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.