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World-systems theory traces emerged in the 1970s. [3] Its roots can be found in sociology, but it has developed into a highly interdisciplinary field. [4] World-systems theory was aiming to replace modernization theory, which Wallerstein criticised for three reasons: [4] its focus on the nation state as the only unit of analysis
The most well-known version of the world-system approach has been developed by Immanuel Wallerstein. A world-system is a crucial element of the world-system theory, a multidisciplinary, macro-scale approach to world history and social change.
Immanuel Maurice Wallerstein (/ ˈ w ɔː l ər s t iː n /; [2] September 28, 1930 – August 31, 2019) was an American sociologist and economic historian.He is perhaps best known for his development in sociology of world-systems approach. [3]
Semi-periphery, referred to as the middle class by Wallerstein, is what makes the capitalist world function because it is much like the sociological structural functionalism theory, where norms, customs, traditions, and institutions act as "organs" that work toward the proper functioning of the "body" as a whole. Without these industrializing ...
Wallerstein developed the World Systems Theory utilizing the Dependence theory along with the ideas of Marx and the Annales School. [18] This theory postulates a third category of countries, the semi-periphery, intermediate between the core and periphery. Wallerstein believed in a tri-modal rather than a bi-modal system because he viewed the ...
World systems theory follows the logic that international wars or multinational financial disputes can be explained as attempts to change a location within the global market for a specific state or groups of states; these changes can have the objective to gain more control over the global market (to become a core country), while causing another ...
Immanuel Wallerstein wrote that the development of a capitalist world-economy created all of the major institutions of the modern world, including social classes, nations, households and states. These institutions also created each other, as nations, classes, and households came to be defined by their relations to the state, and were ...
True hegemonies tend to be marked by free-trade, and political and economic liberalism, and their rise and decline can be explained through Kondratiev waves, which also correlate to periods of expansion and stagnation in the world system. [96] Wallerstein helped to establish world-systems theory as an accepted school of thought, with its own ...