Wallerstein's Economic Theory: States that more developed countries (all in the Northern Hemisphere with the exception of Australia and New Zealand) are the core, and that LDCs are the periphery. When looking at a polar map, this is shown with a circular view, and when looking at a flat map, this is divided by a north-south line.
Core-periphery: Core countries have high levels of development, a capacity at innovation and a convergence of trade flows. Periphery countries usually have less development and are poorer countries.
World-Systems Theory: (Immanuel Wallerstein's core-periphery model) three-tier structured theory (core, semi-periphery, periphery) proposing that social change in the developing world is linked to the economic activities of the developed world.
Core-periphery: Core countries have high levels of development, a capacity at innovation and a convergence of trade flows. Periphery countries usually have less development and are poorer countries.
World-Systems Theory: (Immanuel Wallerstein's core-periphery model) three-tier structured theory (core, semi-periphery, periphery) proposing that social change in the developing world is linked to the economic activities of the developed world.
Criticisms of WOrld System Theory (Wallerstein)
1. Over emphasized economic factors in political development
2. it is very state-centric
3. Does not account for how places move from one category to another
1. Over emphasized economic factors in political development
2. it is very state-centric
3. Does not account for how places move from one category to another