Forever Under Construction

I Don’t Know

Posted in Economics, War on Terror by homeyra on April 28, 2008

Henry C. K. Liu is a regular contributor to Asia Times Online on economics and finance.

I enjoy reading C. K. Liu‘s articles, although I don’t understand half of his financial jargon. What eases my way through his lengthy specialized writings is that the social, cultural, historical, even artistic and philosophical aspects are always included. That’s where I got some idea about the history of central banking, the Bretton Woods regime and its collapse in 1971, the fiat currency, the dollar hegemony, etc.

A few days ago I came across the following article: The Global Economy in Transition presented in a conference in 2003. Here is Henry C. K. Liu‘s take on the “war on terrorism“:

“[…] The hollowing out of America’s manufacturing and digital sectors becomes a compelling rationale for US control of the world to protect its offshore sourcing. After all, wars have been fought to protect the supply of oil in places where nature has placed it; why should the United States not fight to protect where the “free” market puts its manufacturing and data processing? In this strategy, the US needs only two things: a powerful military with instant power-projection capability everywhere around the globe, and dollar hegemony to create dollars that can buy all the things that the world makes for export to the US. The British Empire was rationalized by the need of Britain to import food as domestic agriculture became crowded out by industry. Similarly, the US Empire will be rationalized by the need of the United States to import manufactured goods as domestic production is crowded out by financial services.

There are only two difficulties with this grand strategy: 1) to build the ideal empire, US workers will have to be retrained for the service sector and large numbers of both blue- and white-collar workers will fall through the cracks – and that creates problems in a democracy; and 2) the rest of the world is not stupid and may not take it lying down. So freedom and democracy at home will have to be modified in the name of homeland security and foreign resistance will have to be crushed in the name of freedom and democracy. The “war on terrorism” is tailor-made for this grand strategy.”

The complete Henry C. K. Liu, AToL
C. K. Liu’s website


6 Responses

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  1. 99 said, on April 28, 2008 at 6:50 pm

    It always bothers me that the U.N. has not worked harder to enforce their resolutions and to build a more comprehensive and effective overall structure so that there really could be a type of global government that was fair to everyone.

    I know. I know. ALL governments become corrupted by the power, but that does not have to be so. It is only so because people let it be so. We can stop letting it happen, or stop letting it get out of hand when we begin to realize it’s happening.

    It’s our physical cowardice that messes us up every time. Nobody will risk even losing their job, let alone injury or death, to stop something that has grown evil and lethal.

    It’s why we all love stories of heroes who will! It serves our fantasies of being saved by heroes.

    Pfeh. We really have to get over this.

  2. homeyra said, on April 29, 2008 at 6:32 am

    True 99, something like the UN, where its ruling are not applied selectively, still has to be invented.
    ah “heroes” …. I’ll settle for “grown ups” 🙂
    Interesting text you linked to, 99.

  3. 99 said, on April 29, 2008 at 6:26 pm

    These days, grown-ups amount to heroes, being a grown-up is heroic in today’s world. I don’t think grown-ups were this rare in history. I think that modernity has exacerbated the difficulty of growing into complete adulthood. Our bodies still look the part, but our mentalities are nothing like it.

    If there were grown-ups running our world, for instance, does anybody think things would be anything like what they are? No! Absolutely not.

  4. homeyra said, on May 1, 2008 at 4:32 pm

    99 Jacques Brel, the Belgian poet-singer, agrees when he sings about être vieux sans être adulte, getting old without growing up.
    The elite was supposed to educate the masses, now we need an educational body for the elite.

  5. aMiN said, on May 2, 2008 at 5:23 pm

    بلاگ خوبی داری و اگه هر از گاهی هم فارسی بنویسی مهشره

  6. homeyra said, on May 2, 2008 at 6:43 pm

    سلام امين. ممنون. راستش هيچ بدم نمي آيد كه يك بلاگ فارسي درست كنم . شايد سرم كه خلوت تر شد اينكار را بكنم

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