Chapter 14 Flashcards
The world systems
The world system and relations among countries within it have been shaped by capitalist world economy
Capitalist world economy
World system committed to production for sale or exchange with the object of maximizing profits
Capital
Wealth invested with the intent of producing profit
World system theory
The idea that a discernible social system, based on wealth and power differentials, transcends individual countries
Core
The dominant position in the world system; nations with advanced systems of production
Semiperiphery
The position in the world system intermediate between core and periphery
Periphery
The weakest structural and economic position in the world system
The emergence of the world system
By the 15th century, Europeans profited from transoceanic trade-oriented economy
Industrial Revolution
Historic transformation (in Europe) of traditional into modern societies through industrialization of their economies
Causes of the industrial revolution
Began with cotton products, iron, and pottery –> Widely used items whose manufacture could be broken down into simple routine motions that machines could perform
Socioeconomic changes associated with the industrial revolution
Initially, industrialization in England raised overall standard of living
Industrial Stratification
Marx and Weber –> Socioeconomic stratification as a sharp division between two opposed classes
Bourgeoisie
Owned the means of production
Working class (proletariat)
People who had to sell their labor to survive
Proletariantization
The separation of workers from the means of production