Supranational Class Formation and Concept of Control in Global Economy

Efstratios Kypriotelis (), Eirini Triarchi () and Konstantinos Karamanis ()
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Efstratios Kypriotelis: University of Ioannina
Eirini Triarchi: University of Ioannina
Konstantinos Karamanis: University of Ioannina

A chapter in Global, Regional and Local Perspectives on the Economies of Southeastern Europe, 2021, pp 105-118 from Springer

Abstract: Abstract In classical theory, the relationship between state and capital is presented as an internal relationship, although there is an argument that it is external. If the relationship is external, that means that state and capital are two separate entities in a dialectical relationship. The relationship between state and management and control is independent of the relationship between capital and state, whether the latter is internal or external. Some commentators have gone as far as to suggest that we are witnessing the era of the post-national corporations. Doubters have predicted the demise of the nation-state, and globalization has brought changes in state sovereignty, capitalize on its exposure to global market. On the contrary the nation-state persists, especially in its control of fiscal and monetary policies, and international business, thus remaining the only political unit. Many combinations and variations can be designed; the state is in a more advantageous position in the global market. The expansion of the state sector in the economy marks the expansion of the recognition of the social nature of the productive forces. However, historical evolution does not end with State Monopoly Capitalism, which is replaced by the Supranational Monopoly Corporation (SNMCo)—for subjective and objective reasons. This movement creates new trends in the control sphere of global economy, lending to the birth of external, supranational control. The transition to the global market takes place through the passage of capital and labor force movement into the global economy. This article offers a theoretical framework to explain and present the process of developing supranational class and supranational capital and their effect in control of global economy. The countries of SE Europe (SEE), located on the edge of both sides of EU and Eurasia are affected from the supranational control and unipolar global governance. Awareness of the closer reality rather than the wider unseen policy is the primary and necessary element towards the deeply divided Europe.

Keywords: Supranational capitalist class; Supranational capital; Globalization; Enterprise; Transnational capitalist class; F01; F20; F60 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-030-57953-1_7

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DOI: 10.1007/978-3-030-57953-1_7

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