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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.
And this is the periphery listing according to Babones (2005), who notes that this list is composed of countries that "have been consistently classified into a single one of the three zones [core, semi-periphery or periphery] of the world economy over the entire 28-year study period". [22]
The semi-periphery exists because it needs to divide the economic power between the core and the periphery. 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 ...
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 ...
A world map of countries by trading status in late 20th century using the world system differentiation into core countries (blue), semi-periphery countries (yellow) and periphery countries (red), based on the list in Dunn, Kawano, Brewer (2000) Developed countries are shown in blue (according to the International Monetary Fund, as of 2008).
The theory of the interstate system holds that all states are defined through their relationship to other states or through participation in the world economy, and that divisions between states help to divide the world into a core, periphery and semi-periphery. [1] [2]
In the modern world-system, the division of labor consists of three zones according to the prevalence of profitable industries or activities: core, semiperiphery, and periphery. Countries tend to fall into one or another of these interdependent zones core countries, semi-periphery countries and the periphery countries.
It follows that world capitalism, the world system of production, assumes in our times the following aspect: a few consolidated, organized economic bodies (‘the great civilized powers’) on the one hand, and a periphery of underdeveloped countries with a semi-agrarian or agrarian system on the other. —