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The Winding Paths of Capital
The author of Long Twentieth Century and Adam Smith in Beijing, interviewed by David Harvey, on dispossession and development, capitalist crises, China’s future. The political education of a teenage factory-manager, via African liberation struggles and autonomia operaia; and influences—Braudel, Gramsci, Smith, Marx—in Arrighi’s work.
In the conclusion to his major two-part essay on the new US imperialism, Giovanni Arrighi situates the contradictions of the current American ‘spatial fix’ for the problems of overaccumulation in the context of a longue durée of systemic cycles. Have Washington’s attempts to secure its world role through the invasion of Iraq instead hastened the rise of China?
In the first part of a major engagement with David Harvey’s New Imperialism, Giovanni Arrighi sets out the interlocking dynamics, spatial and temporal, of capitalist development and imperialism. Should US difficulties in Iraq and the ballooning current-account deficit be read as symptoms of a deeper-lying crisis, a shift from hegemony to dominance presaging the rise of a new East Asian challenger?
The Social and Political Economy of Global Turbulence
In a landmark engagement with Robert Brenner’s account of the long downturn of the world economy since the 70s, Giovanni Arrighi lays out a social and political economy of the roles of labour unrest, national liberation and corporate financialization in the crisis of the post-war order, and the prospects for a militarized US hegemony today.
Financial Expansions in World Historical Perspective: A Reply to Robert Pollin
In his review of The Long Twentieth Century, Robert Pollin advances three surprising criticisms.footnote1 All three criticisms concern what I have called ‘systemic cycles of accumulation’. These cycles consist of two phases: a phase of material expansion, in which profits come primarily from investments in the purchase, transformation, and sale . . . read more
World Income Inequalities and the Future of Socialism
The thesis of this article is that the great political upheavals of our days—from Eastern Europe and the ussr to the Middle East—originate in a radical transformation of the social structure of the world-economy combined with a persistent, indeed deepening, income inequality among the regions and political jurisdictions into which . . . read more
Marxist Century, American Century: The Making and Remaking of the World Labour Movement
In the closing paragraphs of the first section of the Manifesto of the Communist Party, Marx and Engels advance two distinct arguments why the rule of the bourgeoisie will come to an end.footnote* On the one hand, the bourgeoisie ‘is unfit to rule because it is incompetent to assure an . . . read more
Towards a Theory of Capitalist Crisis
The history of capitalism shows us that the periodic recurrence of crises is not a function of the working class’s strength or combativity, of ‘mistakes’ in economic management, or even of ‘parasitism’ in society.footnote* The tendency towards crisis is indissolubly linked to the existence of capitalism itself. It is a . . . read more
The Political Economy of Rhodesia
It is one of the purposes of this article to test the validity of the assumption of an interaction between economic base and superstructure in explaining the historical development of Rhodesia, and in interpreting recent political events there. To this end the economic base of the Rhodesian social system before . . . read more