Immanuel Wallerstein, in this reading did comparative analysis
on the World System. He explained the several phases of construction of world
economy. In which, he went through how capitalist economy emerged in European states,
the stage of worldwide recession in world economy, conversion of world economy from
agricultural capitalist system to industrial capitalist system, and in the
last, the change in world economy after World War I. He established the concept
of structural position of world economy before describing the historical events
that effects the development of world economy. He maintains that structural position
has states divided into three hierarchical positions according to their
capabilities namely core, semi-periphery and periphery.
This is a weak post. Not only is it late and only 110 words, but it is also just one paragraph. While you do an okay job of summarizing some of Wallerstein's key points, you don't really provide analysis on it. Please try to provide a more holistic post next time.
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