Recent events impel us to rethink fundamentals: to bring political economy, historical materialist theory, state theory, and the theory of nations and national consciousness together, and to bear on the core questions: How mature is world capitalism today? What stadial — stage-theoretic — elements must be invoked to explain the present? A rigorous stadial approach to capitalist evolution suggests that, contrary to much popular wisdom, capitalism's conquest of the world is far from complete. This understanding does not mechanically postpone significant (...) social transformation; to the contrary, it points toward the possibility of getting a better fix on what is possible in the short term, so as to bring longer range goals into clearer focus and relevance. (shrink)