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For example, the transatlantic business dialogue, which has a board comprised of, you know, the major transatlantic capitalists. They, basically, they shadow the international meetings of state leaders and so forth in the mid-Atlantic region. And they prepare briefings papers, that they submit before each summit and so on and so forth. This is Project Censored show, Pacifica Radio. I have two questions.

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And Peter Phillips has certainly written about the transnational capitalist class, in terms of its connections to military companies and contractors and these types of things. There are points of contact, informally at least. But, for example, the Bilderberg conferences generally involve transnational capitalists as well as various state officials. But, you know, he certainly created a certain panic among European elites, in terms of some of his statements and cosying up to Russia.

But I wanted to know if you could somehow, maybe, encapsulate or give listeners kind of a brief history of the rise of what you are calling the transnational capitalist class. I mean capitalism has been sort of transnational and kind of a globalising force for, you know, five centuries. And, at the top of that power structure, you have the executives and directors of those largest corporations of those financial institutions. My colleague Meindert Fennema , really, did the path-breaking work on this sociologically, in terms of networks of the transnational capitalist class in the early s.

He was able to trace it, at that point.


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And the whole EU integration process has actually deepened that process in Europe. But the rest of the world is rather peripheral to the network. And the global south is, larglely, out of the picture. But, in the past 20 years, there has been some increase in that, you know, with the development of the so-called BRICS and so on. The high rates of capital accumulation in very large corporations developing in countries, like Brazil; obviously, China; India—that these corporate directors and executives of the really large corporations in the global south are beginning to hook into the transnational corporate elite.

But they still occupy quite a marginal position compared to the European and North American capitalists. And one of the things, since the [Global] Financial Crisis of , you say there has been a thinning , so to speak, of interlocks between major corporations worldwide. Does that play into the further establishment of these policy groups, the Trilateral Commission and others, that kind of cement opportunities for corporations and CEOs to talk to each other? I do think so. I think the policy groups have been proliferating.

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And that corporate policy elite network is a very important apparatus, if you like—again, informal. What we end up with is a pretty dense network of corporate executives and directors, who are connected through their participation in the transnational policy groups. This is an uneven process. But, in some countries, these corporate elite networks have been quite dramatically.

Japan would be an example of that. And it has to do with a number of factors. The topic is the transnational capitalist class. We often identify it with Margaret Thatcher , which is fair enough, in terms of the political mobilisation of neoliberalism in the s in the global north. But we can take it back to Augusto Pinochet and the coup in Chile in because, really, Pinochet implemented the first neoliberal project. And states are burdens on capital. So, the more capital is deregulated, the more public assets are privatised, and so on and so forth, which are basic to neoliberalism as a framework, the greater the power of capitalists and, especially, the capitalist, that control the very major corporations and financial institutions, the more power they have to move things around, to make the decisions, that they think will maximise their profits.

And, so, the labour, that people are doing in factories or in the service sector, whatever, gets turned into capital and turned into profit, some of which goes back to workers as wages. But the basic system is one of accumulating private wealth in the hands of a very small class of people. And huge amounts of money go into that. They, of course, influence the media and push that agenda.

Or is going to be more in isolating the United States economically?

The Making of a Transnational Capitalist Class

I think Trump is a very interesting phenomenon. And Reagan was doing the same thing at the same time. And, you know, I think Thatcher, certainly, was an authoritarian populist. But, in a sense, Donald Trump takes that to a new level, in terms of the combination of, kind of, white nationalism, that is in some ways in tension with neoliberalism—at least, they say, Hillary Clinton-style neoliberalism. So, for example, his public works programme is going to be a kind of programme, that privileges corporations and to some extent may be a kind of crony capitalist operation.

I mean, certainly, we could riff on the authoritarian populism.

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That was certainly a component to the campaigning and the rhetoric, that we saw here in the U. I mean these are Wall Street insiders. In many ways, is this not business as usual? Like, his cabinet—his cabinet is looks to me like a combination of corporate boardroom and a military junta.

The Making of a Transnational Capitalist Class

Who knows if Hillary Clinton, uh—she, actually, did win the election. And we just have to wait and see how that plays out, I guess. I think his approach is that of kind of very powerful corporate executive.


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And I think there is a kind of fascism in that, you know, a kind of commitment to the regnant goals of capital and of business. And, so, we can see that in Trump.

Identifying the emergence of a transnational capitalist class, they document its changing contours over the last two decades and its position in the global distribution of wealth and advantage. Powerful research using techniques of social network analysis shows that corporate power holders have become increasingly cosmopolitan and are the key agents of regional and global financial hegemony within the world economic system.

Mapping the social organization of this class through the network-analytic approach, the book reveals a multitude of corporate interlocks over space and time showing that transnational corporate and political linkages have been growing, particularly in the case of Fortune Global corporations from to All this is accomplished with the help of dozens of tables and figures, making this very complex subject much clearer to understand than would be the case with text alone. This book is the most significant recent contribution on the transnational capitalist class.

I know of no author in the field who has been able to combine a mastery of empirical method in analysing corporate and planning-group interlocks on a world scale, with an incisive political analysis of the forces occupying the most central locations in the networks that emerge from this analysis.

Combining theoretical acumen with an unfailing commitment to social justice and fairness, Carroll brings to this enterprise decades of research experience, which has only gained in sophistication over the years. Not only do his findings represent the most up-to-date and detailed information on the global structures of power.

The work equally includes, in a brilliant concluding chapter, an analysis of the social forces ranged against the intricate structures of corporate power and a realistic assessment of the balance of strength in each case. At a time when the capitalist world economy is in the throes of one of the deepest crises in its existence, a fine-grained mapping of the personalities, corporations, and private consultative bodies that actually were running the show to right before it came crashing down, this book is a bombshell that will help clear the way for a renovated global political economy.

Sensitive to the relations between the global, regional and national, the challenges posed by state capitalism, and the early impact of the global financial crisis, this will remain the definitive work on the subject for years to come. It raises numerous questions for further research and debate and makes a major contribution to critical social research. Carroll and his co-workers take the debates on global capitalism and the network society to a new level.

All those interested in this topic will find the book a fascinating and enjoyable read. Harry Potter Years by J. Rowling , Hardcover Harry Potter and the Sorcerer's Stone 1 by J. Harry Potter Boxset Books by J.