The Unmaking of Global Capitalism? internationalization of production and the national firmament of states. The other is that though the American state has been indispensable to overriding, or at least containing, that contradiction, its declining economic and administrative capacity to do so poses a threat to the viability of the globalization project. Against this, in The Making of Global Capitalism: The Political Economy of American Empire (Panitch and Gindin 2012), the late Leo Panitch and I argued, almost a decade ago, that prevailing notions of an inevitable inconsistency between the ...