Peer2Politics

Immanuel Wallerstein discusses what people call "Neoliberalism." It was never an accurate description, and IW explains what it means and how Neoliberalism's political moment is over. It used to be that "T.I.N.A.", or "There Is No Alternative", ruled the day, but now the world situation has changed.

Wallerstein's theoretical presentation of the mechanics of capitalism opens this volume. Capitalism, Wallerstein writes, is, at its most fundamental, a system of endless capital accumulation. While capitalism faced crises in its existence before, several forces are coming together now that will make a return to equilibrium impossible in the near future, ushering in a grand crisis. All of these forces involve the rising costs of doing business and the declining opportunities for their externalization.