Foreword

doi:10.7591/cornell/9781501736575.002.0005

Front Matter

Foreword

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https://doi.org/10.7591/cornell/9781501736575.002.0005

Pages

vii–x

Published:

May 2019

Extract

The modern nation-state is usually regarded as the product of the Treaties of Westphalia in 1648, which ended the Thirty Years’ War and asserted the principle of national sovereignty in the political (and specifically religious) realm. Yet economics has never respected national frontiers: cross-national trade and labor migration have existed throughout recorded history. For some scholars, indeed, globalization is not a modern phenomenon but can be traced back at least five millennia. What is distinctive about recent decades is not so much the movement of people across national borders as the growth of multinational corporations, the elaboration of global (surplus) value chains, and the liberalization and transnationalization of finance capital. These trends receive substantial reinforcement from the European Union with its treaty commitment to the freedom of movement of goods, services, capital, and labor.

All these developments have undermined the nation-specific production regimes (or varieties of capitalism) that were consolidated in the middle decades of the twentieth century, have gravely weakened nationally embedded labor movements, and have disrupted once seemingly stable employment relationships and working-class communities. Unsurprisingly, there has been a political backlash, but in most countries with a perverse imbalance of focus. In the notorious British referendum on Brexit in 2016, a key slogan of the Leave camp was to “take back control.” However, this did not mean taking back control from multinationals, hedge funds, or financial speculators; and certainly not from the nondomiciled millionaire press barons whose editors acted as cheerleaders for the Leave campaign. Rather, controlling our borders meant keeping out foreign workers and their families (even though it has subsequently become clear that much of the British economy and public services would grind to a halt without them).

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