This contribution offers a comparison between the economic crises of the late-1920s and the first energy crisis of the 1970s through an inquiry into the changing balance between the transnational supply of capital and domestic aggregate demand for fixed capital formation and consumer goods. Its...

This article analyses the phenomenon of rising powers from a historical materialist perspective. It (1) elaborates the key concepts of historical structures of world order, state–society complexes and transnational class formation, and (2) applies them to Brazil, Russia, India, China and other...

Globalization as a political project rests on claims that liberalization and economic interdependence are conducive to peace and prosperity. Yet more 'globalization' seems to mean less economic growth and more inequalities. I portray first the downward phase that started in the 1970s and discuss...