The hegemonic role of United States in creating the long-term crisis of capitalistic world-system is a significant variable due to its systematic influence over global economy and politics. Additionally, the quasi-monopolistic control that United States holds over networking processes and manufacturing the world-system has structurally affected the transformations taken place in the systematic order of the international capitalistic landscape. This is a crucial matter to examine on the grounds of conceptualizing the complexities and contradictions present in United States’ capitalistic prospects and the ways in which these factors contribute to manufacturing the world-system based on systematic hegemonic relations. Therefore, the main question is, how United States’ hegemony has influenced the recent systematic crisis in the capitalistic world-system? Findings confirm that the changes made in the capitalistic system of United States and their crisis-inducing contradictions have imposed a systematic upheaval on the entirety of the global capitalistic landscape through the hegemonic relations in reproducing the world system and Washington’s techniques of neutralization to impede the possible systematic transition to the 4th hegemonic cycle. This research is presented in an attempt to analyze the aforementioned phenomena on the basis of concocting a theoretical paradigm combining an examination of world systems and the epistemology of complexity.                                                      

Highlights

استیگلیتز، ژوزف (1387). جهانی‌سازی و مسائل آن. ترجمه حسن گلریز. تهران: نشر نی.

اسکوبار، آرتور (1400). مواجهه با توسعه. ترجمه مهدی اکبری گلزاری. تهران: نشر گل‌آذین.

مارکس، کارل (1392). سرمایه. جلد سوم. ترجمه حسن مرتضوی. تهران: لاهیتا.

مک کوی، آلفرد (1400). در سایه قرن آمریکایی. ترجمه روح‌الله عبدالمکی. تهران: سروش.

مورن، ادگار (1370). سرمشق گمشده، طبیعت بشر. ترجمه دکتر علی اسدی. تهران: سروش.

مورن، ادگار (1391). روش. ترجمه علی اسدی. تهران: سروش.

هاروی، دیوید (1394). هفده تناقض و پایان سرمایه‌داری. ترجمه خسرو کلانتری و مجید امینی. تهران: نشر کلاغ.

References

Amin, S. (2011). Ending the Crisis of Capitalism or Ending Capitalism?, Cape Town,Pambazuka Press.

Escobar, A. (2012). Encountering development: the making and unmaking of the Third World. Tehan: Gol Azin Press (In Persian).

Atkinson, A. B., & Piketty, T. (2007). Top Incomes over the Twentieth Century: A Contrast between European and English-Speaking Countries. New York, Oxford University Press.

Atikian, J. (2013). Industrial Shift: the Structure of the New World Economy. New York, Palgrave Pivot.

Abreu, M. d. P., Agarwal, M., Kadochnikov, S., Mikic, M., Whalley, J. & Yongdig, Y. (2009). The Centre for International Governance Innovation (CIGI), Ontario, https://www. cigionline. org/sites/default/files/task_force1.pdf

Arrighi, G. (2010). The Long Twentieth Century: Money, Power and the Origins of Our Time. London, Verso Books.

Agnew, J. (2005). Hegemony: The New Shape of Global Power. Philadelphia, Temple University Press.

Barnett, V. (1998). Kondratiev and the Dynamics of Economic Development, Long Cycles and Industrial Growth in Historical Context. London, Macmillan Press LTD.

Basu, K., & Stiglitz, J. E. (2016). Inequality and Growth: Patterns and Policy_ Volume II_ Regions and Regularities. London, Palgrave Macmillan.

Berberoglu, B. (2012). Beyond the Global Capitalist Crisis: The World Economy in Transition. UK, Ashgate Publishing Limited.

Black, J. (2007). Great Powers and the Quest for Hegemony: The World Order Since 1500. New York, Routledge.

Brown University (2020). Costs of the 20-year war on terror: $8 trillion and 900,000 deaths, https://www. brown. edu/news/2021-09-01/costsofwar

Callinicos, A. (2009). Imperialism and Global Political Economy. Cambridge, Polity.

Congressional Research Service (2020). Arms Sales in the Middle East: Trends and Analytical Perspectives for U. S. Policy.

Cook, J. (2008). Israel and the Clash of Civilisations: Iraq, Iran and the Plan to Remake the Middle East. London, Pluto Press.

Cossu, L.; Beaumont, C., Jacques, H. & Velut, J. B. (2015). The Crisis and Renewal of U. S. Capitalism, New York, Routledge.

Dabbah, M. M. (2007). Competition Law and Policy in the Middle East, New York, Cambridge University Press.

Dorrien, G. (2004). Imperial Designs: Neoconservatism and the New Pax Americana, New York, Routledge.

Duménil, G., & Lévy, D. (2011). The Crisis of Neoliberalism. Cambridge: Harvard University Press.

Fels, E. (2017). Shifting Power in Asia-Pacific: The Rise of China, Sino-US Competition and Regional Middle Power Allegiance. Switzerland: Springer International Publishing.

Fusaro, L. (2018). Crises and Hegemonic Transitions: From Gramsci's Quaderni to the Contemporary World Economy. Leiden: Brill Publishing.

Fukuyama, F., & Fasting, M. (2021). After the End of History. Georgetown: Georgetown University Press.

Harvey, D. (2015). Seventeen Contradictions and the End of Capitalism. Tehran: Kalaq Press (In Persian).

Hopkins, T., & Wallerstein, I. (1982). World Systems Analysis: Theory and Methodology. London: Sage Publications.

Hossein-zadeh, I. (2006). Political Economy of U. S. Militarism. New York: Palgrave Macmillan Ltd.

Hudson, M. (2003). Super Imperialism: The Origin and Fundamentals of U. S. World Dominance. London: Pluto Press.

Heginbotham, E. (2015). The US-China military scorecard: forces, geography, and the evolving balance of power. California: RAND Corporation.

Hornborg, A., Martínez. A. A., McNeill, J., Robert, J., & Wallerstein, I. M. (2007). Rethinking environmental history: world-system history and global environmental. Plymouth: Altamira press.

Johnson, J. (2018). The US-China Military and Defense Relationship during the Obama Presidency. LondonSpringer International Publishing & Palgrave Macmillan.

Kiely, R. (2005). The Clash of Globalisations: Neo-Liberalism, the Third Way and Anti-Globalisation. Leiden & Boston: Brill Publications.

Kleinknecht, A., Mandel, E., & Wallerstein, I. (1992). New Findings in Long-Wave Research. London: Palgrave Macmillan.

Krippner, G. R. (2011). Capitalizing on Crisis: The Political Origins of the Rise of Finance. Cambridge: Harvard University Press.

Kolko, G. (1970). The Roots of American Foreign Policy: An Analysis ofPower and Purpose. USA: Beacon Press.

Li, M. (2016). China and the Twenty first Century Crisis. London: Pluto Press.

Marx, K. (2013). Capital: Critique of Political Economy Volume 3. Tehran: Lahita Publication (In Persian).

McCoy, A. (2021). In the Shadows of the American Century: The-Rise and Decline of US Global-Power. Tehran: Soroush Press (In Persian).

Maddison Project (2013). GDP per capita, mpd_2013-01. xlsx.

Maddison, A. (2010). Historical Statistics of the World Economy: 1–2008 AD, Horizontal-fie_02-2010. xls.

Maddison, A. (2007). Contours of the World Economy, 1–2030AD. New York: Oxford University Press Inc.

Mahmud Ali, S. (2015). US-China Strategic Competition: Towards a New Power Equilibrium. New York: Springer Press.

Morgan, F. E., & Cohen, R. S. (2020). Military Trends and the Future of Warfare. California: RAND Corporation.

Morin, E. (2012). Method vol2. Tehran: Soroush Press (In Persian).

Morin, E. (1991). El Paradigma Perdido. Tehran: Soroush Press (In Persian).

Moseley, F. (1991). The Falling Rate of Profit in the PostwarUnited States Economy. London: M Macmillan Ltd.

Nasser, A. (2018). Overripe Economy American Capitalism and the Crisis of Democracy. London: Pluto Press.

Nivat, A. (2005). The Wake of War: Encounters with the People of Iraq and Afghanistan. Massachusetts: Beacon Press.

Ryan, M. (2019). Full Spectrum Dominance: irregular warfare and the war on terror. California: Stanford University Press Stanford.

Rebuilding America’s Defenses (2000). Strategy, Forces and Resources for a New Century, A Report ofThe Project for the New American Century.

Overseas Development Institute: ODI (2010). The global financial crisis and developing countries, Working Paper (Print), ODI Working Papers (Online), London. https://cdn.odi. org/media/ documents/5856. pdf

Pain, A.; Kerami, K. & Nemat, O. (2021). Drugs and development in Afghanistan, Afghanistan Research and Evaluation Unit, https://reliefweb. int/attachments/5e379b93-b272-34e5-9208-7835be3b184c/Afghanistan-stakeholder-analysis-2021_Final.pdf

Petersson, M. (2015). The US NATO debate: from Libya to Ukraine. New York: Bloomsbury Academic.

Piketty, T. (2020). Capital and ideology, translated by Arthur Goldhammer, Massachusetts. Cambridge: Harvard University Press.

Ramanaiah, M. V. (2011). Impact of Global Economic Crisis on Developing Countries: An Overview, Article in SSRN Electronic Journal, https://www.researchgate. net

Ross, D. (2015). Doomed tosucceed: the U. S. -Israel relationship from Truman to Obama. New York: Farrar, Straus and GirouxPublishing (epub).

Saull, R., Anievas, A., Davidson, N., & Fabry, A. (2015). The Longue Durée of the Far- Right. New York: Routledge Press.

Screpanti, E. (2014). Global imperialism and the great crisis: the uncertain future ofCapitalism. New York: Monthly Review Press.

Serra, N., & Stiglitz, J. E. (2008). The Washington Consensus Reconsidered: Towards a New Global Governance. New York: Oxford University Press.

Sinn, H. W. (2010). Casino Capitalism: How the Financial Crisis Came About and What Needs to be Done Now. Oxford University Press: Oxford.

Stockholm International Peace Research Institute (2021). Military Spending Graphics, https://www. sipri. org/gallery/military-spending-graphics-2020

Smith, J. (2016). Imperialism in the twenty-first century: globalization, super-exploitation, and capitalism’s final crisis. New York: Monthly review Press.

Stiglitz, J. E. (2008). Globalization And Its Discontent. Nash-E-Ney Press (In Persian).

Taft, Ch. E. (2016). From Steel to Slots: Casino Capitalism in the Postindustrial City. Harvard University Press: Cambridge.

 United Nations (2010). The Financial and Economic Crisis of 2008-2009 and Developing Countries. New York: United Nations.

United Nations Office on Drugs and Crime (2022). Afghanistan Opium Survey 2021Cultivation and Production, https://www. unodc. org/

United Nations (2022). Global Impact of war in Ukraine on food, energy and finance systems, https://news. un. org/pages/wp-content/uploads/2022/04/UN-GCRG-Brief-1. pdf

UNIDO: United Nations Industrial Development Organization (2011). The Global Financial Crisis and the Developing World: Impact on and Implications for the Manufacturing Sector. Vienna. https://www.unido.org

Wallerstein, I. (2000). The Essential Wallerstein. New York: New Press.

Weaver, F. S. (2011). The United States and Global Economy: From Bretton Woods to the Current Crisis. New York: Rowman & Littlefield Publishing Group, Inc.

World Bank (2022). World Bank national accounts data, and OECD National Accounts data files. https://data. worldbank. org/indicator/NY. GDP. MKT

Zhao, S. (2008). China–U. S. Relations Transformed: Perspectives and strategic interactions. New York: Routledge.

Zhu, Z. (2006). US-China in the 21 Century: Power Transition and Peace, New York: Routledge.

Keywords

Main Subjects

References

استیگلیتز، ژوزف (1387). جهانی‌سازی و مسائل آن. ترجمه حسن گلریز. تهران: نشر نی.
اسکوبار، آرتور (1400). مواجهه با توسعه. ترجمه مهدی اکبری گلزاری. تهران: نشر گل‌آذین.
مارکس، کارل (1392). سرمایه. جلد سوم. ترجمه حسن مرتضوی. تهران: لاهیتا.
مک کوی، آلفرد (1400). در سایه قرن آمریکایی. ترجمه روح‌الله عبدالمکی. تهران: سروش.
مورن، ادگار (1370). سرمشق گمشده، طبیعت بشر. ترجمه دکتر علی اسدی. تهران: سروش.
مورن، ادگار (1391). روش. ترجمه علی اسدی. تهران: سروش.
هاروی، دیوید (1394). هفده تناقض و پایان سرمایه‌داری. ترجمه خسرو کلانتری و مجید امینی. تهران: نشر کلاغ.
References
Amin, S. (2011). Ending the Crisis of Capitalism or Ending Capitalism?, Cape Town,Pambazuka Press.
Escobar, A. (2012). Encountering development: the making and unmaking of the Third World. Tehan: Gol Azin Press (In Persian).
Atkinson, A. B., & Piketty, T. (2007). Top Incomes over the Twentieth Century: A Contrast between European and English-Speaking Countries. New York, Oxford University Press.
Atikian, J. (2013). Industrial Shift: the Structure of the New World Economy. New York, Palgrave Pivot.
Abreu, M. d. P., Agarwal, M., Kadochnikov, S., Mikic, M., Whalley, J. & Yongdig, Y. (2009). The Centre for International Governance Innovation (CIGI), Ontario, https://www. cigionline. org/sites/default/files/task_force1.pdf
Arrighi, G. (2010). The Long Twentieth Century: Money, Power and the Origins of Our Time. London, Verso Books.
Agnew, J. (2005). Hegemony: The New Shape of Global Power. Philadelphia, Temple University Press.
Barnett, V. (1998). Kondratiev and the Dynamics of Economic Development, Long Cycles and Industrial Growth in Historical Context. London, Macmillan Press LTD.
Basu, K., & Stiglitz, J. E. (2016). Inequality and Growth: Patterns and Policy_ Volume II_ Regions and Regularities. London, Palgrave Macmillan.
Berberoglu, B. (2012). Beyond the Global Capitalist Crisis: The World Economy in Transition. UK, Ashgate Publishing Limited.
Black, J. (2007). Great Powers and the Quest for Hegemony: The World Order Since 1500. New York, Routledge.
Brown University (2020). Costs of the 20-year war on terror: $8 trillion and 900,000 deaths, https://www. brown. edu/news/2021-09-01/costsofwar
Callinicos, A. (2009). Imperialism and Global Political Economy. Cambridge, Polity.
Congressional Research Service (2020). Arms Sales in the Middle East: Trends and Analytical Perspectives for U. S. Policy.
Cook, J. (2008). Israel and the Clash of Civilisations: Iraq, Iran and the Plan to Remake the Middle East. London, Pluto Press.
Cossu, L.; Beaumont, C., Jacques, H. & Velut, J. B. (2015). The Crisis and Renewal of U. S. Capitalism, New York, Routledge.
Dabbah, M. M. (2007). Competition Law and Policy in the Middle East, New York, Cambridge University Press.
Dorrien, G. (2004). Imperial Designs: Neoconservatism and the New Pax Americana, New York, Routledge.
Duménil, G., & Lévy, D. (2011). The Crisis of Neoliberalism. Cambridge: Harvard University Press.
Fels, E. (2017). Shifting Power in Asia-Pacific: The Rise of China, Sino-US Competition and Regional Middle Power Allegiance. Switzerland: Springer International Publishing.
Fusaro, L. (2018). Crises and Hegemonic Transitions: From Gramsci's Quaderni to the Contemporary World Economy. Leiden: Brill Publishing.
Fukuyama, F., & Fasting, M. (2021). After the End of History. Georgetown: Georgetown University Press.
Harvey, D. (2015). Seventeen Contradictions and the End of Capitalism. Tehran: Kalaq Press (In Persian).
Hopkins, T., & Wallerstein, I. (1982). World Systems Analysis: Theory and Methodology. London: Sage Publications.
Hossein-zadeh, I. (2006). Political Economy of U. S. Militarism. New York: Palgrave Macmillan Ltd.
Hudson, M. (2003). Super Imperialism: The Origin and Fundamentals of U. S. World Dominance. London: Pluto Press.
Heginbotham, E. (2015). The US-China military scorecard: forces, geography, and the evolving balance of power. California: RAND Corporation.
Hornborg, A., Martínez. A. A., McNeill, J., Robert, J., & Wallerstein, I. M. (2007). Rethinking environmental history: world-system history and global environmental. Plymouth: Altamira press.
Johnson, J. (2018). The US-China Military and Defense Relationship during the Obama Presidency. LondonSpringer International Publishing & Palgrave Macmillan.
Kiely, R. (2005). The Clash of Globalisations: Neo-Liberalism, the Third Way and Anti-Globalisation. Leiden & Boston: Brill Publications.
Kleinknecht, A., Mandel, E., & Wallerstein, I. (1992). New Findings in Long-Wave Research. London: Palgrave Macmillan.
Krippner, G. R. (2011). Capitalizing on Crisis: The Political Origins of the Rise of Finance. Cambridge: Harvard University Press.
Kolko, G. (1970). The Roots of American Foreign Policy: An Analysis ofPower and Purpose. USA: Beacon Press.
Li, M. (2016). China and the Twenty first Century Crisis. London: Pluto Press.
Marx, K. (2013). Capital: Critique of Political Economy Volume 3. Tehran: Lahita Publication (In Persian).
McCoy, A. (2021). In the Shadows of the American Century: The-Rise and Decline of US Global-Power. Tehran: Soroush Press (In Persian).
Maddison Project (2013). GDP per capita, mpd_2013-01. xlsx.
Maddison, A. (2010). Historical Statistics of the World Economy: 1–2008 AD, Horizontal-fie_02-2010. xls.
Maddison, A. (2007). Contours of the World Economy, 1–2030AD. New York: Oxford University Press Inc.
Mahmud Ali, S. (2015). US-China Strategic Competition: Towards a New Power Equilibrium. New York: Springer Press.
Morgan, F. E., & Cohen, R. S. (2020). Military Trends and the Future of Warfare. California: RAND Corporation.
Morin, E. (2012). Method vol2. Tehran: Soroush Press (In Persian).
Morin, E. (1991). El Paradigma Perdido. Tehran: Soroush Press (In Persian).
Moseley, F. (1991). The Falling Rate of Profit in the PostwarUnited States Economy. London: M Macmillan Ltd.
Nasser, A. (2018). Overripe Economy American Capitalism and the Crisis of Democracy. London: Pluto Press.
Nivat, A. (2005). The Wake of War: Encounters with the People of Iraq and Afghanistan. Massachusetts: Beacon Press.
Ryan, M. (2019). Full Spectrum Dominance: irregular warfare and the war on terror. California: Stanford University Press Stanford.
Rebuilding America’s Defenses (2000). Strategy, Forces and Resources for a New Century, A Report ofThe Project for the New American Century.
Overseas Development Institute: ODI (2010). The global financial crisis and developing countries, Working Paper (Print), ODI Working Papers (Online), London. https://cdn.odi. org/media/ documents/5856. pdf
Pain, A.; Kerami, K. & Nemat, O. (2021). Drugs and development in Afghanistan, Afghanistan Research and Evaluation Unit, https://reliefweb. int/attachments/5e379b93-b272-34e5-9208-7835be3b184c/Afghanistan-stakeholder-analysis-2021_Final.pdf
Petersson, M. (2015). The US NATO debate: from Libya to Ukraine. New York: Bloomsbury Academic.
Piketty, T. (2020). Capital and ideology, translated by Arthur Goldhammer, Massachusetts. Cambridge: Harvard University Press.
Ramanaiah, M. V. (2011). Impact of Global Economic Crisis on Developing Countries: An Overview, Article in SSRN Electronic Journal, https://www.researchgate. net
Ross, D. (2015). Doomed tosucceed: the U. S. -Israel relationship from Truman to Obama. New York: Farrar, Straus and GirouxPublishing (epub).
Saull, R., Anievas, A., Davidson, N., & Fabry, A. (2015). The Longue Durée of the Far- Right. New York: Routledge Press.
Screpanti, E. (2014). Global imperialism and the great crisis: the uncertain future ofCapitalism. New York: Monthly Review Press.
Serra, N., & Stiglitz, J. E. (2008). The Washington Consensus Reconsidered: Towards a New Global Governance. New York: Oxford University Press.
Sinn, H. W. (2010). Casino Capitalism: How the Financial Crisis Came About and What Needs to be Done Now. Oxford University Press: Oxford.
Stockholm International Peace Research Institute (2021). Military Spending Graphics, https://www. sipri. org/gallery/military-spending-graphics-2020
Smith, J. (2016). Imperialism in the twenty-first century: globalization, super-exploitation, and capitalism’s final crisis. New York: Monthly review Press.
Stiglitz, J. E. (2008). Globalization And Its Discontent. Nash-E-Ney Press (In Persian).
Taft, Ch. E. (2016). From Steel to Slots: Casino Capitalism in the Postindustrial City. Harvard University Press: Cambridge.
 United Nations (2010). The Financial and Economic Crisis of 2008-2009 and Developing Countries. New York: United Nations.
United Nations Office on Drugs and Crime (2022). Afghanistan Opium Survey 2021Cultivation and Production, https://www. unodc. org/
United Nations (2022). Global Impact of war in Ukraine on food, energy and finance systems, https://news. un. org/pages/wp-content/uploads/2022/04/UN-GCRG-Brief-1. pdf
UNIDO: United Nations Industrial Development Organization (2011). The Global Financial Crisis and the Developing World: Impact on and Implications for the Manufacturing Sector. Vienna. https://www.unido.org
Wallerstein, I. (2000). The Essential Wallerstein. New York: New Press.
Weaver, F. S. (2011). The United States and Global Economy: From Bretton Woods to the Current Crisis. New York: Rowman & Littlefield Publishing Group, Inc.
World Bank (2022). World Bank national accounts data, and OECD National Accounts data files. https://data. worldbank. org/indicator/NY. GDP. MKT
Zhao, S. (2008). China–U. S. Relations Transformed: Perspectives and strategic interactions. New York: Routledge.
Zhu, Z. (2006). US-China in the 21 Century: Power Transition and Peace, New York: Routledge.
International Political Economy Studies
Volume 6, Issue 2 - Serial Number 2
March 2024
Pages 639-669

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History

  • Receive Date: 31 January 2023
  • Revise Date: 13 November 2023
  • Accept Date: 04 July 2023

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