What are the relationships between capitalism and modern sovereignty?

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1) What are the relationships between capitalism and modern sovereignty? When confronted with this question one finds that the paradigm of the chicken and the egg is very well suited. I mention this because sovereignty is linked to governance or the state; the state needs to have sovereignty over its nation. It is also irrefutable that the world today is predominantly capitalist. The question then becomes did the modern state emerge from capitalism or is capitalism the doctrine of modern the state? Or maybe better put to understand the relation ship between capitalism and modern sovereignty it is necessary to look at the development of the two thought the last few centuries. Ellen Wood and many others see the nation state a product of Capitalism. Modern Sovereignty has been development through an international Capitalist state system. This refers to Globalisation of sovereignty, which is the willingness of nation states to give up certain aspects of their sovereignty to international organizations. It is hard to have a discussion about sovereignty without mentioning Max Weber, because of his famous quote ‘a state is a human community that (successfully) claims the monopoly of the legitimate use of physical force within a given territory’ in his essay Politics and Vocation. This is the fundamental definition of a sovereign nation state. However this is not a sufficiently accurate definition of a modern nation state, McGrew and Held define a modern nation state as follows; (1) the state should have ‘fixed’ borders. (2) ‘claim to hold a monopoly on force’. (3) ‘a legal circumscribed structure of power’. (4) Democracy. All of these traits of the modern sovereign state have developed over recent history. Sovereignty and the ‘monopoly of force’ have always been connected, those who had the ability to inflict pain, or differently put, offer protection

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