The third element of world-systems analysis has been a certain view of one particular world-system, the one in which we live, the capitalist world-economy. Let me list the various elements that have been explicated. Some of these were borrowed, directly or in modified form, from other earlier perspectives. Some others were relatively new, But it has been the combination of these arguments that has come to be associated with world-systems analysis. I merely list now the characteristics presumed to be the description of the capitalist world-economy: