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17/01/2011

Social Structure of Accumulation Theory for the Arab World: The Economies of Egypt, Jordan, and Kuwait in the Regional System

Karen Pfeifer

The theory of social structures of accumulation (SSA) was developed to explain long swings of alternating expansion and stagnation in Western capitalist economies. The post-World War II SSA led by the United
States entailed the projection of U.S. military power overseas, the allocation of U.S. foreign aid to allies and protégés, and the investment of U.S. surplus capital abroad. United States hegemony provided assurance of energy and raw material supplies and new arenas for the global spread of capitalist production, as well as the growth of markets for the United States and, increasingly, Western European and Japanese exports. Because many areas of the Arab region were rich in easily extractable sources of energy and conveniently located near Europe, controlling the region became an integral part of the United States’ economic and political strategy as it replaced shrinking British and French imperial power. -SOCIAL STRUCTURE OF ACCUMULATION THEORY FOR THE ARAB WORLD: The Economies of Egypt, Jordan, and Kuwait in the Regional System

http://meeaweb.org/meeapapers/Pfeiferssa.pdf

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