Economic Empire Building: The Centrality of Corruption
Saturday, November 25th, 2006By James Petras
11/24/06 “Information Clearing House” — – Economic Empire building (EEB) is the driving force of the US economy and became more central over the past five years. More than ever before in US economic history, the principal US banks, oil companies, manufacturers, investment houses, pension and mutual funds all depend on exploiting overseas nations and peoples to secure high rates of profit. Increasingly the majority of banking and corporate profits accrue from overseas plunder.
As EEB becomes central to the viability of the entire US economy, competition with Europe and Asia for lucrative investment rates and economic resources intensifies. Because of heightened competition, and the crucial importance of overseas profits, corporate corruption has become a decisive factor in determining which imperial center’s MNCs and banks will capture lucrative profit-generating enterprises, resources and financial positions. (more…)