Global capitalism is what it is not only because it is global but, above all, because it is capitalist. The problems we associate with globalization - the social injustices, the growing gap between rich and poor, ‘democratic deficits’, ecological degradation, and so on - are there not simply because the economy is ‘global’, or because global corporations are uniquely vicious, or even because they are exceptionally powerful. These problems exist because capitalism, whether national or global, is driven by certain systemic imperatives, the imperatives of competition, profit-maximization and accumulation, which inevitably require putting ‘exchange-value’ before ‘use-value’ and profit before people. Even the most benign or ‘responsible’ corporation cannot escape these compulsions but must follow the laws of the market in order to survive - which inevitably means putting profit above all other considerations, with all its wasteful and destructive consequences. These compulsions also require...