The Global Market

By most accounts, the twentieth century has been one of the most revo-lutionary periods in world history, not just politically but economically and socially as well. In one key respect, however, the end of the century resembles its beginning. The entire world appears to us, as it did a century ago, to be integrated in a single market in which states are said to have no choice but compete intensely with one another for increasingly mobile capi-tal.