Capitalism,Nationalism and the New American Empire

This article draws on Pareto's theory of elites to explore the relationship between American capitalism and American nationalism, and to connect the invasion of Iraq to classical theories of imperialism. Globalisation has changed the structure of the American economy and promoted interests that have an increased stake in free trade. Neither these interests nor the oil companies advocated intervention in Iraq. Globalisation also accelerated the decline of older industries that were inclined to be protectionist, but these were not prominent advocates of the invasion either. Winners and losers, however, were both deeply affected by the wider consequences of rapid economic change, which generated uncertainty about the direction society was taking and concern about its moral foundations. These anxieties prepared the way for a conservative revival based on family, faith and flag that enabled the neo-conservatives to transform conservative patriotism into assertive nationalism after 9/11. In the short term, the invasion of Iraq was a manifestation of national unity. Placed in a longer perspective, it reveals a growing divergence between new globalised interests, which rely on cross-border negotiation, and insular nationalist interests, which seek to rebuild fortress America.