Capitalism’s phases share general laws but differ in what is conjuncturally specific.

Evidence

But I think a conjunctural understanding of what is specific about each of those phases, what is specific about merchant capital that is not specific about, not the same as, industrial capital—what’s interesting about Fordist capital that is not the same as global capital? Of course, the reason why I refer to capital is because this is something that I learned from Marx: surprisingly not the Marx most people think about, because they assume that Marx unfolded the laws of movement of capitalism, which are going to be always the same. In some ways yes, and in some ways no. At that level of generality, capitalism in the fifteenth century, merchant capital, was the same as global capitalism. But at the level of the conjuncture, they are not the same. — Stuart Hall, Essential Essays, Volume 2, 1069

Categorization

• DEFINE: Defines the conjuncture in contrast to the long-term structural level: same generality, different specificity.
• XREF: The conjuncture/structural distinction is central to Gramscian hegemony analysis, which downstream Islamophobia readings will assume.
• QUESTION: Hall references his essay on Marx’s 1857 Grundrisse ‘Introduction’ — worth locating for the fuller statement of this conjunctural method.