How does world-systems theory view the world? Describe the categories that the world-systems theory uses to divide up the world, including examples that fit into each category. What is the dimension that separates these two categories from one another? How does one benefit from the other? What consequences does WST suggest for understanding the world?

Question

What will be an ideal response?

Answer 1

but should identifying 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 and the periphery are the countries that are 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, and parts of Asia, the Middle East, and South America. Some countries are in the “semiperiphery” such as Eastern Europe and Thailand. Countries ended up in their categories based on colonization during its early phases. Core nations benefit from periphery by exploiting their labor and natural resources. They are able to 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 the corporations in the core to make stronger profits, and the power imbalance allows the core to dictate loan terms to the periphery. Ultimately, WST suggests that you can only understand nations and their economic wealth by understanding them in their relative position within the world system and their current relationships to other countries.