This critical analysis of long-term trends and recent developments in world systems examines such questions as: Will the cycles of boom and bust, peace and war of the past 500 years continue? Or have either long-term trends or recent changes so profoundly altered the structure of world systems that these cycles will end or take on a less destructive form? The noted international contributors to this volume examine the question of future dominance of the core global systems and include comprehensive discussions of the economic, political and military role of the Pacific Rim, Japan and the former Soviet Union.
Chapter 9: Twenty-Fifty: The Hegemonic Moment of Global Capitalism
Twenty-Fifty: The Hegemonic Moment of Global Capitalism
World capitalist accumulation has become truly globalized, being knit together by overarching global corporations which operate simultaneously with previous corporate social forms (national, multinational and transnational). All four corporate social forms of accumulation continue to interact with the national, regional and local social forms of accumulation (Borrego, 1981; Friedland, 1991; Goodman, 1994; Gordon, 1994). These global forms of capitalist accumulation, in turn, are reducing the power of the nation-state and its autonomy. Yet, the state apparatuses are still useful to the multilayered and articulated structures of global capitalist accumulation which is increasingly linked to the local and regional levels. In this new reality the state has been transformed from a developmentalist state ...