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According to Wallerstein, the unique qualities of the modern world system include its capitalistic nature, its truly global nature, and the fact that it is a world economy that has not become politically unified into a world empire.
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]
The modern world-system has a multi-state political structure (the interstate system) and therefore its division of labor is international division of labor. 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.
She was especially well known for her monograph Before European Hegemony: The World System A.D. 1250-1350 wherein she argued that a pre-modern world system extending across Eurasia existed in the 13th century, prior to the formation of the modern world-system identified by Immanuel Wallerstein.
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 ...
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).
Immanuel Wallerstein, The Modern World System II: Mercantilism and the Consolidation of the European World-Economy, 1600–1750, Academic Press; (June 1980). Immanuel Wallerstein, The Modern World System III: The Second Era of Great Expansion of the Capitalist World-Economy, 1730–1840s.