Arrighi Workers

8/9/2019 Arrighi Workers

1/16


2/16

st ruggl ing to s tave of f dec l ine

in membership and

pol i t ica l

in f luence. f f my d iagnos is o f

t he

jo in t

c r i s is o f

o rgan i zed

labor and Communist

regimes

underestimated anything,

it was

the

speed

at

which

the

cr is is

was unfold ing

and the

extent

to which

it I{OULd

fesult

in

the

extinct ion

rather

than

transformation

of

ex is t ing

work ing-c l -ass organizat ions.

But

the very

pace

and

dest ruct iveness

of

the cr is is conf i rm

wi th

a vengeance

the

val id i ty of the content ion that the work ing-c lass organizat ions

that had been

"made"

in the early

twentieth centuly

were

in the

process

of

being

"unmade"

at

the

end

of

the century .

This does

not

mean that

the world labor

movement

has no

future. What

i t does

mean is that ,

in

order

to

be

at

al l

ef fect ive,

the wor ld

labor movement

in

the twent ieth- f i rs t

century

wi l l have

to develop

st rategies

and

st ructures

as

different

from those

of

the twentieth century

as

the latter

were

f rom

those of

the n ineteenth.

Wor ld

capi ta l ism

evol -ves

cont inual ly ,

and

so do

the condi t ions

under

which

the

work ing

c lasses

of

the wor ld

make

thei r own

his tory .

In order

to

grasp

how

these condi t ions are evolv ing, w€ must

f i rs t of

a l l d ispel

two misconcept ions

concerning

the

present

cr is is

of

wor ld l -abor .

The f i rs t

misconcept ion

is

that

the

cr is is

is due

pr imar i ly

ei ther

to

a

decl - ine

in

the dispos i t ion

of

workers

to

struggle

to

protect

or

improve

their

working

and

l iv ing

condi t ions,

or

to

the ef fects

of

the re locat ion

of

indust r ia l

act iv i t ies

f rom

high

income

to lower

income

count r ies .

The

second

misconcept ion

is that

the cr is is

demonst rates

the

fai lure of

the

wor ld

labor

movement

as inst i tuted

in

the

f i rs t

hal f of

the

twent ieth century

to at ta in

i ts

object ives,

as

wel1

as

the capaci ty

of

wor ld capi ta l ism

to overcome

indef in i te ly

i ts

l imi ts

and cont radic t ions.

The

f irst

misconcept ion

is based

on

a nal row

focus on

the

labor

movement

in core count r ies ,

and a

lack of

at tent ion

to

the

wider

and longer- term

ef fects

of

the re locat ion

of

indust r ia l

ac t i v i t ies .

Cap i t a l ,

US cap i ta l

i n

par t i cu lar ,

has

been

relocat ing

i ts act j -v i t ies

to lower

income

count r ies

throughout

the twent ieth

century .

US corporat ions

became

transnat ional

a lmost

as

soon as they

had completed

thei r

cont inent -wide

domestic

integration

at the turn of

the century;

and by

1944 US

direct

investment

abroad amounted

to 7

percent

of

US GNP,

the

same

percentage

as in the late

1960s

and a s1i9ht1y

higher

percentage

than today

(2) .

These

relocat ions

dj -d contain,

and

at

t imes ro l led back,

the bargain ing

power

and dispos i t ion

to

st ruggle of the US work ing c lass. But these domest ic ef fects

were more

than counterbalanced

on

a wor ld

scale by

the

st rengthening

of

the bargain ing

power

and dispos i t ion

to

st ruggle

of

the work ing c lasses

of

the count r ies

to which

indust r ia l

ac t i v i t ies were

re loca ted

(3 ) .

More

general ly ,

new wor ldwide data on

labor

unrest based

on

2


3/16


4/16

of capi ta l ism' r

- -began

announcing

i ts own

matur i ty by

turning

into

the f i nanc ia l expans ion

o f

t he 1970s and 1980s .

I n t he

l97Qs ,

the

expansion of f inanc ia l act iv i t ies was

assoc iated wi th,

and in

many ways contributed tor €rrr

expansion of capital

f lows

from high

ta lower ineome

count r ies .

fn

the L980s/

cross-border

borrowing

and lending

cont j -nued

to

grow

exponent ia l ly -

- the

stock

of

internat ional

bank

lending

r is ing f rom

4

per

cent of

the

tota l

GDP qf al - l OECD count r ies in l -980 to 44 per cent in L99I . But

capi ta l f lows f rom high to lower income count r ies ,

af ter

cont ract ing

sharply in the

ear ly

1-980s, began to

recover only

towards the

end of

the

decade

(8) .

The ul t imate and

pr iv i leged*

destination of the capital withdrawn

from trade and

production

in

core

locat ions, in

other

words, has not

been

lower

income

count r ies but the

"hidden

abodes" of

f inanc ia l speculat ion

that

connect h igh income count r ies

to

one

another . I t was th is

wi thdrawal , rather than re locat ion, that in

the 1980s

prec ip i tated

the

cr is is

of wor ld labor .

As

prev i -ous ly

ment ioned, th is

cr is is

should not be

misconst rued as ev idence in support of the v iew that the wor ld

labor movement as ins t i tuted in

the f i rs t hal f of

the twent ieth

century fa i led to

at ta in i ts

object ives,

or of

the v iew that

wor ld

capi ta l ism can

overcome

indef in i te ly i ts

l imi ts and

cont radic t ions.

Let us begin by

not ic ing that

powerfu l

work ing-

alass organizat ions of

the Trade Unionis t , Soc ia l

Democrat ic

and

Communis t

var iet i -es establ ished

themselves in

the f i rs t

hal f

of

the twent ieth century

as key inst i tut ions of wor ld

soc iety

under

condi t ions of

a lmost

uninterrupted warfare or

preparat ion

for war

among

capi ta l is t

s tates. The establ ishment

of Communis t

revolut ion as a force

in

wor ld

pol i t ics ,

f i rst

in Russ ia

and then

in

China,

was of course

a

di rect

resul t of

the ravages of

the two

Wor ld Wars.

But

even

in core capi ta l is t

count r ies ,

the

greatest

waves of class struggle occurred towards the end and immediately

a f t e r

t he two

Wor ld Wars

(9 ) .

The US Cold War wor ld order ,

and the

great

expansion of

world

trade and

production

that

occurred

under

the auspices of

that order/ were

thoroughly shaped

by

this

joint

advance of

organized

labor in

core eount r ies

and of Communis t

revolut ion in

semiper ipheral and

per j -pheral

count r ies .

By the end of

the

Second Wor ld War

th is

jo int

advance was widely

perceived

as

const i tut ing

a

fundamental

threat for the very surv ival of wor ld

capi ta l ism. I f the advance was not

contained

and eventual ly

reversed, the

only

quest ion

that seemed to remain

open

was not

whether world capital ism would survive

but by

what

combination of

reforms and revolut ions i t would die. The US " invent ion" of the

CoId War was

pr imar i ly

a response to th is s i tuat ion

of emergency

fo r wor l d cap i t a l i sm.

Under the CoId War worl-d order the advances of the world

labor movement

of

the

first half of the twentieth century were

indeed

contained and, eventual ly / reversed but only through a


5/16


6/16

rou t j - n i zed ;

and a f t e r a b r i e f

rev iva l

in

t he l a t e

l -960s ,

i t

s tar ted

to

dec l - ine

prec ip i tuous ly .

By no

st retch of

the imiginat ion,

howeverr

cdr l

th is

miraeulous

reeovery

of

wor ld

capi ta l ism

be

const rued

as

a fa i lure

;?- t [e- ;o i ro

rabor-movement ,

and even

]ess

as

a rast ing

resolut ion

of

the

cont radic t ions

of

capi ta l ism.

On

the

cont rary ,

the recovery of wor ld capi ta l ism was based pr imar i ly , not on the

negat ion,

but

on

the

part ia l

real izat ion

by

wor ld

capi ta l ism

i tsel f of

the object ives

of

the wor ld

labor

movement

of

the

preceding half century.

This

accomodation

does

demonstrate

the

ext raordinary

adaptabi l i ty

of

wor ld

capi ta l ism

as

his tor ical

soc ia l

system.

gut

the onset

of

a new

f inanc ia l

expansion

around

1-g7O

shows

that

th is

adaptabi l i ty

has

l imi ts ,

and

that

the

approaching

of

these

l imi ts

br ings

back

to

the

fore

the

cr is is

tendencies

of

capi ta l ism

in o ld

and

new forms.

I I

F inanc ia l

expansions

are

moments

of cr is is

and

fundamental

reorganizat ion

of

the capi ta l is t

wor ld-economy.

As in

al l

the

f inanc ia l

expansions

of

prev ious

centur ies,

the dr iv ing

force

behind

the

piesent

divers ion

of

capi ta l

f rom

the

purchase and

sale

of commodi t ies

( inc luding

wage

labor ,

p lant

and

equipment)

to borrowing,

lending

and

speculat ion

has been

a

major

intens i f icat ion

of

intercapi ta l is t

compet i t ion,

i tsel f

a

consequence

of

the

preceding

expansion

of wor ld

t rade

and

product ion ( l -2) .

As o ld

and new enterpr ises

invested

a

growing

mass of

capi ta l

in the

purchase

and sale

of commodi t ies ,

they

brought

down

prof i t

margins

in

thei r

respect ive

l ines

of

bus iness.

And

as

an increas ing

number of

enterpr ises

sought

to

counter diminishing returns by divers i fy ing thei r act iv i t ies

across

locat ions

and

l ines of bus iness/

they

invaded one

another 's

market

niches

and thereby

fur ther

intens i f ied

compet i t ive

pressures

and

uncer ta inty

in

a1l branches

of

t rade

and

product ion.

Under

these

c i rcumstances,

i t

is only

natural

that

a

growing

mass of

capital

should

be

withdrawn

from

trade

and

production

and

held l iquid

to

avoj -d

the r isks

and t roubles

of

investment

in an

increas ingly

compet i t ive

and

uncer ta in

bus iness

envi ronment .

Th is

l a rge and

grow ing

mass o f

surp lus cap i ta l - -cap i - ta l ,

t ha t

i s ,

that cannot

be

reinvested

prof i tably

in

the

purchase

and sale of

commodi t ies - - in

i t se l f

c rea tes

a l l

k i nds o f

p ro f i t ab le

opportuni t ies for f inanc ia l intermediar ies to borrow, 1end, and

specu la te .

H is tor ica l l y ,

however ,

t he f u11

f l ou r i sh ing

o f

f inanc i -a l

expansions,

has always been

assoc iated

wi th

an

intens i f icat ion

of

inters tate

compet i t ion

for the capi ta l

that

was being

withdrawn

from trade

and

production. As competit ion

in

commodity

markets

escalated,

governments

tended

to step

into the

struggle

and to compete

with

one another

for the capital

needed


7/16

to overpower

r ivals ,

most ly ,

though

not

exc lus ively ,

through

an

escalat ion

in

the

armament

race.

This

compet i t ion,

in

turn,

mul t ip l ied

opportuni t ies

to

prof i t

f rom

the mobi l izat ion

of

surplus

capi ta l

in borrowing,

lending

and

speculat ion.

This

pat tern

can

be

clear ly

recognized

in

the

present

as

in

past

f inan-c ia l

expansions.

Throughout

the

1-970s,

surplus

capi ta l

ias channeled

in

di rect ions-- lending

to semiper ipheral and

per ipheral count r ies

and

speculat ion

in currency

markets-- that

fur ther

increased

compet i t ive

pressures and

uncer ta inty

in

wor ld

t rade

and

product ion wi thout

increas ing

returns

in

f inanc ia l

markets .

ALundant

and cheap

credi t

encouraged

semiper ipheral

and

per ipheral - count r ies

to

step

up

thei r

indust r ia l izat ion

and

i rodein izat ion

ef for ts

and,

Lherefore,

to compete

over

markets

and

resources

(most

notably ,

o j - I )

that

had

prev ious ly been

the

pr iv i leged

preserve

of

core

count r ies .

Speculat ion

in

currency

i rarkets- ,

for

i ts

par t ,

f i rs t

undermined,

and

then

dest royed

the

system

of

f ixed

exchange

rates

that

had contributed

to

the

s lab i l i t y

o f

wor ld

economic

cond i t i ons

in

the

1950s

and

l -960s .

This fur lher increase in compet i t ive

pressures and

uncer ta inty

strengthened

the

overall

tendency

of

capital

to

withdraw

from

trade

and

product ion;

i t w idened

the disequi l ibr ium

between

a

rapid ly

expanding

suppty

and

a s tagnant

demand

for

surplus

c .p i t t f ;

ana

i t depressed

re turns

in

f i nanc ia l

markets

(13 ) .

I t was

only

af ter

1-979

hat

the US

government ,

f i rs t

under

Carter ,

and

then

wi th

much

greater

determinat ion

under

Reagan,

took

steps

that created

highly

favorabLe

demand

condit ions

for

the

ongoing

f inanc ia l

expansion.

These

steps

were

taken

in

the

contex i

of

a major

escalat ion

of

the

ideological

s t ruggle

and

armament

race

wit t r

the USSR--what

Fred

Hal l iday

has

cal led

the

Second

Cold

War.

Responding

to the

ser ious

deter iorat ion

of

US

power and prest ige thet ensued f rom mi l i tary defeat in Indochina

ind dip loml t ic

defeat

in

l ran,

the

US

government came

to the

rescue

of

a bat tered

dol1ar

by

aggress ively

bidding

up real

interest

rates

in wor ld

f inanc ia l

markets .

I t

then

used

the

seemingly

unl imi ted

credi t

that

i t

gained

through

these

measures

to escil l te

the armament

race

weII

beyond

what

the

the

USSR

could

af ford

and,

s imul taneously ,

to cut

taxes

to win

electoral

support

for

the

new

ant i -Communis t

crusade.

The

resul t

was

an increase

of

his tor ic

propor t ions

in the

US

nat ional

debt ,

which

prov ided

domest ic

and-

foreign

surplus

capi ta l

wi th

a

far more

secure

and

remunerat ive

out let

than

i t had

been

able

to

f ind

s ince

the

ou t se t

o f

t he

f i nanc ia l

expans ion

(14 ) .

An escalat ion in the inters tate power st ruggle thus played

as cr i t ica l

a ro le

in

sustain ing

the current

f inanc ia l

expansion

as

i t had

in

the

past .

To be

sure,

in

th is

as in

other

respects

the dynamic

of

the

present

f inanc ia l

expansion

diverges

s ign i i i can t l y

f rom

pas t

exper ience,

as we

sha l l

see.

B u t be fo re

we turn

to these di f ferences/

we

must

deal

wi th

two

more

analogies

that bear

di rect ly

on our

at tempt

to

understand

the


8/16

main thrust

of

the

present

rest ructur ing

of

wor ld capi ta l ism.

Both analogies re late to the

fact that

a l l

past

f inanc ia l

expans ions

have not

j us t

been

the

"c los ing

season" o f

a ma jo r

material

expansion

of

the capital ist

worrd-econony'

rhe

in tens i f icat ion of

intercapi ta l is t compet i t ion

that under lay

the

f inanc ia l expansions brought

about a lso epochal

changes

in

the

spat ia l conf igurat ion and in the organizat ional s t ructure of

processes

of capi ta l

accumulat ion on

a wor ld

scale--changes

which

prepared

the

ground

for , and in

due

course

t rans lated

into, a new

phase

of expansion

of wor ld

t rade and

product ion.

Epochal

changes of

this kind

have always

taken long

periods

of

t ime

to

complete--as

a ru le/ more

than hal f a century

f rom the beginning

of

the f inanc ia l expansions.

In i t ia l ly ,

the

prev ious ly

dominant

center

always had the

means to turn to its

advantage the

in tens i f i ca t ion o f

in tercap i ta l i s t compet i t ion .

As Hal ford

MacK inder

pu t

i t i n 1899 / comment i ng on

Br i ta in ' s

re la t i ve

dec l i ne

in i ndus t r i a l

compet i t i veness ,

"we ' I the

Br i t i sh ]

are

essent ia l ly

the

people

wi th

capi ta l ,

and those who have capi ta l

a lways share

in the act iv i ty of bra ins

and muscles of

other

coun t r i es "

(15 ) .

Over

t ime, however, even

" the

greatest

ownership of

capi ta l "

did

not

help

the

previously

dominant

centers

in

meeting

the costs

and in compensat ing

for the d isrupt ions

of

the escalat ing

compet i t ive

st ruggle,

the benef i ts of

which accrued

dispropor t ionately

to newly

emerging

centers .

Thus,

Br i ta in 's

heavy borrowing

from

the

United

States during

the

First World

War

init iated

that

change

of

guard

between

the two countries

at the

commanding

heights of

the capi ta l is t

wor ld-economy

that

was

completed

by

more borrowing during

the Second World

War.

A l though

the

paral le l

should not be

pushed

too

far , something

s imi lar seems to have happened in the 1980s. For a l l i ts

spectacular

resul ts in ref lat ing

the US eeonomy

and in

bankrupt ing

the

USSR,

the his tor ic

inf lat ion of

the US nat ional

debt

during

the

Second Cold

War may well

have sent

the

United

States down

a

path

of dec l ine

analogrous

to Br i ta in 's .

As Kevin

Phi l l i ps notes ,

"Former ly

t he wor ld ' s

l ead ing

cred i to r ,

t he

Uni ted States

had

borrowed

enough money overseas--shades

of

191-4-

45 B r i t a i n - - t o become

the wor ld ' s l ead ing

deb to r '

( 16 ) .

Equal ly

important , the

dec l ine of US

f inanc ia l

supremacy has

been accompanied by

the spectacular r ise of the East

As ian

reg ion , no t

j us t

as t he ma in

"con ta ine r

o f wor ld

l iqu id i t y " ,

bu t

as the

"workshop

o f t he wor ld " as we l l .

B r i ta in ' s v ic tory in

both Wor1d Wars, far f rom s lowing down, accelerated the ongoing

shi f t of the

geopol i t ica l

center of wor ld-sca1e

processes

of

capital

accumulation from

Northwestern

Europe to North America.

So, we should not be surpr ised Lf , in ret rospect ,

the

US v ic tory

in the

Second Cold War turned out to have sealed a s imi lar shi f t

f rom

North Amer ica

to

East As ia.


9/16


10/16


11/16


12/16

A f i rs t

answer

to these

quest ions

is that i t

is s t i l1 too

ear ly

to te1I .

The

f i rs t

twenty- f ive

years

of the late-

nineteenth

century f inanc ia l

expansion were

character ized

by

an

ext reme instabi l i ty

in work ing-c1ass

organizat ion

and

by

many

nofe defeatS

than

victories

for

the

workinq

classes

of

most

countr ies. I t took

another twenty-f ive

years

before

the

ideological and

organizat ional

contours of

the

wor ld labor

movement beqan to crysta l l ize and be discernib le, and yet another

twenty-f ive

before that movement became

powerful

enough

to impose

some

of

i ts

object ives

on

wor ld capi ta l ism

(22) .

There is no

reason,

of course, for supposing that the

wor ld

labor movement of

the twent ieth- f i rs t

century wi l l develop

at the same

pace

and

along

the same t ra jectory as i ts

predecessor .

But

whether i t

is

actual ly

emerging, what form i t is

going

to take, and how

ef fect ive i t is

going

to

be-

- these

are

issues that cannot be

decided on the

basis of

the tendencies

of

the 1ast ,

or even of

the nex t

,

0 -20

years .

I t is nonetheless not too ear ly to te l l that the condi t ions

under which the workers

of

the world wil l make

their

own

history

in the twenty- f i rs t century wi l l d i f fer radical ly f rom the

condi t ions of

the

past

century .

To

be

sure, the

present

f inanc ia l

expansion,

l ike the

preceding

one/ marks

the

beginning

of

a t rans i t ion of wor ld capi ta l ism

from

one

kind

of

spat ia l

conf igurat ion

and

organizat ional

s t ructure to another .

But

each

t rans i t ion has

pecul iar i t ies

of

i ts

own,

which make

the

condi t ions of

work ing-c lass s t ruggles d i f ferent

f rom what

they

had been dur ing the

preceding

t rans i t ion.

A f i rs t d i f ference is

that the

changing

spat ia l

conf igurat ion of

the

capi ta l is t

wor ld-economy can be expected

to

shi f t

the

epicenter of

work ing-c lass s t ruggles

towards

per ipheral

and semiper ipheral count r ies in general and towards East Asia in

par t icular .

As

prev ious ly

noted, the not ion

that the wor ld labor

movement has

been

weakened

by

a massive re locat ion of industr ia l

act iv i t ies f rom high to 1ow and middle income count r ies

is a

myth. Had such a mass ive re locat ion actual ly

occurred,

the

chances

are that the world labor movement would have already been

rev i ta l ized.

The main reason why i t has not is

that in the 1980s

the

pr imary

dest inat ion of the f l ight of capi ta l have not been

low and middle

income count r ies but ext raterr i tor ia l f inanc ia l

markets .

The main except ion to th is

general

tendency has

been

East

As ia, where the f inanc ia l

expansion has been accompanied

by

a

rapid growth of t rade and product ion. Should th is tendency

cont inue, there

can be l i t t Ie

doubt

that th is region,

China

inc luded,

wi l l w i tness the format ion

of

a

v igorous

labor

movement.

And to the

extent

that the material

expansion

of

the

East

As ian regional

economy wi l l

develop

suf f ic ient

momentum to

t rans late into

a new mater ia l

expansion of the

ent i re wor ld-

economy, the

chances

are that

this vigorous labor movement

wil l

1,2


13/16


14/16

disentangled

f rom

the

inters tate

power

st ruggle. There is

of

course

no

guarantee

that

th is

dj -sentanglement

wi l l t rans late into

a

more

internat ional is t

rather

than

" t r ibal is t "

d ispos i t ion

among

the

workers

of the

wor ld.

The

invent ion

of new/

or

the

COnSOlidat iOn

Of OId,

ninaqined

communit ies"

aTons

ethnic

or

re l ig ious l ines

is no

doubt an

easier response to the

intens j - f icat ion

of wor ld market

compet i t i ton

and

state

breakdowns

than the format ion of c lass sol idar i ty across borders or cul tura l

d iv ides. As the

exper ience

of

the former

Yugoslav ia

i l lus t rates

t ragical ly ,

however,

the

eas ier response may wel l be a cure much

worse than

the

disease.

The

Croat ian

and

Serb mi l i t ias

may wel l

pref igure

the

predominant

form

of

proleta: : ian

organizat ion

of

the twent ieth-

f i rs t

century . But there

is at least

an

equal chance

that the

predominant

form wi l l

be

pref igured

by the k ind

of

work ing-c Iass

cooperat ion that is

being organized

s lowly and loosely f rom

below

across the

US-Mexican border .

Whether the now

weaker

wind

of

internat ional ism

wi l l eventual ly

prevai l

over

the wind

of

" t r ibal ism"

is a

quest ion

ul t imately

in the

hands of

the

workers

of the wor ld themselves.

ENDNOTES

(1)

Giovanni Arr ighi ,

"Marx is t

Century ,

Amer ican

Century :

The

Making and Remaking

of

the

World Labor Movement.

"

New Left

Rev iew , L79 , l - 990 ,

p .55 .

(2)

Stephen Hymer,

"The

Mul t inat ional

Corporat ion

and the Law of

Uneven Deve lopment .

"

In J .N. Bha gwat i ,

€d . ,

Economic and Wor ld

Order

(New

York : Macmi l lan ,

7972)

p .

L2L; Mi ra Wi lk ins , The

Emerqence of Mul t inat ional Enterpr ise (Cambr idge: Cambr idge

Univers i t y P ress , 1970)

pp.

201" -2 ; E than Kaps te in ,

"We

Are

Us :

The Myth

of

t he Mu l t i na t i ona l . "

The Nat iona l In teres t , Win ter

1 ,991 , / 92 ,

p .57 .

(3 )

G iovann i A r r i gh i and

Capi ta l Migrat ion: The

Un

Histor ical

Perspect ive.

"

Capi ta l is t Wor ld

-

Economv

Bever ly

S i lver ,

"Labor

Movements and

i ted

States and

Western

Europe in

Wor ld

In

C .

B ergqu i s t ,

ed . , Labor i n t he

(Bever ly

H i l l s :

S age L984) .

(4 )

Bever ly

J . S i l ver ,

"Wor ld-Sca le

Pat terns

of

Labor -Cap i t a l

Conf l ic t : Labor

Unrest , Long

Waves,

and

Cycles of Hegemony.

Rev iew

(Fernand

B raude l

Cen te r ) , 18 , I ,

1995 ,

pp .L77-9 .

(5 )

"Wor1d-S ca1e

Pat terns

o f Labor -Cap i t a l

Conf l i c t ,

"

p .

1 -82 .

(5)

Giovanni Arr ighi , The Lonq

Twent ieth

Centurv . Monev, Power,

and t he

Or ig ins

of Our T imes

(London :

V erso , 1 -994) .

(7 )

Fernand

Braude l , The Perspec t ive

of

the

Wor ld

(New

Y ork :

L4


15/16


16/16

(20 )

A r r i gh i , T h e L o n o T w e n t i e t h C e n t r r r v -

pp .

127

7

4 , 239-300 .

(2 I )

Cf . Gary Hami l ton ,

"C iv i l i za t ions

and t he

Organ i za t i on o f

Economies . "

In

N. Smelser and

R. Swedberg/

eds . / The Handbook o f

Eeonomie

Socio loqv

(Pr inceton,

NJ:

Pr j -nceton

univers i tv

Press,

: - .994)

pp . l - 98 -9 ;

A r r i gh i , The Lonq Twen t i e t h

Centurv ,

E p i l ogue .

(22 ) C f . A r r i gh i ,

"Marx i s t

Cen tu ry , A mer i can Cen tu ry , " pp .24 -47 .

(23 )

On

the

" i n t e rna l i

and Michae l J .

P iore ,

zat ion"

of

markets

see

Peter

B. Doer inger

Internal

Labor

Markets

and

Manpower

A n a l v s i s

( L e x i n g t o n , M A :

D . C .

H e a t h

a n d C o m p a n f ,

L 9 7 L )

a n d

Arr igh i ,

The

Lonq Twen t i e t h

Century ,

PP.

239-42 ,

287-9

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Arrighi Workers