We all thought ‘class’ in the nation state was worrying? Globalisation has birthed a new baby of inequality; The global ruling class.
Globalisation has begun to create a global uniform of the rich. With the mobilisation of capital becoming more lucrative the super rich have been opened to more opportunities to acquire wealth. This is picture shows us a depiction of the homogenisation of the upper class which is happening all across the world. Hamm argues in a business journal that ‘this ruling class is self-sustained as it has 4 circles in order to maintain itself and continue to increase its accumulation of wealth. He notes that ‘the inner circle ‘is the ruling class itself which are the super rich and their families and clans of the elite. The second is Ceo’s of big transnational cooperations and financial firms. Top international politicians, Army leads and international institutions form the 3rd circle. The fourth circle is made up of lawyers, politicians and some celebrities and NGO’s. It is in the interest of the outer 3 circles to keep the wealth of the inner in order to maintain the wealth being produced(Hamm,2010).
This is the new world class system who own the mode of production in the global economy and they are becoming stronger. Transnational corporations, the expansion of the FDI and cross-national mergers are a few process which have lead to the development of this new international social class.
This is the most important issue in the global economy because this has lead to a global class struggle where the accumulation of wealth can lead to class based wars in order to fund more capital being acquired. Ham argued as the ruling class become more powerful ‘ Fascism is very likely to be a basic pillar of their ideology, and war will be just one of the tools to increase their power and profits'(Marshall2013).Furthermore using Hamm’s 4 circle theory the influence the ruling class have influence over crucial parts of society which will limit spending on welfare and social security.
Robinson argues that ‘In every region of the world, states, economies and political process are becoming transnationalism and integrated under the guidance of a new elite’. This shows that globalisation is only widening the gap and enforcing the inequalities which lie in all states(Robinson 2004) .
I don’t know who they are going to rule but if we don’t have global police they will rule all of us!
Hamm, B. (2010), “The Study of Futures, and the Analysis of Power”, Futures, 42, 1007-18
Marshall, A.G. (2013), “The Debtor’s War: A Modern Greek Tragedy”, available at http://www.informationclearinghouse.info/article36789.htm
Robinson, W (2004) , “A Theory of Global Capitalism: Production, Class, and State in a Transnational World (Themes in Global Social Change)”. Edition. Johns Hopkins University Press