>Let's stop here for a second, since this is the crux of the debate (and it
>effects a whole lot of issues). Does global capitalism need these
>multinational institutions to exert its power? Unlike you, I am not
>convinced that the answer is yes or even that capital would be weaker
>without them.
That's a good question, and I can't figure out the answer. There was a WSJ op-ed during WTO week arguing that capital didn't need the organization. But I wonder if that's just the usual libertarian blather about the spontaneous nature of markets. To both Marxists and practical businesspeople state coercion is necessary to create the social and legal environment in which markets can flourish. No IMF, no structural adjustment; no World Bank, no Third World industrial infrastructure. But then I think the integration of Mexico into the U.S. economic structure predated NAFTA, and the multinationalization of corporations proceeded apace under the much looser regime of GATT.
What do other people think?
Doug