World Market, Capitalist, the sphere of exchange among capitalist countries linked by foreign trade and other forms of economic relations, based on the capitalist international division of labour (see Division of Labour, Capitalist International). It emerged in the 16th-17th centuries, in the period of the primitive accumulation of capital. The world market was responsible for the triumph of the capitalist mode of production and the development of large-scale capitalist industry, which, in its turn, created the tendency to internationalise production and exchange, develop flexible international economic ties, expand the international division of labour. Its formation was completed at the stage of imperialism. In the attempt to receive highest profits, monopolies conclude agreements among themselves to divide the world markets of the most important goods. The division of the world market of industrial raw materials between the monopolies or the economic division of the world became the most important trend of imperialism. Lenin used the name “ supermonopoly” to describe the agreement on the division of world commodity markets by the biggest monopolies. The economic laws of capitalism operating in the world capitalist economic system also determine the laws of the development of the capitalist world market. Domination and subjugation, and the economic enslavement of economically less developed countries by imperialist states are characteristic of it. The economic law of anarchy and competition operates on the world capitalist market. There is a fierce struggle between the imperialist powers and monopolies for spheres to 395 invest their capital, for markets and sources of raw materials. The operation of the law of the uneven economic and political development of capitalism in the age of imperialism and the aggravation of market problems lead to acute competitive struggle to redivide markets and spheres of influence. In the period of the general crisis of capitalism, the formation of the world socialist economic system a world socialist market (see World Market, Socialist) has appeared alongside the capitalist world market with fundamentally new features. There now exists a world market with trade in commodities manufactured hi the countries of the two world social systems. The narrowing of the sphere of capitalist exploitation, the fact that many countries have fallen away from capitalism and chose socialist development, and the disintegration of the colonial system aggravate contradictions on the capitalist world market. Imperialism tries to resolve them by the international state-monopoly redivision of the capitalist market, in which capitalist economic integration plays an important role (see Integration, Economic Capitalist). Since World War II amalgamations of the capitalist states have emerged, such as the European Economic Community, European Free Trade Association. However, all the attempts by the governments of capitalist countries to ease inter-imperialist contradictions have failed. Differences arise in new forms and contradictions flare up with new force.