How does world-systems theory view the world? Describe the categories that the world-systems theory uses to divide up the world. Further, how do core nations benefit from the periphery?

Question

What will be an ideal response?

Answer 1

Answers will vary but should identify that world-systems theory sees the world as a single economic system with two main categories: the core and the periphery, which are defined in relationship to the economy. The core includes the wealthiest industrialized countries. The periphery includes countries dependent on (and exploited by) the core nation-states. The core includes countries such as the United States, Australia, and Japan; the periphery includes most African countries, as well as parts of Asia, the Middle East, and South America. Some countries are in the "semiperiphery," such as Eastern Europe and Thailand. Countries became categorized based on colonization during its early phases. Core nations benefit from periphery by exploiting their labor and natural resources. They can keep the periphery focused on narrow, export-oriented economies, instead of developing industrial capacity and producing goods for the domestic market. The periphery's cheap labor helps corporations in the core make stronger profits. The power imbalance allows the core to dictate loan terms to the periphery.