By Immanuel Wallerstein
A succinct creation to the historical past of capitalism through the popular political theorist.In this brief, hugely readable ebook, Immanuel Wallerstein offers a condensation of the crucial principles of the trendy World-System, his enormous learn of capitalism as an built-in, old entity. In constructing an anatomy of capitalism over the last 5 centuries, Wallerstein presents some of the most coherent and succinct introductions to the genesis of an international method of exploitation. specific cognizance is concentrated at the emergence and improvement of a unified international marketplace, and the concomitant foreign department of work. Wallerstein argues forcefully, opposed to the grain of a lot present opinion, that capitalism has led to a precise, now not purely relative, immiseration within the nations of the 3rd international. the commercial and social difficulties of underdeveloped nations will stay unresolved so long as they continue to be positioned inside a framework of global capitalism. historic Capitalism is a welcome and stimulating synthesis of 1 of the main influential tests of capitalism as a world-historic mode of creation.
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Additional info for Historical Capitalism with Capitalist Civilization (Second Edition)
431). During the period 1880-1893 before the patents expired, telephone companies were not subject to governmental supervision of rates and services but, in many cities, operated under government franchises or ordinances (Stehman, 1925, p. 44; Wilcox, Vol. I, pp. 252-322). These franchises "dealt only with such matters as are commonly expressed as coming under the head of police power" (Stehman, 1925, p. 44). 5 Furthermore, as discussed in chapters 6 and 7, a rather low absolute limit on liability would eliminate many sources of transaction costs.
4 INSTITUTIONAL FOUNDATIONS FOR THE TRADITIONAL JUSTIFICATIONS Chapter 3 described the traditional justifications for upholding tariff limited liability provisions of telephone companies and their corresponding flaws. As for the most frequently used justifications, it was shown that reliance on both Western Union v. Esteve Bros. and the filed rate doctrine has been inappropriate, and that the regulatory contract theory is factually inaccurate. But, important questions are why these flawed justifications arose and why they have persisted for so long.
This regulatory contract theory has subsequently been repeated in numerous other telephone court cases (Wilkinson v. New England Tel. & Tel. Co .. 1951, problems with telephone service; Cole v. Pacific Tel. & Tel. Co .. 1952, omission in directory listing; American Tel. & Tel. Co. v . Florida-Texas Freight. Inc .. 1973/1973, problems with private line service; Southern Bell Tel. & Tel. Co. v. Invenchek. 1974, problems with telephone service; Waters v. Pacific Tel. & Tel. • 1974, inadequate telephone service).
Historical Capitalism with Capitalist Civilization (Second Edition) by Immanuel Wallerstein