By W. I. ROBINSONUniversity of California, Santa Barbara, CA, USA
ABSTRACT This article analyzes and theorizes the global crisis from the perspective of global capitalism theory. The crisis is unprecedented, given its magnitude, its global reach, the extent of ecological degradation and social deterioration, and the scale of the means of violence. If we are to avert disastrous outcomes, we must understand the nature of the new global capitalism as well as its crisis. The system-wide crisis will not be a repeat of earlier such episodes of crisis in the 1930s and the 1970s precisely because world capitalism is fundamentally different in the early twenty-first century. Among the qualitative shifts in the global system this article highlights are: (1) the rise of truly transnational capital and the integration of every country into a new globalized production and financial system; (2) the appearance of a transnational capitalist class; (3) the rise of transnational state apparatuses; (4) and
