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Immanuel wallerstein * As we know the literature on French revolution of last 30 years has reflected a gigantic battle between two school of thoughts. Social interpretation has built its analysis around the theme that French revolution was essentially a political revolution of bourgeoisie who were overthrowing a feudal ancient regime. A second camp has emerged in revisionist criticism of social interpretation. This camp sees the revolution as a political expansion of antidespotic libertarian demands. * French revolution catalyzed the ideological transformation of the capitalist world economy as a world-system and created three wholly new arenas or sets of cultural institutions. * The world bourgeoisie drew a conclusion from French revolution: Constant, short-run political change was inevitable and it was hopeless to maintain historical myth used by previous world systems, and indeed even by the capitalist world economy up to that point, that political change was exceptional, often short-lived, normally undesirable. It was...

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