Year: 1999
Type: article
Abstract: The word "capitalism" is typically applied to a very wide and diverse range of cases—from the United States to Japan, Russia, Brazil, or South Africa. We use the word in this way on the premise that, for all their diversities, all these cases have in common certain basic social forms and economic laws of motion, including a common tendency to crisis. And we talk about "global" capitalism on the premise that national capitalist economies are interconnected, that they are integrated in a global system driven by the same capitalist laws of motion, and that economic crises and prolonged downturns like the current one are not national in origin but are rooted in the general dynamics that drive the whole global economy and in the relations that bind all capitalist economies together.This article can also be found at the Monthly Review website, where most recent articles are published in full.Click here to purchase a PDF version of this article at the Monthly Review website.
Source: Monthly Review
Author: Ellen Meiksins Wood
Language: English
Subfield: Sociology and Political Science
Field: Social Sciences
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W2018738689