The Return of the State: Globalization,State Theory,and the New Imperialism *

The interest in state theory that swept academic circles following the Miliband–Poulantzas debate waned considerably in the late 1980s and 1990s so that much of the last decade was notable for the impoverishment of state theory. Indeed, during this time, there was a never ending litany of books and articles on the crisis of the nation-state, the eclipse of the state, the retreat of the state, and even the end of the nation-state. The central theme in these eulogies was that nation-states had lost control of their national economies, currencies, territorial boundaries, and even their cultures and languages and that macroscopic forms of power were shifting from the nation-state to the global market, transnational corporations, and globalized channels of communication. However, this article reexamines the relationship between globalization theory and state theory to argue that nation-states are the principal agents of globalization as well as the guarantors of the political and material conditions necessary for global capital accumulation. In contrast to those who see a nebulous logic of empire, a network state, or even a global state as the repositories of a new sovereignty, this paper suggests that globalization, in its current form, is actually a new form of American imperialism.