Prof. Robert Guttmann analyses the current transformation of the international world order by looking at the evolutions of the international monetary system. Referring to a "long waves" approach, and building on the French Regulation Theory, he shows how globalization has actually been shaped in the last decades by the long-term transformation of fordism into finance-led capitalism. Today, finance-led capitalism (characterized by the hegemony of the United States and the international domination of the US dollar) approaches its final crisis, and globalization itself, as several indicators show, is retrenching. Three global capitalist blocks are emerging in the middle of this crisis, competing and cooperating with one another, under the common planetary threat of climate change.
Comment from our editors:
Very enlightening talk aggregating several perspectives and economic dimensions with one another. Grounds the current commercial war in a broader historical and macroeconomic context.