Abstract
Abstract Neoliberalism is the default position of capitalism in the absence of countervailing pressure on capital from popular forces pressing for greater social justice. The contradictions of unbridled neoliberalism are the contradictions of unrestrained capitalism. It is a system that tends toward self-destruction. To survive, it needs the restraining hand of the state, frequently brought into play by demands of the popular classes. With the globalization of capital in its corporate form, it is escaping the regulatory reach of nation-states. With the assistance of globalized states, transnational capital is building its own governance structure through the World Trade Organization and multilateral trade agreements like the TransPacific Partnership. What is emerging is an unbridled neoliberal regime in which states are only the administrative agents that protect capital against the popular classes. Being constructed secretly, bit by bit, is a global regime in which corporations are the citizens and globalized states are the local administrative units that enforce corporate dictates and maintain order. This is a world without popular sovereignty and without democracy. It is a world ruled by an insulated technocratic elite serving the interests of global capital. Without countervailing force from the popular classes, will it be able to arrest its self-destructive tendencies?
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