Throughout Europe demands are being made for the re-regulation of American coroporate behaviour. We want a New Deal they ask in their papers. Corporate capitalism is good that is why we follow it that is why we support it they say. The Americanisation of Europe must proceed apace as that is what has led to the dynamic market economy of the USA and a couple of bad apples (Enron, World Com) do not spoil the cartfull.

This simplistic approach to globalisation aims to conceal the fact that US led globalisation isn't progress, despite the developments in technology. The USA is in decline and has been for two decades and more. the concentration of corporate power isn't a sign of economic progress but the declining rate of profit which forces corporations to
merge and consolidate as workers get poorer have to work longer hours for less money, twice as hard as their parents did to achive long term insecurity, declining health standards, educational standards and the globalisation of immiserisation.

The main argument from the globalists is that the world couldn't be in a better situation right now and that with some type of 'reformed'capitalism life will go on as before. This fails to understand the whole picture.

The American New Deal in the 1930's was possible because of the non-integration of the world economy to the extent it is today.European capitalism alongside Asian capitalism went bust. Stalinism by default gave a new lease of life to global captialism.

If caitalism can go bust and it does and its centre of gravity moves location depending on who is the least destoyed, ie whilst capitalism broke at its weakest link (Russia) it survived at its strongest (America). Do the conditions exist for its survival once most of its
productive base has been relocated (abroad) and it relies mostly on the position of global parasite.

Did Britain avoid historical decline because of its economic and military superiority? Did Britains economic policies lead to the stabilisation of world imperialism or to two world wars? Did Britains not also argue for free trade in its zenith a free trade which excluded all competitors from its markets with high taxation? Do the
free trade policies of Bush not lead to collapse of the third world and the breaking apart of global capitalism?

Will American capitalism go back to the New Deal or to a tremendous collapse. As no other economy exists on the horizon to bail out the USA. Unlike the previous two occasions when capitalism collapsed, America and the alternative economic model of Russia existed as a
means of securing global capitalism a breathing space, this time round only the bottom of the pit is possible, unless workers take control in the meantime