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What is World system theory Brief summary
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The world-system theory is a perspective in sociology and economics that analyzes global inequalities in economic and political power. Developed by Immanuel Wallerstein in the 1970s, this theory views the world as a single, integrated capitalist system with various countries related in a hierarchical structure.
At the core of the world-system are highly industrialized countries that dominate the global economic system. These core countries exploit the resources and cheap labor of peripheral countries, which are typically less developed and dependent on the core for trade and investments. Semi-peripheral countries occupy an intermediate position, benefiting from some core-country resources while exploiting peripheral countries.
World-system theory highlights the perpetuation of global inequality due to the uneven exchange of resources and the exploitation of labor. The theory also emphasizes the cyclical nature of the world-system, as countries can move between core, semi-peripheral, and peripheral positions over time. Consequently, world-system theory seeks to explain the persistence of poverty and underdevelopment in certain regions and the concentration of wealth and power in others.
At the core of the world-system are highly industrialized countries that dominate the global economic system. These core countries exploit the resources and cheap labor of peripheral countries, which are typically less developed and dependent on the core for trade and investments. Semi-peripheral countries occupy an intermediate position, benefiting from some core-country resources while exploiting peripheral countries.
World-system theory highlights the perpetuation of global inequality due to the uneven exchange of resources and the exploitation of labor. The theory also emphasizes the cyclical nature of the world-system, as countries can move between core, semi-peripheral, and peripheral positions over time. Consequently, world-system theory seeks to explain the persistence of poverty and underdevelopment in certain regions and the concentration of wealth and power in others.
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