ABSTRACT
The aim of this chapter is to conceptualize economic globalization as a new stage of capitalism, which came into existence after the post-Second World War boom came to an end. The ensuing, unprecedented internationalization of the three circuits of capital has been accompanied by a rather one-dimensional internationalization of institutions and regulation. By way of conclusion it will be argued that the way global capitalism has changed since the end of the postSecond World War expansion has raised the profit rate but is not conducive to the emergence of a new global long boom with growth levels as high as those in the 1960s and 1970s.
