1. Who Governs?
- Author
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Brian SCHMITT
- Subjects
Globalization ,Clinton ,Bush ,Presidential elections ,Finance ,Social Sciences ,Social sciences (General) ,H1-99 - Abstract
The 1980s saw the ongoing transformation of the US economy toward a post-industrial economy that focused on finance, ICT (information & communication technologies), and intellectual property. In addition, the fall of the Berlin Wall in 1989 and the break up of the Soviet Union in 1991 set into place a dramatic restructuring of international relations, including the opportunity for a more unified global economy. The stage was set for the first post-Cold War presidential election. This paper argues that the new business leaders emerging out the economic restructuring represent a new “global investment class” that shares a set of strategic priorities which lead them to support the young and ambitious “New Democrat,” Bill Clinton over the established liberal Republican, George H. W. Bush. After (1) a short introduction, the paper (2) describes the global investment class and its strategies for expansion; (3) reviews the problem that the US victory in the Cold War left for the foreign policy establishment; (4) analyzes how differences between Bush and Clinton lead the GIC to prefer the latter; (5) discusses how the fusion of Clinton and the GIC represents, in C. Wright Mills term, a new “ruling epoch;” and (6) ends with a conclusion.
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