World Systems Theory (Marxism/Radicalism)

Question 1

World Systems theory

Answer 1

This theory is associated with the work of Immanuel Wallerstein from the early 1970’s onwards and developed from Dependency theory, sharing with it a basis in Marxism. World systems theory describes the world as consisting of a single unified capitalist system: the modern world system (MWS). This comprises a hierarchy of countries from the core(developed), through the semi-periphery(brazil, south africa), to the periphery(least developed).

The MWS came into existence as European trade expanded in the last fifteenth and early sixteenth centrues, and because of its global scale, was a new kind of social system the world has not experienced before.

The proccesses by which underdeveloped countries are exploited are the same as in dependency theory, with an emphasis on economic factors, and on external rather than internal factors.

However the MWS is a dynamic system and countries can move up and down the hierarchy. This is because capitalism does not respect national borders; capital will move to whereever money is to be made, so the MWS continually changes as capitalism searches for profit.

Question 2

Capitalism

Answer 2

An economic system with the following key features:
1. Most production is initiated & undertaken by private companies who aim to generate profit from this activity.

2. Most work is performed by individuals who work for someone else in return for money(wages or salaries)

Question 3

The Semi-periphery

Answer 3

Semi-periphery countries occupy a space somewhere between the core and the periphery. Such countries may aspire to core membership or they may be former members of the core whose economic development has stalled or declined. Either way, such regions represent signigicant elements in the world system since, although they are frequently exploited by core regions, they in turn frequently attempt to exploit those on the periphery of the world economy. The semi periphery is industrialised, but with less sophistication of technology than in the core; and it does not control finacnes. World system theory says the semi-periphery countries are exploited by the core countries, but they also exploit the periphery countries.

In the theory, because they exploit as well as being exploited, they are not fully on the same side as the periphery countries. Therefore as there is no unity amongst the exploited it means that united action to change the system is difficult.