Rise & fall of hegemon = stability to maximise accumulation of capital

It is argued that the periodic rise and fall of hegemonic states provides the periods of stability required to maximise the accumulation of capital. The existence of a hegemonic state is regarded by Wallerstein as an ideal situation.

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Themes & Theories in International Relations
5. Capitalism. energy, exploitation
B. World Systems Theory
C. Hegemony
Rise & fall of hegemon = stability to maximise accumulation of capital
All hegemonic world systems rise and fall: the system changes
Are we in a period of late, capitalism under the West?
Concept of hegemony = central role in capitalist world-system theory
Defined as the dominance (not control) over key sources of int. power
Hegemony does not = empire. Empire = direct rule, diktat, force
Nye: hegemony = preponderance of power, not dominance
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