Critical reflections on globalisation

The rise of globalism is intimately related to the growth of class conflict and the squeeze of profits during the limited globalisation period associated with the 'welfare state'. The crisis of declining profits associated with rising popular power is the source of the demise of 'national development'. The success of capital in undermining popular power, dismantling the welfare state and converting the state into an instrument of overseas expansion is the underlying condition for globalisation, not 'technological changes', 'world market imperatives' or the 'logic of capital'.