New Books in Critical Theory Laleh Khalili, "Extractive Capitalism: How Commodities and Cronyism Drive the Global Economy" (Profile Books, 2025)
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May 1, 2025 Laleh Khalili, a Professor at the University of Exeter, dives deep into the darker side of our global economy in her new book, 'Extractive Capitalism.' She explores how the extraction of resources fuels inequality, from the plight of seafarers abandoned on ships to the cronyism that drives corporate profits. Khalili contrasts luxury yacht labor with commercial shipping, revealing stark wealth disparities. She also critiques modern projects like NEOM and China's Belt and Road, discussing their implications for marginalized workers and global capital.
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Oil and Sand as Capitalism Lenses
- Oil and sand are both natural resources transformed into global commodities with huge economic value.
- Their extraction shows capitalism's disregard for deep earth history and leads to human and environmental devastation.
Rotterdam's Central Trade Role
- Rotterdam's importance as Europe's top oil and container port stems from historic trade routes and colonial legacy.
- It functions as a global trade hub, especially for oil refining and commodity redistribution, making it strategically vital.
Seafarers' Hard Modern Reality
- Modern seafaring has fewer crew but worse conditions, especially for global south seafarers on unequal contracts.
- Automation and swift port turnarounds reduce rest, isolating seafarers from outside life during short port stays.