By Christopher Doran
The Iraq conflict outlined the 1st decade of the twenty-first century – resulting in mass protests and elevating profound questions on family politics and using army strength. but such a lot factors of the struggle have a slim concentration both on political personalities or oil.
Christopher Doran offers a distinct viewpoint, arguing that the force to struggle got here from the probability Iraq may well pose to American monetary hegemony if the UN sanctions regime was once ended. Doran argues that this hegemony is rooted in third-world debt and company industry entry. It was once defense of those preparations that prompted US motion, now not Iraq's alleged guns of mass destruction or a simplistic wish to grab its oil.
This booklet will offer new insights at the warfare which nonetheless casts a shadow over worldwide politics, and may have large entice all these desirous about the center East, international peace, and worldwide improvement.
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Additional resources for Making the World Safe for Capitalism: How Iraq Threatened the US Economic Empire and had to be Destroyed
The debt was owed primarily to the World Bank, the IMF, and the New York private banks that had been liberated under Nixon from the capital restraints built into the original Bretton Woods structure. As detailed below, bailout packages from the World Bank and IMF came with stringent conditions: Friedman’s neoliberal prescription of privatisation, deregulation and cutbacks on government spending. The structural adjustment programmes became the ultimate means of American control over a soon-to-be-neoliberalised global economy.
1 The United States was embargoed, and the crisis impacted on the US economy, but less so than it did other countries. The US was a domestic producer of oil, and therefore less dependent on OPEC and the Middle East. The how and why of Nixon colluding with the Saudis to quadruple the price of oil as a result of the embargo is examined in more detail in Chapter 9. The OPEC oil crisis followed the October 1971 decision by the Nixon administration to remove the US from the gold standard, which had been one of the major planks of the 1944 Bretton Woods 37 Doran T02525 01 text 37 02/04/2012 08:25 38 Making the World Safe for Capitalism Accord, which had established the World Bank and the International Monetary Fund.
Formed in 1972, the BRT’s membership included most of the Fortune 100 companies, which produced almost half of the US gross national product. 12 Other industries formed their own lobby groups, and along with mega-groups like the BRT and National Association of Manufacturers, there followed the formation of think tanks, financing of university departments, and a coordinated and consolidated attack against any and all legislation that hindered business and protected consumers. 13 Doran T02525 01 text 24 02/04/2012 08:25 A Full-Scale Economic Overhaul 25 Think tanks are the public policy arm of both the right and the left.
Making the World Safe for Capitalism: How Iraq Threatened the US Economic Empire and had to be Destroyed by Christopher Doran