There is no doubt that US is the single superpower of the international system, the hegemon, but the methods in which it exercises its powers is highly controversial. In some ways, it is apparent to the world, this being the military prowess of the United States. However, in others, it exists in the form of Wall Street, where large corporations and businessmen run the world economy to benefit their wealth. For years, their actions were only condemned by experts to the financial world, and their atrocities finally revealed after the global recession of 2007. Lastly, the US also runs its economic supremacy through puppet organizations that act as the hand of American elites. These are the International Monetary Fund and World Bank. In all three methodologies, the top 1% continue to expand their wealth at the expense of the 99% of the world population, living beneath them.
After World War II, the US military empire began as it increased its military expenditures rapidly, in response to the arms race with the Soviet Union. With its near-uncontested army, the US went around the world acting as the hand of freedom, spreading its sphere of influence. Although at first blocked, in some ways, by the Soviet Union, after the fall of the USSR, the United States became the dominant world power without any close competition. With the help of NATO and other great powers, the US secured it and its allies’ interests, especially in the Middle-East, through the threat of force. In fact, since the fall of the Soviet Union, high-ranking military officials have been drafting a plan in the Middle-East to ensure an abundance of supply of oil. However, they were lacking an explanation for such drastic measures. This excuse for war came in the form of a terrorist attack, more specifically, the September 11 terrorist attack brought forth by Al Qaeda. For a brief moment, the United States had the support of the whole world behind them, sympathizing for the innocent lives that were lost. Yet, for those who wanted to expand the American Imperialist Empire, this was an opportunity that could not be missed. On March 19, 2003, a series of airstrikes were conducted on the capitol of Iraq, Baghdad. From that moment, the people of the Middle-East felt resentment against the American power. For years, they’ve supported and welcomed the US sphere of influence, however, when that turned into violence, killing dozens of civilians and hitting none of its real targets in the corrupt government, their views changed drastically. The true purpose of the war on Iraq was hidden, as the Bush regime claimed it was a necessary action taken to ensure no such event such as that of 9/11 could ever be organized. Yet, the obvious goal of their invasion was to protect their access to oil supplies in the area. Soon after their invasion and destruction of Baghdad, private oil companies were allowed to be sent and extract oil supplies from Iraq. Their military actions were taken to benefit themselves. They haven’t upheld their responsibility to keep peace, instead, violated national sovereignty and the trust of the international community.
Another method in which the US is capable of controlling world economy is through Wall Street. To benefit the wealthy people, once again, the US government failed to regulate the actions being taken by the investors and corporations working in Wall Street. Large corporations and Wall Street businessmen were allowed to continuously invest, commit fraud, and many other illegal activities to massively enlarge their revenue streams. Action of risky investments, which was credited as not being too precarious by corrupted risk agencies, was allowed to continue to occur for years. Housing bubbles grew to a point in which, when it collapsed, the whole economy would topple. Warnings were given by experts all around the world, as Iceland had experienced a more local scale of such an event itself, to the Wall Street people, and more importantly, the US government. However, still, no actions were taken. As expected, when these “not risky” investments did fall, the whole world fell with it, resulting in the largest number of financial point drops since the Great Depression. The US allowing the Global Recession of 2007 to happen was only evidence that the capitalist world is running the US government system, not democracy itself, and it in turn, runs the world economy.
Finally, the US also uses the International Monetary Fund and World Bank, two organizations that both claim to be doing good, to further secure its own interests. As seen in the documentary Life and Debt, Jamaica, a small country in the Caribbean is suffering from the strict policies implemented by these despicable organizations. Yet, Jamaica is only one of many other countries that are being oppressed under this system of exploitation. In order to receive loans, in which these countries need to receive to expand its economy, IMF places restrictive policies that limit the budget a country can spend on education, health care, etc. However, without those essential factors in a country, its people will simply fail to advance from their simple agricultural lifestyle. The few that are capable to rise above the status quo leave the country, contributing to their serious crisis of brain drain. The US government subsidizes their agriculture such as in the dairy and meat industries, making it impossible for the impoverished farmers in Jamaica and other developing countries to compete in the international market.
Actions taken by these organizations were designed and constructed to benefit those who are already on top, despite the fact that they already have more than enough. Those who are at the bottom, and fail to rise themselves to a higher status, are kept there for a reason. The root cause of this is all the way at the top of our societal hierarchy. It may be hard to change, but they are obstacles we must overcome to move towards a more equal society.
After World War II, the US military empire began as it increased its military expenditures rapidly, in response to the arms race with the Soviet Union. With its near-uncontested army, the US went around the world acting as the hand of freedom, spreading its sphere of influence. Although at first blocked, in some ways, by the Soviet Union, after the fall of the USSR, the United States became the dominant world power without any close competition. With the help of NATO and other great powers, the US secured it and its allies’ interests, especially in the Middle-East, through the threat of force. In fact, since the fall of the Soviet Union, high-ranking military officials have been drafting a plan in the Middle-East to ensure an abundance of supply of oil. However, they were lacking an explanation for such drastic measures. This excuse for war came in the form of a terrorist attack, more specifically, the September 11 terrorist attack brought forth by Al Qaeda. For a brief moment, the United States had the support of the whole world behind them, sympathizing for the innocent lives that were lost. Yet, for those who wanted to expand the American Imperialist Empire, this was an opportunity that could not be missed. On March 19, 2003, a series of airstrikes were conducted on the capitol of Iraq, Baghdad. From that moment, the people of the Middle-East felt resentment against the American power. For years, they’ve supported and welcomed the US sphere of influence, however, when that turned into violence, killing dozens of civilians and hitting none of its real targets in the corrupt government, their views changed drastically. The true purpose of the war on Iraq was hidden, as the Bush regime claimed it was a necessary action taken to ensure no such event such as that of 9/11 could ever be organized. Yet, the obvious goal of their invasion was to protect their access to oil supplies in the area. Soon after their invasion and destruction of Baghdad, private oil companies were allowed to be sent and extract oil supplies from Iraq. Their military actions were taken to benefit themselves. They haven’t upheld their responsibility to keep peace, instead, violated national sovereignty and the trust of the international community.
Another method in which the US is capable of controlling world economy is through Wall Street. To benefit the wealthy people, once again, the US government failed to regulate the actions being taken by the investors and corporations working in Wall Street. Large corporations and Wall Street businessmen were allowed to continuously invest, commit fraud, and many other illegal activities to massively enlarge their revenue streams. Action of risky investments, which was credited as not being too precarious by corrupted risk agencies, was allowed to continue to occur for years. Housing bubbles grew to a point in which, when it collapsed, the whole economy would topple. Warnings were given by experts all around the world, as Iceland had experienced a more local scale of such an event itself, to the Wall Street people, and more importantly, the US government. However, still, no actions were taken. As expected, when these “not risky” investments did fall, the whole world fell with it, resulting in the largest number of financial point drops since the Great Depression. The US allowing the Global Recession of 2007 to happen was only evidence that the capitalist world is running the US government system, not democracy itself, and it in turn, runs the world economy.
Finally, the US also uses the International Monetary Fund and World Bank, two organizations that both claim to be doing good, to further secure its own interests. As seen in the documentary Life and Debt, Jamaica, a small country in the Caribbean is suffering from the strict policies implemented by these despicable organizations. Yet, Jamaica is only one of many other countries that are being oppressed under this system of exploitation. In order to receive loans, in which these countries need to receive to expand its economy, IMF places restrictive policies that limit the budget a country can spend on education, health care, etc. However, without those essential factors in a country, its people will simply fail to advance from their simple agricultural lifestyle. The few that are capable to rise above the status quo leave the country, contributing to their serious crisis of brain drain. The US government subsidizes their agriculture such as in the dairy and meat industries, making it impossible for the impoverished farmers in Jamaica and other developing countries to compete in the international market.
Actions taken by these organizations were designed and constructed to benefit those who are already on top, despite the fact that they already have more than enough. Those who are at the bottom, and fail to rise themselves to a higher status, are kept there for a reason. The root cause of this is all the way at the top of our societal hierarchy. It may be hard to change, but they are obstacles we must overcome to move towards a more equal society.