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Hi, need to submit a 3500 words paper on the topic Late Capitalism, the US Hegemony, Global Turbulence and Their Connections.
Hi, need to submit a 3500 words paper on the topic Late Capitalism, the US Hegemony, Global Turbulence and Their Connections. Finally, drawing upon other authors we have read, identify some of the strengths and weaknesses of Arrighi’s analysis of late capitalism.
This write-up would first analyze the aspect of the rise and decline of the US hegemony, as elaborated and interpreted by Giovanni Arrighi, in his book “The Long Twentieth Century”. It would then also analyze the issue of late capitalism as put forward by Arrighi. Arrighi, by combining the utmost logical arguments and related historical facts, comes out with an analysis that supports substantial levels of accuracy.
The aspect of the US Hegemony, though is overall different from the prior hegemonies of various regions of the globe, yet shares some similarities with those past scenarios (hegemonies). Before dwelling on the elaboration of the uniqueness of the US hegemony, it would be worthwhile to focus on the common features mentioned above.
Probably, the most striking feature that is common to all hegemonies of history, including the current one of the US, is the fact that, whenever the power centers sensed the danger of their position getting weakened, invariably, they initiated remedial measures by getting involved in conflicts concerning other parties. This involvement, along with the aspect of direct participation in the actual combat, also encompassed the issue of selling arms and weapons. That this sale went on to secure the immediate economic position of the zone having hegemony warrants no special mention. For instance, in the involvement of the Dutch in the conflict of the UK and France, and the role of the US in the Korean War speaks volumes of the aforesaid tendency of regions of hegemony, in getting involved in various conflicts for furthering their own commercial interests. .
As per Giovanni Arrighi, there is another prominent aspect that is common in all hegemonies. Towards the conclusion of an accumulation cycle, the Capitalist Powers moved the focus away from the aspects of production, and on to making .huge investments in zones where they are assured of earning significantly high profits.
