One by one, these governments came undone, and were forced into IMF tutelage (and national illegitimacy) by the careening oil prices, the debt imbroglio, and falling terms of trade. The last of these governments to fall were the Communist regimes of eastern Europe, which have now gone the way of other Third World countries. The second in the cascade of bifurcations is thus symbolized by 1989.
Immanuel WallersteinWe can tentatively credit capitalist civilization with a positive, if very geographically uneven, record in the struggle against disease.
Immanuel WallersteinProduction for sale in a market in which the object is to realize the maximum profit is the essential feature of a capitalist world-economy. In such a system production is constantly expanded as long as further production is profitable, and men constantly innovate new ways of producing things that will expand the profit margin.
Immanuel WallersteinWhen systems come to be far from points of equilibrium, they reach bifurcation points, wherein multiple, as opposed to unique, solutions, to instability become possible.
Immanuel WallersteinThat is why we may say that the historical development of capitalism has involved the thrust towards the commodification of everything.
Immanuel WallersteinIt was the French Revolution that served as the catalyst of this renovation. Its impact was to make the concept of popular sovereignty the new moral justification for the political system of historical capitalism.
Immanuel WallersteinOn the one hand, there has been a remarkable expansion of the total production and productivity of food production, and on the other hand an extraordinarily skewed distribution system, substituting medium-run threats for short-term threats for the majority of the world's population, particularly the 50 to 80 percent at the bottom.
Immanuel Wallerstein