A second variety concentrated on presumed major transformations of the capitalist system as of some recent point in time, in which the whole earlier point of time served as a mythologized foil against which to treat the empirical reality of the present.

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.

What is different in capitalist civilization has been two things. First, the process of meritocracy has been proclaimed as an official virtue instead of being merely a de facto reality. The culture has been different. And secondly, the percentage of the world's population for whom such ascent was possible has gone up. But even though it has grown up, meritocratic ascent remains very much the attribute of a minority.

Are there still other possibilities? Of course there are. What is important to recognize is that all three historical options are really there, and the choice will depend on our collective world behavior over the next fifty years. Whichever option is chosen, it will not be the end of history, but in a real sense its beginning. The human social world is still very young in cosmological time. In 2050 or 2100, when we look back at capitalist civilization, what will we think?

Historical capitalism is a materialist civilization.

Wars between states and people seem to have existed under all historical systems for as long as we have some recorded evidence. War is quite clearly not a phenomenon particular to the modern world-system. On the other hand, once again the technological achievements of capitalist civilization serve as much ill as good. One bomb in Hiroshima killed more people than whole wars in pre-modern times. Alexander the Great in his whole sweep of the Middle East could not compare in destructiveness to the impact of the Gulf War on Iraq and Kuwait.

The break from the supposedly culturally-narrow religious bases of knowledge in favor of supposedly trans-cultural scientific bases of knowledge served as the self-justification of a particularly pernicious form of cultural imperialism.