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Unformatted text preview: Ch.22: The World System and Colonialism The Modern World System: a world in which nations are economically and politically interdependent The Capitalist World Economy: a single world system committed to production for sale or exchange with the object of maximizing profits rather than supplying domestic needs A huge increase in international trade during and after the 15 th century led to the capitalist world economy Capital: wealth or resources invested in business, with the intent of using the means of production to make a profit World System Theory: the idea that an identifiable social system, based on wealth and power differentials, extends beyond individual countries The Three World System Positions: 1. Core: the dominant position in the world system Includes the strongest and most powerful nations The complexity of economic activities and the level of capital accumulation is the greatest 2. Semiperiphery: the intermediate between the core and the periphery Contemporary nations of the semiperiphery are industrialized: they export both industrial goods and commodities like core nations, but lack their power and economic dominance 3. Periphery: the worlds least privileged and powerful countries Economic activities are less mechanized than the semiperiphery, although there is some degree of industrialization Produces raw materials, agricultural commodities, and increasingly, human labor for export to the core and the semiperiphery Industrial Revolution: the historical transformation of traditional into modern societies through industrialization of the economy. (in Europe, after 1750) Industrialization required capital for investment The established system of transoceanic trade and commerce supplied this capital from the enormous profits it generated Industrialization increased production in both farming and manufacturing Causes of the Industrial Revolution: Began with cotton products, iron and pottery These were widely used goods whose manufacture could be broken down into simple routine motions that machines could perform The industrial revolution began in England England had to industrialize to meet mounting demand for staples at home and in the colonies As a result of industrialization Britains population doubled during the 18 th century Socioeconomic Effects of Industrialization: English national income tripled, but prosperity was uneven Industrial Stratification:...
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This note was uploaded on 02/09/2012 for the course ANTHRO 101 taught by Professor Staff during the Fall '09 term at Emory.
- Fall '09