Global Governance in Question: Empire, Class, and the New Common Sense in Managing North-South Relations (Critical Introductions to World Politics)

'Global governance is the latest buzzword. Now comes a study that brings clarity and critical analysis to this ill-defined topic.'William I. Robinson, University of California-Santa Barbara'[An] acute and revealing examination of the economic difficulties facing the American empire.'Ronnie D. Lipschutz, Professor of Politics, University of California, Santa Cruz'Indispensable for students of international political economy and a must for political activists.' Professor Elmar Altvater, Department of Political Science, Free University, Berlin'Soederberg breaks new ground in disclosing the cumulative processes by which empire is represented and managed.'Philip McMichael, Professor and Chair of Development Sociology at Cornell UniversityLike many buzzwords, 'global governance' is as poorly understood as it is popular. In contrast to most mainstream accounts, this book examines global economic governance as an integral moment of contemporary capitalism -- presenting a critical insight into its real nature and the interests that it serves. This book begins by asking what has not been discussed in the mainstream debates and why. Drawing on a Marxist perspective, Soederberg explores neglected issues including transnational debt and the increasingly coercive nature of US aid to so-called 'failed states'. Soederberg argues that mainstream understandings fail to engage with the wider contradictions that characterise global capitalism. In consequence, there is no explanation of the changing nature of American empire and capitalist power in the world. Furthermore, Soederberg argues that global governance acts to normalise and legitimise increasingly austere forms of capitalist expansion, which may be regarded as a deepening and broadening of neoliberalism. Tables......Page 4 1. Global Governance in Question......Page 10 2. Transcending Common Sense: Towards an Historical- Materialist Critique of Global Governance......Page 33 3. Global Governance and Corporate Social Responsibility......Page 62 4. Managing Sovereign Default within the Transnational Debt Architecture......Page 105 5. Global Governance and Development Assistance: The Case of AmericaTMs Millennium Challenge Account......Page 136 6. Conclusion: Beyond Global Governance?......Page 166 Notes......Page 173 Bibliography......Page 188 Index......Page 208 3.2 Growth of the World's Largest Firms, 1962 - 82......Page 67 3.3 Stock of FDI in the South by Major Countries, 1967 and 1983......Page 80 3.4 FDI Outward Stock, by Home Region and Economy, 1980 - 2002......Page 81 3.5 FDI Inward Stock, by Host Region and Economy, 1980 - 2002......Page 82 3.6 Top 20 of the Financial Times Global 500 Rankings 2004......Page 86 4.1 Global Current Account Balances, 1981 - 2001......Page 111 4.2 Long- Term Debt......Page 120 5.1 Net Capital Flows to Developing Countries, 1997 - 2003......Page 150 5.2 Eligibility Criteria for the MCA......Page 160 9780745320700 Contents 4 1. Global Governance in Question 10 2. Transcending Common Sense: Towards an Historical- Materialist Critique of Global Governance 33 3. Global Governance and Corporate Social Responsibility 62 4. Managing Sovereign Default within the Transnational Debt Architecture 105 5. Global Governance and Development Assistance: The Case of AmericaTMs Millennium Challenge Account 136 6. Conclusion: Beyond Global Governance? 166 Notes 173 Bibliography 188 Index 208 Tables 4 3.1 US Direct Investment Position Abroad on an Historical- Cost Basis, 1955 - 2003 67 3.2 Growth of the World's Largest Firms, 1962 - 82 67 3.3 Stock of FDI in the South by Major Countries, 1967 and 1983 80 3.4 FDI Outward Stock, by Home Region and Economy, 1980 - 2002 81 3.5 FDI Inward Stock, by Host Region and Economy, 1980 - 2002 82 3.6 Top 20 of the Financial Times Global 500 Rankings 2004 86 4.1 Global Current Account Balances, 1981 - 2001 111 4.2 Long- Term Debt 120 5.1 Net Capital Flows to Developing Countries, 1997 - 2003 150 5.2 Eligibility Criteria for the MCA 160 Like many buzzwords,'global governance'is as poorly understood as it is popular. In contrast to most mainstream accounts, this book examines global economic governance as an integral moment of contemporary capitalism, presenting a critical insight into its real nature and the interests that it serves. This book begins by asking what has not been discussed in the mainstream debates and why. Drawing on a Marxist perspective, Susanne Soederberg explores neglected issues including transnational debt and the increasingly coercive nature of US aid to so-called ‘failed states'. She argues that mainstream understandings fail to engage with the wider contradictions that characterise global capitalism. In consequence, there is no explanation of the changing nature of American empire and capitalist power in the world. Global governance is often used by international policy-makers and scholars to describe and explain the socio-political infrastructure of globalization.

Introduction to global governance -- a key aspect of globalisation studies -- presenting a critical approach.