The conjucture of the first few decades of the twenty-first century witnessed Alex Callinicos usefully mapping the contours of imperialism as set out in his pivotal book Imperialism and Global Political Economy. As somewhat of a successor text, this is now accompanied by The New Age of Catastrophe that seeks to address today’s conjuncture of the multidimensional crisis (or polycrisis), the conditions of which are situated as immanent to capitalism as a totality. The creativity of Imperialism and Global Political Economy flowed from Callinicos offering an innovative reading of Nikolai Bukharin to propose a theory of imperialism at the intersection of two logics of power: capitalistic and territorial, or two forms of competition, economic and geopolitical. The book bears repeated revisiting. Indeed, I have done so recently in an article for the pages of International Affairs (see ‘Mainstreaming Marxism’, International Affairs 99: 3, 2023). There I demonstrate how unique Marxist approaches to both the structural theory of anarchy (drawing from Nikolai Bukharin) and racial capitalism (drawing from C.L.R.
authoritarian neoliberalism
During the 2010s, many states across the global South turned decisively to the right. Foreshadowed by the rise of Recep Erdogan in Turkey in the early 2000s, a wave of authoritarian populism swept political figures like Mahinda Rajapaksa, Jair Bolsonaro, Rodrigo Duterte, and Narendra Modi into power with very substantial popular mandates. If we agree that it is an important task to address this bias and to conceptualize southern authoritarian populism in its own right, it is also necessary to ask ourselves how we should approach this task – in short, how should we study authoritarian populism in the global South?
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Authoritarian Populism and Bovine Political Economy in Modi’s India takes these invitations seriously as it uses India’s bovine sector – key to the livelihoods of hundreds of millions of rural Indians – as the entry point for analysing capitalist dynamics under Modi’s authoritarian populism.
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In my undergraduate dissertation, titled: An exploration into how neoliberal economic policies have impacted Britain's North - South divide in urban spaces since the 1980s, I explore how Britain’s adoption of neoliberal policies furthered existing urban inequality through an ability to ‘lock-in’ existing variation and reinforce itself by coercing urban spaces to compete against each other. I emphasise the importance of viewing neoliberalism as a dynamic and contradictory framework as opposed to a static ideology, and encourage this to be mapped onto space, with a specific focus on urban spaces in Britain. This mapping enables the evolution and perpetuation of neoliberal ideology to be unpacked, with its ever-increasing influence on the living standards of citizens being key to understanding the geographic unevenness in British society.
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Over the past decade, two, intertwined research agendas on international financial subordination (IFS) and subordinate financialization (SF) have proposed to identify how an increasingly finance-dominated global capitalism incorporates the (Semi-)Peripheries.
The IFS research agenda recognizes that a “subordinate” national currency comes with a risk premium increasing the costs of financing public debt – in other words, the current, US dollar-based currency hierarchy acts as a structural fiscal constraint in the Global South, limiting the scope for badly needed public investments. Foreign capital – in the form of foreign currency-denominated sovereign and private debt-, foreign aid, and foreign direct investment – is then touted as a solution to this artificial and unfair developmental constraint.