I have written repeatedly on the structural crisis in the world-system, most recently in New Left Review in 2010.2 So, I shall just summarize my position, without arguing it in detail. I shall state my position as a set of premises. Not everyone agrees with these premises, which are my picture of where we are at the present time. On the basis of this picture, I propose to speak to the question, where do we go from here?
Good analysis on the whole, but it suffers from ignorance of MMT that results in a lump of capital fallacy. However, the analysis is not actually marred by this, since it is a common perception driving the global dynamic.
Monthly Review — 2011, Volume 62, Issue 10 (March)
Structural Crisis in the World-System — Where Do We Go from Here?
Immanuel Wallerstein | Senior Research Scholar at Yale University
ht Jan Milch
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