One point is that there is a very clear geographical dimension to the recurrent cycles of material and financial expansion, but you can see this aspect only if you do not stay focused on one particular country—because then you see a totally different process. This is what most historians have been doing—they focus on a particular country, and trace developments there. Whereas in Braudel, the idea is precisely that the accumulation of capital jumps; and if you don’t jump with it, if you don’t follow it from place to place, you don’t see it. If you stay focused on England, or on France, you miss what matters most in the development of capitalism world-historically. You have to move with it to understand that the process of capitalist development is essentially this process of jumping from one condition, where what you’ve termed the ‘spatial fix’ has become too constraining, and competition is intensifying, to another one, where a new spatial fix of greater scale and scope enables the system to experience another period of material expansion. And then of course, at a certain point the cycle repeats itself.