- Link:
- http://bnarchives.yorku.ca/13/
- Collection:
-
- Subjects
- BN Theory BN Trade BN State&Government BN Region - Middle East BN Cooperation&Collective Action BN Industrial Organization BN Institutions BN Power BN International&Global BN Region - Asia BN Region - North America BN Business Enterprise BN Value&Price BN Region - Pacific BN Crisis BN Production BN War&Peace BN Conflict&Violence BN Money&Finance BN Science&Technology BN Distribution BN Methodology BN Agency BN Comparative BN Capital&Accumulation BN Policy BN Class BN Growth BN State & Government BN Cooperation & Collective Action BN International & Global BN Value & Price BN War & Peace BN Conflict & Violence BN Money & Finance BN Science & Technology BN Capital & Accumulation
- Creators:
- Bichler, Shimshon Nitzan, Jonathan
- Type
- Article - Journal
- Format
- pdf http://bnarchives.yorku.ca/13/02/950801NB_Bringing_capital_accumulation_back_in.pdf
- Format
- coverimage http://bnarchives.yorku.ca/13/03/950801NB_Bringing_capital_accumulation_back_in_front.jpg
- Description
- This paper offers an alternative approach to the
repeated occurrence of Middle East “energy conflicts.” Our analysis
centres around the process of differential capital accumulation,
emphasizing the quest to exceed the “normal rate of return” and to
expands one's share in the overall flow of profit. With the
evolution of modern capitalism, the dictates of differential
accumulation become an ever stronger unifying force, drawing both
state managers and corporate executives into increasingly
inextricable power driven alliances. The Middle East drama of oil
and arms since the 1970s has been greatly affected by this process.
On the one hand, rising nationalism and intensified industry
competition during the 1950s and 1960s forced the major oil
companies toward a greater cooperation with the OPEC countries. The
success of this alliance was contingent on the new atmosphere of
“scarcity” and oil crisis, which was in turn dependent on the
progressive militarization of the Middle East. On the other side of
the oil arms equation stood the large U.S. and European based
military contractors which, faced with heightened global
competition in civilian markets and limited defense contracts at
home, increased their reliance on arms exports to oil rich
countries. Over the past quarter century, the progressive
politicization of the oil business, together with the growing
commercialization of arms transfers helped shape an uneasy
Weapondollar Petrodollar Coalition between the principal military
contractors and petroleum companies. As their environment became
intertwined with the broader political realignment of OPEC and the
industrial countries, the differential profits of these companies
grew evermore dependent on the precarious interaction between
rising oil prices and expanding arms exports emanating from
successive Middle East “energy conflicts.” At the same time, these
companies were not passive bystanders. This is suggested firstly by
the very close correlation existing between their arms deliveries
to the Middle East and the region's oil revenues and, secondly, by
the fact that every single “energy conflict” since the 1967 Arab
Israeli War could have been predicted solely by adverse setbacks to
the differential profit performance of the large oil
companies!
- Format
- pdf
http://bnarchives.yorku.ca/13/02/950801NB_Bringing_capital_accumulation_back_in.pdf
- Format
- coverimage
http://bnarchives.yorku.ca/13/03/950801NB_Bringing_capital_accumulation_back_in_front.jpg
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