World Systems Theory • This Wallerstein’s modern theory of capitalism—a theory that is 500 years old and evolving—6 responses to change • 1. lowering production by hiring low wage people • 2. getting raw materials at lowest price • 3. creating new products • 4. improving existing products • 5. expanding the world boundaries with new markets • 6. offering higher wages or credit to get new customers World Systems Theory • Three types of economies
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This note was uploaded on 11/22/2011 for the course SCIE SYG2000 taught by Professor Bernhardt during the Fall '10 term at Broward College.