Recent changes in the world economy seem to underline that politics in general not to speak of anti-Semitic movements hardly have the capacity of influencing and changing economic structures and processes. Comparing post 1968 developments with the restauration period after 1948-49 the author in a sense argues for the contrary: the so-called structural changes in the world economy and the international political regime after 1968 are to a considerable extent tp be interpreted as a new reactionary offensive of the capital after the defeat of teh movement of 1968.