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In his terminology, the core is the developed, industrialized part of the world, and the periphery is the "underdeveloped", typically raw materials-exporting, poor part of the world; the market being the means by which the core exploits the periphery. Apart from them, Wallerstein defines four temporal features of the world system.
A model of a core-periphery system like that used by Wallerstein. Wallerstein's first volume on world-systems theory (The Modern World System, 1974) was predominantly written during a year at the Center for Advanced Study in the Behavioral Sciences (now affiliated with Stanford University). [3]
To Wallerstein, many nations do not fit into one of these two categories, so he proposed the idea of a semi-periphery as an in between state within his model. [19] In this model, the semi-periphery is industrialized, but with less sophistication of technology than in the core; and it does not control finances.
Wallerstein stresses the importance of hyphen in the title: "... In English, the hyphen is essential to indicate these concepts. "World system" without a hyphen suggests that there has been only one world-system in the history of the world." [3] There is an ongoing debate among scholars whether we can talk about multiple world-systems.
The first consists of a cohesive core sub-graph in which the nodes are highly interconnected, and the second is made up of a peripheral set of nodes that is loosely connected to the core. In an ideal core–periphery matrix, core nodes are adjacent to other core nodes and to some peripheral nodes while peripheral nodes are not connected with ...
Wallerstein did not treat capitalism as a discrete mode of production, but rather as the "indivisible phenomenon" behind the world-system. [93] The world-system is divided into three tiers of states, the core, the periphery, and the semi-periphery countries.
Although periphery nations are exploited by core countries, there is a purpose to the unequal exchanges of goods. For instance, the core countries have an incentive to gain a profit and this enables the world market to further grow. At times, there is a change in the balance of trade between the periphery and core countries.
Classification of the countries according to the world-system analysis of I. Wallerstein: core, semi-periphery and periphery. Russian Страны мира в соответствии мир-системным анализом И.