Neoliberalization and Transnational Capitalism in the American Mold

This contribution focusses on the close intertwinement of Americanization, neoliberalism, and corporate globalization at the turn of the twenty-first century, on the eve of the global economic recession of 2008 and after. Many students of current globalization tend to reject the whole notion of Americanization. It is argued that these theorists have thrown the proverbial baby out with the bath water, namely an interest in America's strong influence in many domains globally. Yet it is also recognized that one has to move beyond a state-centrist approach in order to adequately grasp the significantly increased influence of transnational corporations over the past few decades. Therefore this article explores the major ways in which transnational corporations – in relation to US-dominated international governance – spread capitalist modernity worldwide. An attempt is made to explain how US business leaders and affiliated political power-holders managed to set the agenda of much of the global economy and why many of their foreign counterparts adopted similar neoliberal policies. The article concludes with a brief overview of major challenges and countermovements to the predominant form of capitalist globalization.