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4 Tutorials that teach Capitalist World Economy
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Capitalist World Economy

Capitalist World Economy

Author: Paul Hannan

This lesson will examine the contribution of Immanuel Wallerstein and the concept of capitalist world economy.

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Terms to Know
Capitalist World Economy (World Systems Theory)

A theory that holds that core countries are intimately connected with peripheral and semi-peripheral countries in a world system, and that the core exploits the periphery.

Core Countries

Powerful countries that economically, politically, and culturally control most of the world system.

Immanuel Wallerstein

American sociologist who developed World Systems Theory (Capitalist World Economy) to explain global economic stratification.

Periphery Countries

Weak countries that have been integrated into the world system in a dependent position.

Semi-Periphery Countries

Countries in the middle that benefit from close relationships with core countries in the exploitation of periphery countries.