1.5 - World Systems Theory

Question 1

What are the four stages in the Kondratiev cycle?

Answer 1

1. Prosperity
2. Recession
3. Depression
4. Improvement

Question 2

How long does each Kondratiev cycle last?

Answer 2

50-60 years

Question 3

What have been the major features of the Kondratiev cycles in the past?

Answer 3

Steam engine
Railways and steel
Petrochemical automobiles
Information technology

Question 4

What is the core belief to World Systems theory?

Answer 4

World systems theory assumes you have a 3-tier world where most change comes through societal flux in semi periphery countries

Question 5

What are the three tiers in World Systems theory?

Answer 5

Core
Semi-periphery
Perihpery

Question 6

Why are the USA and UK in decline/recession?

Answer 6

decreased spending in the US and UK means investment and borrowing has slowed
there has been increased unemployment and less
inequality in lifestyle

Question 7

How can a country initiate economic growth?

Answer 7

Huge investment in public sector projects / innovation
is is a good way to create jobs and helps trigger economic growth.
E.g. High speed rail in the UK

Question 8

What is the key difference between World Systems theory and dependency theory?

Answer 8

Countries occupy a “core,” “periphery role” or a middle ground semi-periphery. These roles can be mutually beneficial and the roles of a specific state can change over time. Whereas Dependency Theory says the poor periphery countries are exploited for the benefit of enriching core countries.
World Systems Theory acknowledges the exploitative nature in Capitalism but also recognizes that the world isn’t as simple as rich country vs poor country and suggests countries can move out of the periphery.

Question 9

Which countries are in the semi-periphery?

Answer 9

Mexico, Brazil and South Africa - they are large and powerful states in the third world with intermediate levels of economic development.