Professor Charles Pennaforte launched a new book in English, World-Systems Analysis: An Introduction to the Thinking of Immanuel Wallerstein (free download).
Since the beginning of the 20th century the Marxist legacy has always framed capitalism as a structure ready to collapse. In fact, Marx’s own observations about the autophagic character of capitalism and its structural inconsistencies pointed to its “final crisis”, a process inherent in the development of capitalism itself. On this, indeed, there is no doubt. A careful reading of the Marxist works and their numerous theorists is enough to observe that this is not “positivism” or “anti-capitalist catastrophism”.
However, the overcoming capacity of the bourgeoisie (a term almost forgotten nowadays) or the investors (the most modern term) in creating ways out and/or “formulas” to keep the system “healthy” in the face of its structural dilemmas, could not be considered at the beginning of the analysis of capitalism as a system in the 19th century. The reason was obvious: capitalism was still developing. Some theorists have been important for the positive superation of Marx’s work and the understanding of capitalist dynamics since then. If on the one hand Karl Marx (1818-1883) theorized capitalism in its structural and ideological logic, it was up to Vladimir Lenin (1870-1924) to transform reality and not only interpret it, paraphrasing one of Marx’s arguments1 in the Theses on Feuerbach (MARX, 1982).
The Italian communist leader and theoretician Antonio Gramsci (1891-1937) was also an important contributor in this endeavor, providing a more sophisticated approach to the analysis of capitalism and its society. Gramsci’s relevance today is surprising and indispensable, impacting the Social Sciences in a very intense degree. Understanding and criticizing a complex system such as capitalism is a Herculean task, especially with aim to escape from the pamphletary and/or orthodox discourse, and even from its “perfection” defended by liberals.
The intellectual work conducted by Immanuel Maurice Wallerstein (1930-2019) holds major importance for understanding the capitalist dynamics of the second half of the 20th century and its influence on the Social Sciences. This importance of his work is proven by its influence, which is comprehended in various areas of human knowledge, from politics to international relations.
The aim of this book is to present an overview of the thinking of the leading exponent of so-called World-Systems Analysis (WSA), Immanuel Wallerstein, in a clear and concise style, incorporating new realities and reflections of the last decade. We should point out that this is not an easy task, as the theoretician has navigated between the diverse areas of human thinking with ease, I hope that this purpose will be fully achieved.
To achieve these objectives, the book will be divided into five parts with the purpose of providing an easier understanding of Wallerstein’s work. In order to understand Immanuel Wallerstein’s intellectual path, and consequently his objects of study, we will briefly review his biography. In the chapter “Origins of World-Systems Analysis” an overview will be outlined of the historical and methodological foundations that favored the emergence of WSA. The critique of modernization theory and the national liberation struggles that took place in Africa and Asia in the post-1945 period provided the context for its emergence.
In the second part, World-Systems Analysis, we will discuss the theoretical framework proposed by Immanuel Wallerstein and his epistemological critiques to understand the new dynamics generated by the emergence of the Third World and the explanations for its economic and social backwardness. I will also explain the main categories that compose WSA.
In the third part, The systemic cycles of accumulation, we will learn about Giovanni Arrighi’s contribution to WSA in the economic field revealing the influences of Antonio Gramsci and Nikolai Kondratiev.
The fourth part of this publication, The Decline of US Hegemony, deals with one of Wallerstein’s most controversial theses. In his work Decline of American power: the U.S. in a chaotic world4 in 2003 he was already making a broad study on the origins of the crisis of US hegemony, which, in a general sense, we are able to visualize in several aspects of the present time.
As previously stated, the old Marxist tradition has always indicated the inevitability of capitalist collapse. Numerous critics of Marxism constantly point to the “remnants” of positivism in such claims. It’s worth remembering that the “belief” in perfect and balanced capitalism, with an “invisible hand” perfectly regulating the dynamics of the system, is as positivist as the Marxist claims of its demise.
The contribution of Wallerstein to this topic is precisely the indication of the reasons for the hegemonic decline of the United States through a highly complex process of numerous variables. In other words, he pointed out what would be the “weak links” of contemporary capitalism.
The world economic crisis of 2008 appeared to support Wallerstein’s analysis so far. Without the action of the “notorious” government, the North American and world economies would have entered into such a crisis that the stock market crash of 1929 would not have been considered really important from a historical-economic point of view of capitalism.
The coronavirus pandemic itself at the end of 2019 and during 2020-2021, was another clear sign of the importance of the State as an active player in the economic process. For example, President Donald Trump (2017-2021) has poured billions of dollars into the US economy to mitigate the effects of the economic recession. An undeniably Keynesian measure to the despair of liberals who never refuse state aid in times of crisis.
Another important symbol of the US hegemonic crisis is the ever-increasing decline in its ability to exert influence in favor of its interests. The vis-à-vis actions of Donald Trump towards China during his term in office, with the “trade war” and attacks on the world’s second economy, marked something beyond a simple conflict over jobs.
An additional example that is worth mentioning was the attempt to isolate Russia after the invasion of Ukraine in 2022. Several countries have refused to participate in the trade, economic, and political isolation promoted by the US and the European Union (EU), among them China, India, and Brazil. It’s important to remember the multiple interests involved between these countries, from strategic aspects (China) to economic ones, and the lack of clarity of Brazilian foreign policy during the Bolsonaro administration (2019-2022).
In the chapter “Utopistics” we will address the paths and perspectives for the future in Wallerstein’s vision. Thoughts such as the place of capitalism in this moment of transition, what will come after capitalism? Or will capitalism suffer yet another metamorphosis?
In the last part of this book, “Perspectives on the contemporary World-System”, an analysis of the current state of international relations given the geopolitical decline of the US will be conducted through the Ukrainian war and NATO in the conflict, the role of BRICS and the things we can expect as corollary of this new reality. A contribution I hope will be thought-provoking and important for all those who want to stay one “step ahead” in today’s world.
What would a scenario of a breakdown of the current cycle of accumulation look like? How could we grasp it? Will the so-called “emerging” countries have the capacity to replace the nations that constitute the core of the current cycle of accumulation into a new cycle? Do the BRICS imply a new perspective? and what about the US? Is its “collapse” inevitable or will the system adapt once again and overcome its current crisis?
There are many questions indeed and certainly, answers exist, but not within the common sense disseminated in newspapers and magazines, or by scholars who create and/or reproduce analyses that meet the interests of large international corporations or educational institutions that are tied up to the process of system maintenance. Wallerstein proposed different and relevant analyses, so why not spread them more?
