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The American Empire in a Changing World



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Sunday, April 22, 2012

James Petras: "The Rise and Demise of Extractive Capitalism''

From James Petras

''Extractive capital in its real-existing structure, operations and impact has a sharply polarizing effect, as measured by precise economic, social, environmental and political indicators.

The key is inequality: the unequal distribution of benefits and costs, the unequal distribution of political power and the unequal costs of environmental pollution. Inequality derives from the concentration of economic power in the international hierarchical structures of capital, reinforced and amplified by the local political executive (the regime) which imposes by fiat, the terms by which extractive capital exploits natural resources.''

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