Nation-State in the Era of Globalisation

Nation-State in the Era of 'Globalisation' Prabhat Patnaik The current phase of capitalism is marked by the rise to dominance of financial or rentier interests and the fluidity of finance across national borders. This has undermined the 'control area' of nation-states and made all agendas of state intervention appear vacuous. This economic milieu, however, has had the effect of producing greater unity in the advanced capitalist world, but, as a dialectical counterpart of this, greater disunity in the third world with growing tendencies towards separatism, divisiveness and disintegration. Are we now doomed to this fate for ever or can we overcome it?