We could no more have a universal world market than we could have a system in which everyone who wasn't a capitalist was somehow able to to become a respectable, regularly paid wage laborer with access to adequate dental care. A world like that has never existed and never could exist. What's more, the moment that even the prospect that this might happen begins to materialize, the whole system starts to come apart.

Chapter Eleven, "Age of the Great Capitalist Empires", p. 355 - Debt: The First 5,000 Years (2011)