i
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Global inequality and systems theory
Abstract
This article analyzes historical relationships between the functional differentiation of the economic system and the re-adaptation of global inequality. Four periods are examined: the pre-industrial, characterized by the circulation of silver in a sino-centric commercial world (1492-1815); the gold standard, in which fiat money convertible into gold and issued by central banks emerged as the main medium of exchange (1815-1914); the gold-exchange standard, in which the US dollar replaced gold as the international payment medium (1914-1971); and the present period, based on floating exchange rates and inconvertible fiat money (1917-present). The hypothesis is that functional differentiation of the economic system has contributed to the transformation and re-adaptation of global inequality to new and more complex scenarios.Keywords:
social systems theory, functional differentiation, economic system, money, global inequalityReferences
Bearce, D. (2007). Monetary divergence: domestic policy autonomy in the post-Bretton Woods era. Ann Ar-bor: University of Michigan Press.
Bordo, M. D. (1993). The Gold Standard, Bretton Woods, and other monetary regimes: a histori-cal appraisal. Federal Reserve of St. Louis, 123–191.
Bordo, M. D., y Eichengreen, B. (1993). A retrospective on the Bretton Woods system. Chicago: University of Chicago Press.
Bordo, M. D., y Schwartz, A. J. (Eds.). (1984). A retrospective on the classical Gold Standard, 1821-1931. Chicago: University of Chicago Press.
Bryan, S. (2010). The Gold Standard at the turn of the twentieth century. Rising powers, global money, and the age of empire. New York: Columbia Universi-ty Press.
Cadenas, H. (2012). La desigualdad de la sociedad. Diferenciación y desigualdad en la sociedad moderna. Persona y Sociedad 26, 51–77.
Cadenas, H. (2016). Desigualdad social y teoría de sistemas: la importancia de los medios, 3(1), 41–69.
Casanova, M. (2020). En torno a los orígenes de la Gran Divergencia: debates recientes en historia económica (2000-2018). Cultura Hombre Socie-dad. Epub: 31 de agosto de 2020. https://dx.doi.org/10.7770/2452-610x.2020.cuhso.02.a01
Cesarano, F. (2006). Monetary theory and Bretton Woods: the construction of an international monetary order. Cambridge: Cambridge University Press.
Chaudhuri, K. N. 1978) The trading world of Asia and the English East India Company, 1660-1760. Cambridge: Cambridge University Press.
Cipolla, C. M. (1993). Before the industrial revolution: European society and economy, 1000-1700. New York: Norton.
Conde, R. (2006). Fiscal and monetary regimes. In: J. Coatsworth, R. Cortes-Conde, y V. Bulmer-Thomas (eds.), The Cambridge economic history of Latin America: volume 2: The long Twentieth Centu-ry (pp. 209-248). Cambridge: Cambridge Uni-versity Press.
De Vries, J. (2008). The Industrious Revolution: consumer behavior and the household economy, 1650 to the Pre-sent. Cambridge: Cambridge University Press.
Drake, P. W. (1984). La misión Kemmerer a Chile: consejeros norteamericanos, estabilización y endeudamiento, 1925-1932. Cuadernos de historia 4, 31–59.
Drake, P. W. (1995). Kemmerer en Los Andes: la misión Kemmerer, 1923-1933. Quito: Banco Central del Ecuador.
Eichengreen, B. (1996). Golden Fetters. The Gold Stand-ard and the Great Depression, 1919-1939. Oxford: Oxford University Press.
Eichengreen, B., y Flandreau, M. (1997). Gold Stand-ard in theory and history. London/New York: Routledge.
Eichengreen, B., y Temin, P. (2000). The Gold Standard and the Great Depression. Contempo-rary European History 9(2), 183–207.
Endres, A. M. (2010). International financial integration: competing ideas and policies in the post-Bretton Woods era. London/New York: Palgrave Macmillan.
Flynn, D. O. 2015. Silver in a global context, 1400–1800. In: J. H. Bentley, M. E. Wiesner-Hanks, y S. Subrahmanyam (eds.), The Cambridge world history: volume 6. The construction of a global world, 1400–1800 (pp. 213-239). Cambridge: Cam-bridge University Press.
Flynn, D. O., Giráldez, A., y Glahn, R. V. (2003). Global connections and monetary history, 1470-1800. Burlington, VT: Ashgate Pub Ltd.
Frank, A. G. (1998). ReORIENT: global economy in the Asian age. California: University of California Press.
Friedman, M., y Schwartz, A. J. (1986). Has govern-ment any role in money? Journal of Monetary Economics 17(1), 37–62.
Giráldez, A. (2015). The age of trade: The Manila galleons and the dawn of the global economy. Lanham, Mary-land: Rowman y Littlefield.
Glahn, R. von. (2016). The economic history of China: from Antiquity to the Nineteenth Century. Cam-bridge: Cambridge University Press.
Goldstone, J. (2008). Why Europe? The rise of the West in world history 1500-1850. New York: McGraw-Hill Education.
Habermas, J. (1990). El discurso filosófico de la moderni-dad. Madrid: Taurus.
Hegel, G. W. F. (1992). Lecciones sobre la filosofía de la historia universal. Introducción general. Valencia: Universidad de Valencia.
Keynes, J. M. (2003). Teoría general de la ocupación, el interés y el dinero. México DF: Fondo De Cultu-ra Económica.
Keynes, J. M. (2010). Tratado sobre el dinero. Madrid: Síntesis.
Kindleberger, C. (1973). The world in depression, 1929-1939. California: University of California Press.
Kindleberger, C. P., y Aliber, R. Z. (2005). Manias, panics, and crashes: a history of financial crises. Ho-boken, N.J: John Wiley y Sons.
Knorr-Cetina, K. D. (1992). Zur Unterkomplexität der Differenzierungstheorie: empirische An-fragen an die Systemtheorie. Zeitschrift für Sozio-logie 21(6), 406–419.
Knortz, H. (2010). Wirtschaftsgeschichte der Weimarer Republik (1.). Göttingen: UTB.
Kopper, C. (2006). Hjalmar Schacht: Aufstieg und Fall von Hitlers mächtigstem Bankier. München: Han-ser.
Kronauer, M. (2003). Exklusion: Die Gefährdung des Sozialen im hoch entwickelten Kapitalismus. Frank-furt aM: Campus.
Leeson, R. (2003). Ideology and the international economy: the decline and fall of Bretton Woods. London: Pal-grave Macmillan.
Lerner, A. P. (1947). Money as a creature of the State. The American Economic Review 37(2), 312–317.
Luhmann, N. (2007). La sociedad de la sociedad. México DF: Herder-Universidad Iberoamericana.
Luhmann, N. (2017). La economía de la sociedad. Méxi-co DF: Herder.
Macpherson, W. J. (1987). The economic development of Japan c. 1868–1941. London: Macmillan Educa-tion UK.
Marichal, C. (2010). Nueva historia de las grandes crisis financieras. Una perspectiva global, 1873-2008. Bue-nos Aires: Sudamericana-Debate.
Mascareño, A. (2009). Medios simbólicamente gene-ralizados y el problema de la emergencia. Cinta de moebio 36, 174–197.
Meltzer, A. H. (2003). A history of the Federal Reserve I. 1913-1951. Chicago: University of Chicago Press.
Morrison, W. M. (2018). China’s economic rise: history, trends, challenges, and implications for the United States (Congressional Research Service). United States of America: United States Congress.
Nassehi, A. (2011). La teoría de la diferenciación funcional en el horizonte de sus críticas. MAD 24, 1–29.
Ogilvie, S. C. (Ed.). (1996). European proto-industrialization. Cambridge: Cambridge Uni-versity Press.
Ogilvie, S. C. (Ed.). (1997). The proto-industrialization debate. In: State corporatism and proto-industry: the Württemberg Black Forest, 1580–1797 (pp. 16-34). Cambridge: Cambridge Uni-versity Press.
Parker, C. H. (2015). Entrepreneurs, families, and companies. In: J. H. Bentley, M. E. Wiesner-Hanks, y S. Subrahmanyam (eds.), The Cam-bridge world history: volume 6. The construction of a global world, 1400–1800 (pp. 190-212). Cam-bridge: Cambridge University Press.
Paul, R. (2010). End the Fed. New York: Grand Cen-tral Publishing.
Peattie, M. R. 1(989). The Japanese colonial empire, 1895–1945. In P. Duus (ed.), The Cambridge his-tory of Japan: volume 6. The Twentieth Century (pp. 215-270). Cambridge: Cambridge University Press.
Perdue, P. C. (2009). China marches West: the Qing conquest of Central Eurasia. Cambridge, Mass: Harvard University Press.
Pomeranz, K. (2000). The Great Divergence: China, Europe, and the making of the modern world economy. New Jersey: Princeton University Press.
Pomeranz, K., y Topik, S. (2017). The world that trade created: society, culture, and the world economy, 1400 to the Present. New York: Routledge.
Prakash, O. (1994). Precious metals and commerce: the Dutch East India Company in the Indian Ocean trade. USA: Variorum.
Robins, N. (2006). The corporation that changed the world: how the East India Company shaped the modern mul-tinational. Hyderabad, India: Pluto Press.
Rosenthal, J.-L., y Wong, R. B. (2011). Before and beyond divergence: the politics of economic change in China and Europe. Cambridge, Mass: Harvard University Press.
Sanchez-Sibony, O. (2014). Capitalism’s fellow trav-eler: the Soviet Union, Bretton Woods, and the Cold War, 1944–1958. Comparative Studies in So-ciety and History, 56(2), 290–319.
Schimank, U. (2013). La sociedad moderna: una sociedad capitalista funcionalmente diferencia-da. MAD 28, 1–22.
Simmel, G. (2003). Filosofía del dinero. Granada: Co-mares.
So, B. K. L. (2012). The economy of Lower Yangzi Delta in late imperial China: Connecting money, markets, and institutions. New York: Routledge.
Sugihara, K., y Wong, R. B. (2015). Industrious revolutions in early modern world history. In: J. H. Bentley, M. E. Wiesner-Hanks, y S. Subrahmanyam (eds.), The Cambridge world histo-ry: Volume 6. The construction of a global world, 1400–1800 (pp. 283-310). Cambridge: Cam-bridge University Press.
Teichova, A., Hentenryk, G. K., y Ziegler, D. (eds.). (1997). Banking, trade and industry: Europe, Amer-ica and Asia from the Thirteenth to the Twentieth Century. Cambridge: Cambridge University Press.
Tracy, J. D. (2015). Dutch and English trade to the East: the Indian Ocean and the Levant, to about 1700. In: J. H. Bentley, M. E. Wiesner-Hanks, y S. Subrahmanyam (eds.), The Cam-bridge world history: Volume 6. The construction of a global world, 1400–1800 (pp. 240-262). Cam-bridge: Cambridge University Press.
Trivellato, F. (2015). The organization of trade in Europe and Asia, 1400–1800. In J. H. Bentley, M. E. Wiesner-Hanks, y S. Subrahmanyam (eds.), The Cambridge world history: Volume 6. The construction of a global world, 1400–1800 (pp. 160-189). Cambridge: Cambridge University Press.
Tymoigne, E., y Wray, L. R. (2013). Modern money theory 101: a reply to critics. Levy Economics In-stitute of Bard College. Working Paper, (778), 1–57.
Tyrell, H. (1978). Anfragen an die Theorie der gesell-schaftlichen Differenzierung. Zeitschrift für Sozi-ologie 7(2), 175–193.
Wallerstein, I. (2011). The modern World-System I: capitalist agriculture and the origins of the European world-economy in the Sixteenth Century. California: University of California Press.
Yago, K., Asai, Y., y Itoh, M. (eds.). (2015). History of the IMF: organization, policy, and market. Tokyo: Springer Japan.
Zhang, L. (2009). China’s policy responses to the global financial crisis: efficacy and risks. In: Global Financial Governance: Challenges and Region-al Responses. Conference in Berlin.
Bordo, M. D. (1993). The Gold Standard, Bretton Woods, and other monetary regimes: a histori-cal appraisal. Federal Reserve of St. Louis, 123–191.
Bordo, M. D., y Eichengreen, B. (1993). A retrospective on the Bretton Woods system. Chicago: University of Chicago Press.
Bordo, M. D., y Schwartz, A. J. (Eds.). (1984). A retrospective on the classical Gold Standard, 1821-1931. Chicago: University of Chicago Press.
Bryan, S. (2010). The Gold Standard at the turn of the twentieth century. Rising powers, global money, and the age of empire. New York: Columbia Universi-ty Press.
Cadenas, H. (2012). La desigualdad de la sociedad. Diferenciación y desigualdad en la sociedad moderna. Persona y Sociedad 26, 51–77.
Cadenas, H. (2016). Desigualdad social y teoría de sistemas: la importancia de los medios, 3(1), 41–69.
Casanova, M. (2020). En torno a los orígenes de la Gran Divergencia: debates recientes en historia económica (2000-2018). Cultura Hombre Socie-dad. Epub: 31 de agosto de 2020. https://dx.doi.org/10.7770/2452-610x.2020.cuhso.02.a01
Cesarano, F. (2006). Monetary theory and Bretton Woods: the construction of an international monetary order. Cambridge: Cambridge University Press.
Chaudhuri, K. N. 1978) The trading world of Asia and the English East India Company, 1660-1760. Cambridge: Cambridge University Press.
Cipolla, C. M. (1993). Before the industrial revolution: European society and economy, 1000-1700. New York: Norton.
Conde, R. (2006). Fiscal and monetary regimes. In: J. Coatsworth, R. Cortes-Conde, y V. Bulmer-Thomas (eds.), The Cambridge economic history of Latin America: volume 2: The long Twentieth Centu-ry (pp. 209-248). Cambridge: Cambridge Uni-versity Press.
De Vries, J. (2008). The Industrious Revolution: consumer behavior and the household economy, 1650 to the Pre-sent. Cambridge: Cambridge University Press.
Drake, P. W. (1984). La misión Kemmerer a Chile: consejeros norteamericanos, estabilización y endeudamiento, 1925-1932. Cuadernos de historia 4, 31–59.
Drake, P. W. (1995). Kemmerer en Los Andes: la misión Kemmerer, 1923-1933. Quito: Banco Central del Ecuador.
Eichengreen, B. (1996). Golden Fetters. The Gold Stand-ard and the Great Depression, 1919-1939. Oxford: Oxford University Press.
Eichengreen, B., y Flandreau, M. (1997). Gold Stand-ard in theory and history. London/New York: Routledge.
Eichengreen, B., y Temin, P. (2000). The Gold Standard and the Great Depression. Contempo-rary European History 9(2), 183–207.
Endres, A. M. (2010). International financial integration: competing ideas and policies in the post-Bretton Woods era. London/New York: Palgrave Macmillan.
Flynn, D. O. 2015. Silver in a global context, 1400–1800. In: J. H. Bentley, M. E. Wiesner-Hanks, y S. Subrahmanyam (eds.), The Cambridge world history: volume 6. The construction of a global world, 1400–1800 (pp. 213-239). Cambridge: Cam-bridge University Press.
Flynn, D. O., Giráldez, A., y Glahn, R. V. (2003). Global connections and monetary history, 1470-1800. Burlington, VT: Ashgate Pub Ltd.
Frank, A. G. (1998). ReORIENT: global economy in the Asian age. California: University of California Press.
Friedman, M., y Schwartz, A. J. (1986). Has govern-ment any role in money? Journal of Monetary Economics 17(1), 37–62.
Giráldez, A. (2015). The age of trade: The Manila galleons and the dawn of the global economy. Lanham, Mary-land: Rowman y Littlefield.
Glahn, R. von. (2016). The economic history of China: from Antiquity to the Nineteenth Century. Cam-bridge: Cambridge University Press.
Goldstone, J. (2008). Why Europe? The rise of the West in world history 1500-1850. New York: McGraw-Hill Education.
Habermas, J. (1990). El discurso filosófico de la moderni-dad. Madrid: Taurus.
Hegel, G. W. F. (1992). Lecciones sobre la filosofía de la historia universal. Introducción general. Valencia: Universidad de Valencia.
Keynes, J. M. (2003). Teoría general de la ocupación, el interés y el dinero. México DF: Fondo De Cultu-ra Económica.
Keynes, J. M. (2010). Tratado sobre el dinero. Madrid: Síntesis.
Kindleberger, C. (1973). The world in depression, 1929-1939. California: University of California Press.
Kindleberger, C. P., y Aliber, R. Z. (2005). Manias, panics, and crashes: a history of financial crises. Ho-boken, N.J: John Wiley y Sons.
Knorr-Cetina, K. D. (1992). Zur Unterkomplexität der Differenzierungstheorie: empirische An-fragen an die Systemtheorie. Zeitschrift für Sozio-logie 21(6), 406–419.
Knortz, H. (2010). Wirtschaftsgeschichte der Weimarer Republik (1.). Göttingen: UTB.
Kopper, C. (2006). Hjalmar Schacht: Aufstieg und Fall von Hitlers mächtigstem Bankier. München: Han-ser.
Kronauer, M. (2003). Exklusion: Die Gefährdung des Sozialen im hoch entwickelten Kapitalismus. Frank-furt aM: Campus.
Leeson, R. (2003). Ideology and the international economy: the decline and fall of Bretton Woods. London: Pal-grave Macmillan.
Lerner, A. P. (1947). Money as a creature of the State. The American Economic Review 37(2), 312–317.
Luhmann, N. (2007). La sociedad de la sociedad. México DF: Herder-Universidad Iberoamericana.
Luhmann, N. (2017). La economía de la sociedad. Méxi-co DF: Herder.
Macpherson, W. J. (1987). The economic development of Japan c. 1868–1941. London: Macmillan Educa-tion UK.
Marichal, C. (2010). Nueva historia de las grandes crisis financieras. Una perspectiva global, 1873-2008. Bue-nos Aires: Sudamericana-Debate.
Mascareño, A. (2009). Medios simbólicamente gene-ralizados y el problema de la emergencia. Cinta de moebio 36, 174–197.
Meltzer, A. H. (2003). A history of the Federal Reserve I. 1913-1951. Chicago: University of Chicago Press.
Morrison, W. M. (2018). China’s economic rise: history, trends, challenges, and implications for the United States (Congressional Research Service). United States of America: United States Congress.
Nassehi, A. (2011). La teoría de la diferenciación funcional en el horizonte de sus críticas. MAD 24, 1–29.
Ogilvie, S. C. (Ed.). (1996). European proto-industrialization. Cambridge: Cambridge Uni-versity Press.
Ogilvie, S. C. (Ed.). (1997). The proto-industrialization debate. In: State corporatism and proto-industry: the Württemberg Black Forest, 1580–1797 (pp. 16-34). Cambridge: Cambridge Uni-versity Press.
Parker, C. H. (2015). Entrepreneurs, families, and companies. In: J. H. Bentley, M. E. Wiesner-Hanks, y S. Subrahmanyam (eds.), The Cam-bridge world history: volume 6. The construction of a global world, 1400–1800 (pp. 190-212). Cam-bridge: Cambridge University Press.
Paul, R. (2010). End the Fed. New York: Grand Cen-tral Publishing.
Peattie, M. R. 1(989). The Japanese colonial empire, 1895–1945. In P. Duus (ed.), The Cambridge his-tory of Japan: volume 6. The Twentieth Century (pp. 215-270). Cambridge: Cambridge University Press.
Perdue, P. C. (2009). China marches West: the Qing conquest of Central Eurasia. Cambridge, Mass: Harvard University Press.
Pomeranz, K. (2000). The Great Divergence: China, Europe, and the making of the modern world economy. New Jersey: Princeton University Press.
Pomeranz, K., y Topik, S. (2017). The world that trade created: society, culture, and the world economy, 1400 to the Present. New York: Routledge.
Prakash, O. (1994). Precious metals and commerce: the Dutch East India Company in the Indian Ocean trade. USA: Variorum.
Robins, N. (2006). The corporation that changed the world: how the East India Company shaped the modern mul-tinational. Hyderabad, India: Pluto Press.
Rosenthal, J.-L., y Wong, R. B. (2011). Before and beyond divergence: the politics of economic change in China and Europe. Cambridge, Mass: Harvard University Press.
Sanchez-Sibony, O. (2014). Capitalism’s fellow trav-eler: the Soviet Union, Bretton Woods, and the Cold War, 1944–1958. Comparative Studies in So-ciety and History, 56(2), 290–319.
Schimank, U. (2013). La sociedad moderna: una sociedad capitalista funcionalmente diferencia-da. MAD 28, 1–22.
Simmel, G. (2003). Filosofía del dinero. Granada: Co-mares.
So, B. K. L. (2012). The economy of Lower Yangzi Delta in late imperial China: Connecting money, markets, and institutions. New York: Routledge.
Sugihara, K., y Wong, R. B. (2015). Industrious revolutions in early modern world history. In: J. H. Bentley, M. E. Wiesner-Hanks, y S. Subrahmanyam (eds.), The Cambridge world histo-ry: Volume 6. The construction of a global world, 1400–1800 (pp. 283-310). Cambridge: Cam-bridge University Press.
Teichova, A., Hentenryk, G. K., y Ziegler, D. (eds.). (1997). Banking, trade and industry: Europe, Amer-ica and Asia from the Thirteenth to the Twentieth Century. Cambridge: Cambridge University Press.
Tracy, J. D. (2015). Dutch and English trade to the East: the Indian Ocean and the Levant, to about 1700. In: J. H. Bentley, M. E. Wiesner-Hanks, y S. Subrahmanyam (eds.), The Cam-bridge world history: Volume 6. The construction of a global world, 1400–1800 (pp. 240-262). Cam-bridge: Cambridge University Press.
Trivellato, F. (2015). The organization of trade in Europe and Asia, 1400–1800. In J. H. Bentley, M. E. Wiesner-Hanks, y S. Subrahmanyam (eds.), The Cambridge world history: Volume 6. The construction of a global world, 1400–1800 (pp. 160-189). Cambridge: Cambridge University Press.
Tymoigne, E., y Wray, L. R. (2013). Modern money theory 101: a reply to critics. Levy Economics In-stitute of Bard College. Working Paper, (778), 1–57.
Tyrell, H. (1978). Anfragen an die Theorie der gesell-schaftlichen Differenzierung. Zeitschrift für Sozi-ologie 7(2), 175–193.
Wallerstein, I. (2011). The modern World-System I: capitalist agriculture and the origins of the European world-economy in the Sixteenth Century. California: University of California Press.
Yago, K., Asai, Y., y Itoh, M. (eds.). (2015). History of the IMF: organization, policy, and market. Tokyo: Springer Japan.
Zhang, L. (2009). China’s policy responses to the global financial crisis: efficacy and risks. In: Global Financial Governance: Challenges and Region-al Responses. Conference in Berlin.
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