The essential feature of a capitalist world-economy... is production for sale in a market in which the object is to realize the maximum profit is the… - Immanuel Wallerstein

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The essential feature of a capitalist world-economy... is production for sale in a market in which the object is to realize the maximum profit is the essential feature of a capitalist world-economy. In such a system production is constantly expanded as long as further production is profitable, and men constantly innovate new ways of producing things that will expand the profit margin.

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About Immanuel Wallerstein

Immanuel Wallerstein (September 28, 1930 – August 31, 2019) was an American sociologist, historical social scientist, and world-systems analyst.

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Birth Name: Immanuel Maurice Wallerstein
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It is simply not true that capitalism as a historical system has represented progress over the various previous historical systems that it destroyed or transformed. Even as I write this, I feel the tremour that accompanies the sense of blasphemy. I fear the wrath of the gods, for I have been moulded in the same ideological forge as all my compeers and have worshipped at the same shrines.

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[A world-system is] a system that is a world and which can be, most often has been, located in an area less than the entire globe. World-systems analysis argues that the units of social reality within which we operate, whose rules constrain us, are for the most part such world-systems (other than the now extinct, small mini-systems that once existed on the earth). World-system analysis argues that there have been thus far only two varieties of world-systems: world-economies and world empires. A world-empire (examples, the Roman Empire, Han China) are large bureaucratic structures with a single political center and an axial division of labor, but multiple cultures. A world-economy is a large axial division of labor with multiple political centers and multiple cultures.

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