Immanuel Wallerstein's comprehensive rendition of understanding world systems is more accessible and conceivable as opposed to theories presented earlier regarding the political apparatus that drives the world system. By simply deconstructing the world into mini-systems and world systems, which encompass the mini-systems, Wallerstein identifies the social realities within which there exist heterogeneous classes, cultures and complex structures.
The trajectory of capitalism and its very roots can be traced back to the age in which mercantilism formed the dominant social and economic system. Countries bordering on the peripheries immersed their economies in trade and production of goods and services so that they could go into the semi-peripheral stage. However, the main hindrance to the African economy came as a result of the dominant world system of the time which was defined primarily by agricultural capitalism. A very interesting observation made in the article is the idea that there came a point where "slavery was no longer economic" which sowed the seeds for the struggle the African economy faced previously and still faces today. While slavery was a social phenomena, there is no doubt that its economic benefits to the core countries undermined the social stigmatization that it inflicted upon the African slaves for generations to come. This incentivized a system of unwarranted exploitation of the periphery by the core nations.
A very prominent contrast to the African periphery countries is the case of Germany, a country that recovered extremely well in spite of it being hit hard by the two World Wars and then by the Great depression, to name a few global crises. The two contrasting cases bear testimony to the fact that even though there are over-arching world systems, each country's internal interpretation and "consolidation of their industrial capitalist economy" determines how receptive they are to change. Wallerstein concludes with precise foresight as he predicts the ultimate disintegration of capitalism as a word-system which will he reiterates will instigate revolutionary change.
The trajectory of capitalism and its very roots can be traced back to the age in which mercantilism formed the dominant social and economic system. Countries bordering on the peripheries immersed their economies in trade and production of goods and services so that they could go into the semi-peripheral stage. However, the main hindrance to the African economy came as a result of the dominant world system of the time which was defined primarily by agricultural capitalism. A very interesting observation made in the article is the idea that there came a point where "slavery was no longer economic" which sowed the seeds for the struggle the African economy faced previously and still faces today. While slavery was a social phenomena, there is no doubt that its economic benefits to the core countries undermined the social stigmatization that it inflicted upon the African slaves for generations to come. This incentivized a system of unwarranted exploitation of the periphery by the core nations.
A very prominent contrast to the African periphery countries is the case of Germany, a country that recovered extremely well in spite of it being hit hard by the two World Wars and then by the Great depression, to name a few global crises. The two contrasting cases bear testimony to the fact that even though there are over-arching world systems, each country's internal interpretation and "consolidation of their industrial capitalist economy" determines how receptive they are to change. Wallerstein concludes with precise foresight as he predicts the ultimate disintegration of capitalism as a word-system which will he reiterates will instigate revolutionary change.
Adding to the aspect of slavery that you have covered in your post: the decline in slavery ultimately occurred due to the increasing costs and decreasing benefits attached to partaking in using slaves as sources of free labor. The inefficiencies in production that accompanied slave trade resulted in hiring Africans as waged labor on plantations. This just goes to show that although there may have been a shift in the Europeans' moral compass that led to an abolition of the slave trade, an attenuation in slavery occurred largely because it was no longer profitable.
ReplyDeleteGood post and I just want to highlight that slavery existed a lot longer than capitalism. Although capitalism remains the dominant economic system in the world today, who knows if it will survive what I expect will be a tumultuous 21st century.
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