Critical Analysis of Wallerstein's World System Theory

World System Theory- By Wallerstein’s

CRITICAL ANALYSIS
Table of Contents
Introduction................................................................................................................................2
World System Theory................................................................................................................2
Origin.........................................................................................................................................3
Characteristics............................................................................................................................3
Capitalism..................................................................................................................................4
Criticisms...................................................................................................................................5
Impacts.......................................................................................................................................6
Developments.............................................................................................................................7
Conclusion..................................................................................................................................8
References..................................................................................................................................9
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CRITICAL ANALYSIS
Introduction
In this critical analysis, the discussion will be based on Immanuel Wallerstein’s Theory. It
will be evaluated on the basis of its biases and its justification towards its analysis. It will also
focus on the theory’s assertions along with its criticism, impacts, new developments that took
place regarding this theory and its characteristics will be analysed as well along with the
different views of scholars in reference to this theory will be used as a case study.
World System Theory
The World System Theory is an innovative invention of the American Sociologist ‘Immanuel
Wallerstein’ which emerged in the year 1974. This theory relates to the global economy of
the world. The positive changes took place in the modern world are a result of the
contributions made by this theory. It eventually focused on the different aspect of changes
that took place in Western Europe since many years ago during significant developments
regarding the economic state in the country. This system was mainly observed in all those
places which were influenced by the societies of agriculture (Reinsberg, Kentikelenis, Stubbs,
and King, 2019). All the societies which were connected with such system were much
independent in themselves, and so there was no existence of goods exchanged amongst them.
The division of the world by this theory was on the basis of three types; i.e. the core, the
semi-periphery, and the periphery. The core related to those countries which were
economically advanced and developed such as the United States of America, Western
Europe, and Japan. The semi-periphery comprised of all those countries of Asia. Then lastly,
the countries which were wealthy in resources and highly under-developed like the countries
of Africa and Latin America was under the peripheral region.
The World System Theory is a structural approach, not an exact theory which intends to
analyze and interprets all the social changes in regard to all the countries on a macro-scale
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CRITICAL ANALYSIS
level. However, this theory understands the under development which especially took place
in Latin America. It determines all the factors of a country in terms of socio, religious,
political and cultural as a combination of materialist theory along with economic and analysis
of its system. This theory is an assessment of capitalism where it was found under the
Annales School, the Marxist tradition and the dependence theory (Larsen–Freeman, 2019).
Thereby, the reason for how the today’s world is dependent upon its internal and external
factors.
Origin
This theory was influenced by the dependency theory which was originated by Neo-Marxist.
It is stated that the economic expansion and its popularization was established at the end of
World War II with an intention to promote the economic development and the stability of the
countries. Other influences on the world system theory came from many scholars such as
Joseph Schumpeter, Karl Polanyi and Nikolai Kondratiev who believed in the three basic
modes of concept which included the market modes, reciprocal and the redistributive.
According to Wallerstein, the capitalist world economy is a progressive stage which includes
the highest number of the population of the world.
Characteristics
The World System Theory is an analysis which states that capitalism as a kind of historical
system which has a combination of employment forms within a functioning system. Most of
the countries do not have their own economies but on the other hand, can be considered as a
part of the world economy. It works as a three-division of labour which is based upon the
core, the semi-peripheral and the peripheral zone (Reinsberg, Kentikelenis, Stubbs, and King,
2019). In accordance to the core zone, all the successful activities and major production take
place along with the division of labour and such countries are termed as free countries that
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