puts the crisis of the 1930s at the heart of what must be reformed.
Quigley says that the rise of civilizations are powered by what he calls “instruments of expansion”. For the Classical civilization, for example, it was slavery.
Western Civilization has had three periods of crisis and reformed itself three time going through three instruments of expansion: commercial capitalism, state mercantilism, industrial capitalism, we entered into the stage of monopoly capitalism around 1900 which produced the disaster of the 1930s and resulted in what he calls a “pluralist economy”. Whether this will be a successful reform of monopoly capitalism is still up in the air.