German-American economic historian and sociologist who promoted dependency theory after 1970 and world-systems theory after 1984
Arnold Harberger, Milton Friedman & Co. Inc.
The most visible and often tragic sacrifice of proletarian socialism - not to mention internationalism - on the altar of nationalism, of course, has been by the states that proclaim themselves to be, or to aspire to become, socialist.
Most economic histories of the "world" not only omit most extra-European production and exchange (even most of that outside West Europe or even northwest Europe); they neglect the participation of the productive and exchange activities of extra-European countries in the European, not to say world, process of accumulation and development. Moreover, they disregard the part that these productive and exchange relations played in the developing world system.
The crisis is a period in which a diseased social, economic, and political body or system cannot live on as before and is obliged, on pain of death, to undergo transformations that will give it a new lease on life. Therefore, this period of crisis is a historical moment of danger and suspense during which the crucial decisions and transformations are made, which will determine the future development of the system if any and its new social, economic, and political basis. .
