Panitch and Gindin, The Making of Global Capitalism (2012)


“The global division of labor coming out of World War II was rigid and clear: manufacturing was largely concentrated in the former imperial countries and resource extraction in their dependencies. The breaking down of the old imperial order and the emergence of new nation-states did not in itself overcome but rather continued to produce the old global division of labor through informal means; but the dynamics of capital accumulation were not centered on North-South flows as much as on the linkages between the advanced capitalist countries of the North. This pattern did not change all that much until the 1980s, when the political conditions were established—in the North as well as increasingly in the South—that laid the grounds for a truly global capitalism.” (196)

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