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-[[Immanuel Wallerstein]] traces the rise of the [[capitalism|capitalist]] world-economy from the "long" 16th century (c. 1450–1640). The rise of capitalism, in his view, was an accidental outcome of the protracted crisis of feudalism (c. 1290–1450). Europe ([[Western world|the West]]) used its advantages and gained control over most of the world economy and presided over the development and spread of [[industrialization]] and capitalist economy, indirectly resulting in [[international inequality|unequal development]]." --Sholem Stein+"[[Immanuel Wallerstein]] traces the rise of the [[capitalism|capitalist]] world-economy from the "long" 16th century (c. 1450–1640). The rise of capitalism, in his view, was an accidental outcome of the protracted crisis of feudalism (c. 1290–1450). Europe ([[Western world|the West]]) used its advantages and gained control over most of the world economy and presided over the development and spread of [[industrialization]] and capitalist economy, indirectly resulting in [[international inequality|unequal development]]." --Sholem Stein
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Revision as of 09:41, 10 September 2019

"Immanuel Wallerstein traces the rise of the capitalist world-economy from the "long" 16th century (c. 1450–1640). The rise of capitalism, in his view, was an accidental outcome of the protracted crisis of feudalism (c. 1290–1450). Europe (the West) used its advantages and gained control over most of the world economy and presided over the development and spread of industrialization and capitalist economy, indirectly resulting in unequal development." --Sholem Stein


"The certainties of the post-1945 era are now over, in particular two. (1) The United States dominated the capitalist world-economy, being the most efficient. This is no longer true. (2) The USA and the USSR were engaged in an all-encompassing 'Cold War,'which shaped all interstate relations. The Cold War is no more. Indeed, the USSR is no more. To understand what this portends, we have three relevant pasts: the past of the US hegemonic era, 1945-90; the past of liberalism as the dominant ideology of the capitalist world-system, 1789-1989; the past of capitalism as an historical system, which started in 1450 and will perhaps be no more by 2050."" --incipit "The World-System after the Cold War" (1993) by Immanuel Wallerstein

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