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A historical essay on old regimes and modern states In this lively and wide-ranging book, Ellen Meiksins Wood argues that what is supposed to have epitomized bourgeois modernity, especially the emergence of a "modern" state and political culture in Continental Europe, signaled the persistence of pre-capitalist social property relations. Conversely, the absence of a "modern" state and political discourse in England testified to the presence of a well-developed capitalism. The fundamental flaws in the British economy are not just the symptoms of arrested development but the contradictions of the capitalist system itself. Britain today, Wood maintains, is the most thoroughly capitalist culture in Europe.