The Controversy with Immanuel Wallerstein: the Industrial Revolution and Globalization as the Great Turning Points of Modern Times

Abstract

Wallerstein states that the only social revolution, or the «great turning point» of Modern Times, is the formation of the European capitalist world–economy during the «long» XVI century. Contrary to this, the author argues that two more great fractures can be distinguished in the history of Modern Times. The first of them was the industrial revolution of the XIX century, when three processes coincided, pro­voked by the invention of the steam engine – the mechanization of factory production, the energy rev­olution and the change of logistics. The emergence of globalization required a combination of several circumstances that developed into a single complex at the end of the twentieth century: the absorption of the remaining large external zones by the capitalist world system, the information and communication revolution, the establishment of geopolitical unipolarism, the dominance of the ideology of neoliberal globalism on a global scale.