Documentos de Académico
Documentos de Profesional
Documentos de Cultura
by Immanuel Wallerstein
Crisis. This was not its original title. We had proposed the title,
Crisis, What Crisis? The U.S. publisher did not like that title,
us on the topic.
2008 that the tone has turned dour again, and the word "crisis" has
resurfaced, this time more sharply than in the 1970s, but just as
2
relevant.
cycle and the overall economic cycle each began its downturn. The
period 1945 to circa 1970 had been the moment of the height of
economy had ever known in its history. The French refer to that
one must bear in mind two things. All systems have cyclical
rhythms. It is the way they live, the way they deal with the
functions. There are two key issues: how producers make profit; how
states guarantee the world order within which producers may make
profits are possible only if the producer can sell the product for
from seller to seller until he finds one who will sell at a penny
production.
the seller can demand any price, as long as he does not go beyond
these products that great profits are made and large amounts of
others are able to enter the market, and the degree of competition
lies can be created and a new A-phase can begin. How this has been
exists some kind of relative world order. While world wars offer
fact been done only three times in several hundred years: first by
with other potential hegemonic powers. It has been won each time up
its principal rival. Again how this is done is not our topic here.
The key point is that once a given state finally achieves hegemony,
geopolitical power.
The problem for the hegemonic power is the same as the problem
countries begins to rise. And as the others rise, they are less
irreversible.
however that has occurred only once in the history of the modern
movements of the world-system, the so-called Old Left. The Old Left
the first half of the twentieth century. The Old Left movements
in the period from 1945 to 1968 - exactly the moment of both the
production, one of the factors that led to the end of the quasi-
over the succeeding three years - and leave the future to the gods.
was an essential objective. The United States had to weigh the cost
Hence, by the middle of the 1960s, one could say that the Old
these movements, and doubt that their coming to power made much
sense of deep fear that pervaded the world's wealthier and more
destructive egalitarianism.
pervaded the analyses and the rhetoric of those who engaged in the
triumphalism. The first theme was that the U.S. hegemonic power had
overstretched and was vulnerable. The Vietnam war was the model
example, albeit not the only one. The Tet offensive was taken to be
the death knell of the U.S. military operation. As part of the new
The second theme was that the Old Left movements - of all
All three varieties had built their strategy on the so-called two-
step strategy - first take state power, then change the world. The
militants said in effect that you have taken state power but have
must replace you with new movements and new strategies. And we
The third theme was that the Old Left movements had ignored
after the main Old Left parties had achieved their historic
urgent present, not the deferred future. In many ways, the Black
reduced to being simply one alternative among others. And the Old
stagnation and the collapse of the Old Left movements (and their
objectives were to reverse all the gains of the lower strata during
the Kondratieff A-period. The world right sought to reduce all the
versions, and to slow down the decline of U.S. power in the world-
illusion!
The difference this time has been the scale of the speculation
and the socialist bloc in the 1970s, to the junk bonds of large
trying one last bubble - the bailouts of the banks and the printing
of dollars.
The depression into which the world has fallen will continue
now for quite a while and go quite deep. It will destroy the last
workers and the middle strata whose savings and pensions disappear.
and may assuage momentarily the pain of ordinary people. But they
entering a gridlock of the system, from which the world will find
top end of the capitalist system can never be too large, for this
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into the discussion the other element, the secular trends of the
are how they operate on a continuing basis, how they breathe if you
will. There are innumerable ups and downs, some more fundamental
than others. But the B-phases never end at the same point as where
pay for renewing the upward phase of the cycles. The system has
moving equilibrium.
for all capitalists is how to produce products for prices that are
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lower, preferably far lower, than the prices for which they can be
sold.
it is not too hard to demonstrate that all three costs have been
this is so, and then resume briefly why there are limits to the
elasticity of demand.
wage areas in the B-period is the main remedy. When there is later
increases. Over 500 years, this repeated process has exhausted the
of the world-system.
the personnel bill. And two, the political dangers that result from
stratum who can be both political allies for the ruling stratum and
to not pay the full bill for the inputs they use. There are three
main costs one may externalize - handling toxic waste, renewing raw
authorities.
was normally and almost always simply dumped in the public domain.
What happened is that the world has been running out of such vacant
work force. Suddenly, the health consequences and costs have become
control.
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we are worried about who uses what, for what purposes, and who pays
the bill.
Products produced for sale on the world market need transport and
really matter to whom the taxes go. They are a cost. The size of
has expanded. However, the major impetus for increased taxation has
politics.
expanded in two ways over the past 200 years: in the levels of
demands have been made. The welfare state is good shorthand for
of an A-B ratchet, over 500 years. The most dramatic increases have
been in the post-1945 period. Cannot the prices for which products
lives far beyond their real income, there comes a point where
someone has to stop, and fairly quickly everyone feels they have to
stop.
the "normal" crash, the real rise in costs of production, and the
that Humpty Dumpty has fallen off the wall, and the pieces can no
longer be put together again. The system is very, very far from
structural crisis.
capitalist system mend itself, and renew its forward thrust? The
using its old rules. They are not really wrong. The system does
continue to operate, using its old rules. But now, using the old
another. One can say that a decision has been made, even if the use
polarizing. There are, no doubt, many forms this could take, and
and "the spirit of Porto Alegre." But the names are unimportant.
going on in some form since the world revolution of 1968 and may
their effects. But when the system is far from equilibrium, exactly
effects.
that neither of the two camps has, nor can have, a vertical
structure with a small group at the top calling all the shots.
class nor a politburo of the oppressed masses, nor can there be.
persuade the larger groups that form the potential base of their
1
Ilya Prigogine, The End of Certainty, New York: The Free Press, 1996, 187-188.
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the light of our own moral preferences. We can start with the
system.
specialists who believe they see more clearly than the rest. Far
So, far from a simple twofold battle for the successor system,
I envisage a fourfold battle - one between the two great camps and
action. There are only lines of emphasis. I would put at the head
of the list actions that we can take, in the short run, to minimize
the pain - the pain that arises from the breakdown of the existing
system, the pain that arises from the confusions of the transition.
some more benefits within the states for those who have least
for immediate pain. They are not in themselves in any ways steps
perhaps from falling into the sectarianism that has always defeated
antisystemic movements.
reward system.
sharpen our sense of the moral negatives of any and all particular
there are none of us guiltless and none of us pure. And the entire
Finally, we must run like the plague from any sense that
our descendants may regret all that we have done. We have at best a
Fortuna, even if it escapes us. What more useful thing can any of
us do?