Contemporary Global Economic Crisis a World-System Approach

Tere has been a common belief that COVID-19 pandemics and the war between Russia and Ukraine had crucial impact on the world economy and recent national and international reports supported this idea. Although both cases have negatively effected the world economy to some extent, it should be kept in mind that global financial meltdown was happened between 2008-2010 and the great stagnation started thereafter has been continuing since then. Thus, the existing economic crisis can only be analyzed in the framework of “world system analyses” which was developed by some prominent scholars after the Second World War rather than short term data.