Today, this dynamic and transnational expansion of capital has become a much clearer and full-fledged reality. as we have analyzed in previous chapters of this study, the increasingly transnational development and accumulation of capital during recent decades entail a rapid transnationalization and globalization of all forms and circuits of capital, including financial, productive and commodity capital. it also implies an increasing transnationalization of institutional, regulatory

and social control mechanisms, as well as the development of an emerging transnational capitalist state (Tns).1 as we have stressed, nation-states have played an active role in promoting the development and global expansion of capital, but more crucially it was the development of capital, its transnationalization and its specific needs that have largely determined a significant transformation of existing nation-states and the emerging Tns. This radical restructuring and transformation of contemporary capitalism and its state institutions, constituting the basis of the emerging new stage of totalitarian capitalism, has been partly the result of a strategic response to a protracted overaccumulation crisis since the 1970s. it has important sociopolitical implications insofar as it implies a largely transnational formation and consolidation of social classes and elevates the transnational class struggle between capital and labour to a prominent role, compared to international conflicts that were more important in the previous stage of capitalism.