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What is world system theory in 10 sentences
What is world system theory in 10 sentences
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Answer:
World-system theory, developed by sociologist Immanuel Wallerstein, offers a framework for understanding the global economic and political structures. It posits that the world is divided into a core, periphery, and semi-periphery. The core nations, including the United States and Western European countries, dominate and exploit the peripheral and semi-peripheral nations. Peripheral nations often provide cheap labor and raw materials, while core nations control the production and distribution of goods, resulting in unequal economic relations. Semi-peripheral nations, such as Brazil and India, hold intermediate positions, benefiting somewhat from the global system but also exploited by core nations. World-system theory emphasizes the historical development of capitalism and colonialism as central to understanding global inequalities. It highlights the interconnectedness of nations through economic exchange and dependency relationships. The theory also considers how political and military power reinforce economic dominance, with core nations often exerting influence through institutions like the World Bank and the International Monetary Fund. Over time, world-system theory suggests that the global system undergoes structural changes, but the core-periphery hierarchy persists, perpetuating disparities between nations.
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