Systemic cycles of accumulation and chaos in the world capitalist system: a missing link

Giorgos Galanis, Christian Koutny, Isabella Weber

Research output: Contribution to journalArticlepeer-review

Abstract

We re-examine the systemic cycles of accumulation (SCA) of Arrighi (2010) and Arrighi and Silver (1999) which provide a framework for the analysis of the cyclical patterns of geographical expansion of trade and production and the related shifts of hegemonic power within the world capitalist system. Within the SCA framework, the last stage of a hegemonic cycle is characterized by what is called ‘systemic chaos’. However, the drivers of these dynamics have not been explicitly analyzed. This article fills this gap by providing a link between the accumulation process and systemic chaos. Introducing the logistic map into the SCA analysis, our approach provides the missing detailed understanding of how systemic chaos is an outcome of the contradictory socioeconomic dynamics of capital accumulation itself while being based on the key insights of the SCA framework of hegemonic cycles.
Original languageEnglish
Article numbermwae007
Pages (from-to)1843–1863
Number of pages21
JournalSocio-Economic Review
Volume22
Issue number4
Early online date12 Apr 2024
DOIs
Publication statusPublished - 30 Oct 2024

Fingerprint

Dive into the research topics of 'Systemic cycles of accumulation and chaos in the world capitalist system: a missing link'. Together they form a unique fingerprint.

Cite this