the 'return' of the national state in the current crisis of the world market

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Capital 8cClass Capital & Class _ , . ^ # # . l_ 34(1)38-43 Th e return of t h e ©TheAuthor(s)2oio ^ _ , _ Reprints and permission: sagepub. l co.uk/¡ournalsPermissions.nav VI U IU CI DOI: 10.1177/0309816809353480 current crisis of the world market B ob Jessop Lancaster University, U K The period from the 1970s to the 1990s saw much discussion about the declining power of national states in the face of internationalization and, later, globalization. This topic has been explored within the Conference of Socialist Economists since its founding meeting in October 1970, as well as in many issues of its Bulletin and, later, in Capital & Class. The global economic crisis has reinvigorated this debate, and invites a return to some of the first principles of historical materialism. Starting with Marx and Engels' discussion of the wo rld market and national states, I explore the impac t of neoliberalism on both aspects of this relation and then draw some general conclusions. Keyv^^ords cri sis, Ma rx, national state, neoliberalism, transformation of state, w orld market Writing in the mid-1840s, Marx and Engels argued that the expansion of the world market was inhibited by the frictions entailed in a plurality of states and local markets, the 'clumsiness of production', and the underdevelopment of finance (1976: 56). In this context, the world-histot- ical 'achievement' of neoliberalism has been to reduce (without ever eliminating) the frictions and constraints on capital accumulation deriving from states as 'national power containers', as well as from 'inefficient' financial markets; to increase the emphasis on speed, acceleration and turnover time along with capital's short-term 'indifference' to its environment; to reinforce the dominance of exchange-value over use-value in the global economy; and to secure changes in extra-economic relations that facilitate the global expansion of capitalism and weaken resistance to these effects. Overall, this reinforces tendencies to uneven developm ent, as zones of instability and crisis are created as a condition and effect of relatively crisis-free expansion elsewhere. However, as Marx later noted, the world market is a place 'in which production is posited as a totality together with all its moments, but within which, at the same time, a ll contradictions come Corresponding author:

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Page 1: The 'Return' of the National State in the Current Crisis of the World Market

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