The World Market Battleground for 1990s

James Petras Analysing American imperial decline this paper draws attention to the elements that define the specificities of this decline. These include general decline of the national political economy along with a general increase in the rates of profit of particular corporate groups, world-wide decline of American political influence and global acceptance of its 'free market' discourse, the harnessing of US technology by Japanese and European investors increasing foreign takeovers of American productive units. Arguing against the use of non-class categories and in discussions of the US decline the author suggests that it is a class determined and class experienced crisis.