The Modern World-System in Crisis

Paragraphs 1-6 - Michael Hicks

Wallerstein begins his writing by stating that "The modern world system in which we are living, which is that of a capitalists world economy, is currently in precisely such a crisis and has been for a while now" (p. 460). He then talks about how we as individuals experience these changing social structures rapidly at times, as well as slowly, and that our overall expectations on this social system is unstable. Because of this unstable perspective, individuals may become irrational when trying to acquire specific privileges that will give them a social advantage over others. These irrational actions may include violence and may also give individuals anxiety. Wallerstein then begins to examine how this crisis began, and he suggests that the world revolution of 1968 is a major cause of the crisis. During this time, the long period of liberal supremacy ended allowing capitalists to take advantage of the world economy "exposing it to the full force of political and cultural shocks." Wallerstein then explains how the world economy after 1945 is also a cause of this modern crisis. He explains that it was post World War 2 when the largest expansion of productive structures became apparent causing costs of remuneration, inputs and taxes to take a great rise.

Paragraphs 7-9 - Jose Beltran

In the end of this excerpt Wallerstein tries to explain the revolutions of 1968. He points out how previously, the world-system had displayed a dynamic of constantly rotating hierarchies, where the new groups on top were always emergent revolutionary groups seeking change, but who were only able to change their own situation and not the actual gap between the rich and poor in the world. The working class began to lose faith in its future. The growing unipolar power of the United States and the failure of revolutionary systems and groups disenchanted the working class, which is what motivated its participation in revolution. These revolutions did not exhibit the same pattern of attaining power in a way that left the income inequality unchanged, but instead created instability and a toll on faith and optimism, which previously had played a strong roll in maintain stability. This new lack of stability marks the present day since 1968, a crisis that won’t go away, not least with asymptotic nature of constantly outsourcing labour as a way of dealing with the problem of squeezes in profits, a short term solution that leads Wallerstein to see uncertainty ahead.

Comment [Alexis Wolfe] In a way, we see the uncertainty Wallerstein predicts being essentially weaponized in recent years. The mass deployment of confusion, misinformation, propaganda on both sides of the political spectrum and chaos of politics as it interacts with the media is strategic mechanism which situations the individual as unable to conceptualize reality from fiction and understand the world in clear, uncorrupted terms. In the current globalized political environment, subjects are left to navigate a false reality achieved through perception destabilization and existential warfare. Living in what is at it's core, a post-truth world, capitalism reworks reality to conceive of a version of it so complex, abstracted and distant from the average citizen that truth and transparent power appear utterly unattainable. And yet, individuals are so embedded in the capitalist consumer culture that it is nearly impossible to see outside of it; to see beyond the system. Perception management has been the key strategy invoked by the marriage of politics and the media. In a sense, the buying and selling of a message becomes psychological warfare - politicians buy your consciousness through control over the message and the medium. Suddenly, reality becomes too complex to change. New politics, as Wallerstein points to, express mere stabilization. Managing society, maintaining current systems became a goal in itself. There was no longer room for change - as the system continued to fail, it also reconfigured itself in new yet familiar forms - all while disguising this doomed process as progressive and essential.