THE ANTINOMIES OF TRANSNATIONALISM 35 NOTES 1. The Hindu, October 2, 1996. 2. This proposition is argued at length in my book Accumulation and Stability under Capitalism, Clarendon Press, Oxford, 1997. 3. The manner in which 'external shocks' can push a country into IMF-admmistered Structural adjustment' is discussed in C.P. Chandrashekhar "The Macroeconomics of Imbalance and Adjustment" in P. Patnaik ed. Macroeconomics, OUP, Delhi, 1995. 4. The discussion which follows is based on Utsa Patnaik, "Export Oriented Agriculture and Food Security in India and Developing Countries", Economic and Political Weekly, Special Number 1996. 5. This does not of course mean that knperialism necessarily supports the quest for power on the part of such forces. But it approves of them as a 'dog on a leash', a term used by M. Kalecki in "Fascism of Our Times" in The Last Sta^e in tlie Transformation of Capitalism, Monthly Review Press, New York, 1972. 6. The link between 'globalisation' and secessionism is discussed in my "The Nation-State in the Era of Clobalisation", Economic and Political Weekly, August 19,1995. 7. I am grateful to Jayati Ghosh for drawing my attention to this point. 8. The collapse of the Soviet Union has also no doubt been a crucial factor behind the restriction of this space but this collapse itself is not unrelated to the relatively greater unity among the capitalist powers. A fuller discussion of the contradictions and possibilities of economic nationalism in the Indian context can be found in P. Patnaik and C.P. Chandrashekhar, "The Indian Economy Under Structural Adjustment^', Economic and Political Weekly, November 25, 1995.