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The Sword and the Dollar: Imperialism Revolution and the Arms Race
T o many, the foreign policy directives of the United States seem bewildering and sometimes inharmonious with its domestic political values. Why does the U.S. seem to support foreign dictators? Why has it invested so many of its resources in stockpiling nuclear arms? Why doesn't the U.S. act as a force for peace throughout the world? In this probing, provocative analysis, Michael Parenti reveals the hidden agenda of American foreign policy decsisions. No matter which party is in power, the U.S. acts to protect the interests of large American-based corporations, in order to maintain valuable overseas markets and cheap foreign labor. In lucid detail, Michael Parenti examines just how these very private interests determine America’s public policy goals, from the impoverishment of developing nations to the building of an intimidating nuclear arsenal. What he discovers will surely be controversial and suggests that the greatest threats to democracy—both here and abroad—may emanate from within the United States itself.
210 pages, Paperback
First published October 15, 1988
27 people are currently reading
782 people want to read
About the author
Michael Parenti
52 books1,635 followersMichael John Parenti, Ph.D. (Yale University) is an American political scientist, academic historian and cultural critic who writes on scholarly and popular subjects. He has taught at universities as well as run for political office. Parenti is well known for his Marxist writings and lectures. He is a notable intellectual of the American Left and he is most known for his criticism of capitalism and American foreign policy.
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Displaying 1 - 11 of 11 reviews
April 6, 2022
Parenti delivers information on the complex systems and issues discussed in this book beautifully — the many examples he provides almost always comes full circle with a juxtaposition to ensure a layered understanding. Definitely want to read more from him.
November 7, 2019
I thought this book was neat-o
May 13, 2023
As hinted by its publication date, this one is the book form, expanded version of the yellow-tinted Parenti lecture that seems to be the point of entry into his body of work for many folks - the other common entry point being Blackshirts & Reds. I've linked said lecture below, which is by all means a recommended watch. The Sword and the Dollar covers pretty much all of the points made in the lecture, adding more depth and examples of course. In fact many of the lines are shared word for word, or only lightly paraphrased between the lecture and the book.
https://www.youtube.com/watch?v=xP8Cz...
The book is a primer on US imperialism in the XXth century, occasionally venturing further into the past, and even more occasionally looking at other imperialist forces than the USA. The first half or so of the book looks at imperialism in general, its motivations, and modes of operation, with many examples that will be commonly unknown of the general public and certainly escaped my own historical education until I searched it myself or learned of it by happenstance (sometimes from Parenti himself). Invasions of Nicaragua, Grenada or early revolutionary Russia, financed overthrow of democratically elected leaders such as in Allende's Chile or in Greece, financing of counter-revolutionary forces in Mozambique, Cuba, El Salvador, etc, the books lists very many in different places in a somewhat frustratingly never exhaustive manner. And as ever, Parenti looks at these events through the lens of class analysis; he discusses how corporate interests (both of extractive industries, agrobusiness, and industrial-military complex) guide the exploitation of the Third World (I use his phrasing here), and how US interventionism has been characterized by a targeted suppression of governments or revolutions that seek to change the existing class structure.
Indeed he says, the US does not mind dictators and despots who let US capital flow into their country; and it intervenes when democratically elected leaders try to nationalize the land or resources previously exploited by US corporations. He also dispels some myths about foreign aid: when capital flows into a third world country as mentioned above, most of the dollars go to the benefit of the exploitative industries. He argues that these countries have been maldevelopped into poverty to the benefit of exploitative industry, the simplest example being the conversion funnelled by imperialist capital of agriculture feeding the people (beans and rice) to cash crops for export (coffee, sugar), leaving little, less arable land for people to feed themselves. Oftentimes, the condition of the common people improves, not regresses, when subjected to communist or socialist revolutions and 'regimes', unlike they would have us believe*.
The second half of the book focuses particularly on the Cold War era, and many of the fabricated myths of the evil deeds of the USSR. There is some overlap with Blackshirts and Reds here obviously, but there are lots of unique points made on both sides. I would argue that B&R is a good, more focused complement to this book. It focuses more on common anti-communist arguments (it's the same as nazism, stalinist atrocities - which Parenti does not deny!, communism just doesn't work), and is also an essential read in radical left literature. But I would say Sword & Dollar is actually a better entry point into Parenti's works, because it is wider in scope - unless the reader has a particular interest for communism only.
In this second half we learn that the Cold War really began in 1917 or before, as the US already was antagonistic towards the USSR and even invaded its territory well before the USSR could be a threat to the USA on any level; we learn about the artificial inflation of the military might of the USSR in US communications and media; we learn that the nuclear arms' race can be largely described as a chase, with the US unilaterally escalating to maintain superiority, and the USSR catching up; we learn about the many overtures for de-escalation that the USSR made and saw denied by the US, e.g. moratoria against nuclear testing or the reduction of the available arsenal. The book does not focus at all on what life was like in the USSR, nor does it address what will be the inevitable retorts to the above points in the form of anti-communist arguments, and this is why I think Blackshirts & Red should be an unmissable companion piece to this.
Of note, some of the incidental praise I had for B&R can also be found in this much older book here (1986 vs 1997): already Parenti talks of the need to preserve the environment and of the disastrous impact of capitalistic imperialism, already he says 'if the oceans die so do we' years before Sea Shepherd used it as slogan, things that felt all the more impressive when the 2004 Very Short Introduction to Global Warming I read recently was so much more skeptical in its tone.
I have a few qualms with this book. First of all, it adds a bunch to your reading list, because its sources often seem to warrant further exploration - and there are many, since he brushes on a variety of topics. Secondly, it is quite old now, and it makes me wish we had an updated version, and also a version that looks at the many other imperialistic forces, not just the US. Though I could venture to say the overarching themes are the same, the industrial and military supremacy of the USA gave it the most agency to be imperialist in the decolonization/neocolonial era, but it'd still be good to have an overview of what the other powers did.
I really wanted to give this 4 stars because I didn't like the whiff of fanboyism that comes from having 2/2 Parenti books at 5. And early on, I did think that the writing style of B&R is perhaps a bit smoother. Sometimes I also wish the book were a little more exhaustive about things. But I still read the thing in less than a week, and by the end I could no rate it any less. I am surprised to see this is seemingly so much less popular than some of his other major works - perhaps a matter of age, or of its low availability in print. 5/5
* this 'they' thing comes back quite often and could spark warnings of conspiracy theorization. He addresses this in the book. Read it!
https://www.youtube.com/watch?v=xP8Cz...
The book is a primer on US imperialism in the XXth century, occasionally venturing further into the past, and even more occasionally looking at other imperialist forces than the USA. The first half or so of the book looks at imperialism in general, its motivations, and modes of operation, with many examples that will be commonly unknown of the general public and certainly escaped my own historical education until I searched it myself or learned of it by happenstance (sometimes from Parenti himself). Invasions of Nicaragua, Grenada or early revolutionary Russia, financed overthrow of democratically elected leaders such as in Allende's Chile or in Greece, financing of counter-revolutionary forces in Mozambique, Cuba, El Salvador, etc, the books lists very many in different places in a somewhat frustratingly never exhaustive manner. And as ever, Parenti looks at these events through the lens of class analysis; he discusses how corporate interests (both of extractive industries, agrobusiness, and industrial-military complex) guide the exploitation of the Third World (I use his phrasing here), and how US interventionism has been characterized by a targeted suppression of governments or revolutions that seek to change the existing class structure.
Indeed he says, the US does not mind dictators and despots who let US capital flow into their country; and it intervenes when democratically elected leaders try to nationalize the land or resources previously exploited by US corporations. He also dispels some myths about foreign aid: when capital flows into a third world country as mentioned above, most of the dollars go to the benefit of the exploitative industries. He argues that these countries have been maldevelopped into poverty to the benefit of exploitative industry, the simplest example being the conversion funnelled by imperialist capital of agriculture feeding the people (beans and rice) to cash crops for export (coffee, sugar), leaving little, less arable land for people to feed themselves. Oftentimes, the condition of the common people improves, not regresses, when subjected to communist or socialist revolutions and 'regimes', unlike they would have us believe*.
The second half of the book focuses particularly on the Cold War era, and many of the fabricated myths of the evil deeds of the USSR. There is some overlap with Blackshirts and Reds here obviously, but there are lots of unique points made on both sides. I would argue that B&R is a good, more focused complement to this book. It focuses more on common anti-communist arguments (it's the same as nazism, stalinist atrocities - which Parenti does not deny!, communism just doesn't work), and is also an essential read in radical left literature. But I would say Sword & Dollar is actually a better entry point into Parenti's works, because it is wider in scope - unless the reader has a particular interest for communism only.
In this second half we learn that the Cold War really began in 1917 or before, as the US already was antagonistic towards the USSR and even invaded its territory well before the USSR could be a threat to the USA on any level; we learn about the artificial inflation of the military might of the USSR in US communications and media; we learn that the nuclear arms' race can be largely described as a chase, with the US unilaterally escalating to maintain superiority, and the USSR catching up; we learn about the many overtures for de-escalation that the USSR made and saw denied by the US, e.g. moratoria against nuclear testing or the reduction of the available arsenal. The book does not focus at all on what life was like in the USSR, nor does it address what will be the inevitable retorts to the above points in the form of anti-communist arguments, and this is why I think Blackshirts & Red should be an unmissable companion piece to this.
Of note, some of the incidental praise I had for B&R can also be found in this much older book here (1986 vs 1997): already Parenti talks of the need to preserve the environment and of the disastrous impact of capitalistic imperialism, already he says 'if the oceans die so do we' years before Sea Shepherd used it as slogan, things that felt all the more impressive when the 2004 Very Short Introduction to Global Warming I read recently was so much more skeptical in its tone.
I have a few qualms with this book. First of all, it adds a bunch to your reading list, because its sources often seem to warrant further exploration - and there are many, since he brushes on a variety of topics. Secondly, it is quite old now, and it makes me wish we had an updated version, and also a version that looks at the many other imperialistic forces, not just the US. Though I could venture to say the overarching themes are the same, the industrial and military supremacy of the USA gave it the most agency to be imperialist in the decolonization/neocolonial era, but it'd still be good to have an overview of what the other powers did.
I really wanted to give this 4 stars because I didn't like the whiff of fanboyism that comes from having 2/2 Parenti books at 5. And early on, I did think that the writing style of B&R is perhaps a bit smoother. Sometimes I also wish the book were a little more exhaustive about things. But I still read the thing in less than a week, and by the end I could no rate it any less. I am surprised to see this is seemingly so much less popular than some of his other major works - perhaps a matter of age, or of its low availability in print. 5/5
* this 'they' thing comes back quite often and could spark warnings of conspiracy theorization. He addresses this in the book. Read it!
This entire review has been hidden because of spoilers.
April 14, 2024
Parenti is the goat. Read it.
May 14, 2021
the first portion of this book is an absolutely indispensable primer on how u.s. capitalist imperialism operates, and made so many things clear in my mind that i was struggling to grasp the specifics of before. the second portion is a detailed analysis of the cold war nuclear arms race, which was highly relevant at the time it was written but less so now, however i still found it informational and interesting. definitely recommend this book
June 21, 2018
Wonderful commentary on the issues that surround moral obligations and economic gains. Seeing the juxtaposition between what we are told and what happens is something that the public should always be aware of.
December 9, 2022
Fifth book I've read from Parenti.
Nothing new if you've already read the four books that came before this.
Nonetheless, it is still a good synthesis about US imperialism, it's foreign politics, the ongoing class struggle and the truth about the Soviet Union (and socialism for that matter).
Nothing new if you've already read the four books that came before this.
Nonetheless, it is still a good synthesis about US imperialism, it's foreign politics, the ongoing class struggle and the truth about the Soviet Union (and socialism for that matter).
August 21, 2020
A stunning expose of Reagan-era foreign policy.
October 30, 2023
Parenti never fails to blow me away
March 7, 2024
I have read a lot of fiction in my day. I have read a lot of horror in my day. I have read of much depravity, torture, dehumanization of man, cruelty to fellow humans, and systemic injustice, in a fictional setting. Nothing I have ever read in fiction can compare to the realities described within The Sword and the Dollar. Everything and more that writers have imagined, but inflicted within the real world, on real living human beings.
It's a difficult book to read, because the realities are all laid out, and it's hard to look at. Capitalism, Imperialism, they go hand in hand. Capitalism cannot sustain itself without constant expansion, which requires Imperialism to maximize profits. This requires the subjugation of third world nations, the propping up of violent regimes sympathetic to corporate profit, and the suppression of foreign government sympathetic of individual and workers rights.
The CIA and by extension, the US Government as a whole, is the largest bringer of terror and human rights violations in history, all in the name of bringing Democracy to the world. It is a lie that is so ingrained into US education and culture, that most people cannot see past the brainwashing. Socialism and Communism are failed economic policies, but only because Capitalism cannot allow them to succeed, and Western Capitalist Democracies do everything within their power to prevent them from succeeding.
This is a hard read with facts that are difficult to face, but an important book nonetheless.
It's a difficult book to read, because the realities are all laid out, and it's hard to look at. Capitalism, Imperialism, they go hand in hand. Capitalism cannot sustain itself without constant expansion, which requires Imperialism to maximize profits. This requires the subjugation of third world nations, the propping up of violent regimes sympathetic to corporate profit, and the suppression of foreign government sympathetic of individual and workers rights.
The CIA and by extension, the US Government as a whole, is the largest bringer of terror and human rights violations in history, all in the name of bringing Democracy to the world. It is a lie that is so ingrained into US education and culture, that most people cannot see past the brainwashing. Socialism and Communism are failed economic policies, but only because Capitalism cannot allow them to succeed, and Western Capitalist Democracies do everything within their power to prevent them from succeeding.
This is a hard read with facts that are difficult to face, but an important book nonetheless.
April 17, 2013
Parenti gets no respect
Displaying 1 - 11 of 11 reviews