‘The Making of an Atlantic Ruling Class’ by Kees Van Der Pijl is a sharp analysis of the rise of transnational capitalism and a new ruling class. A Dutch political scientist and former professor at the University of Sussex, Van Der Pijl first published this work in 1984, during the early days of the neoliberal revolution. It was republished in 2012 with a new preface reflecting on subsequent political and economic changes.
Van Der Pijl’s Marxist analysis traces transnational capitalism’s development from the late 19th to early 20th century, highlighting a class of capitalists unbound by national ties. This ruling class wielded economic power, influencing political decisions and global institutions like the World Bank and IMF. The book shows how this class consolidated power through networks of multinational corporations, financial institutions, and NGOs.
Blending theory and history, Van Der Pijl examines the modern Atlantic political economy’s origins and evolution up to the late 1970s. He details the rise of a hegemonic bloc of developed nation capitalist power during the post-war “golden age of capitalism”, marked by growth, full employment, and the Keynesian welfare state. The book meticulously outlines the history, key figures, structures, and events leading to this ruling class’ formation.
Van Der Pijl also explores the crises that led to the neoliberal regime, signalled by Thatcher and Reagan’s elections. In later works, the author would identify neoliberalism as the dominant control concept in the late 20th century.
The book argues that ruling classes must be checked by popular mobilisation to prevent a shift to authoritarianism, relevant to political shifts in the 1930s, 1970s, and today. Van Der Pijl places class formation at the heart of understanding world politics and the global economy, offering a landmark study of an Atlantic ruling class of multinational banks and corporations during the 20th century.
Despite Van Der Pijl’s later controversial views, which leaned towards conspiracism, ‘The Making of an Atlantic Ruling Class’ remains a significant work, notable for its thorough research and insightful analysis of the global political economy.
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