SOCIOL 2R03 Lecture Notes - Lecture 6: World-Systems Theory, Social Inequality, Romanticism
8 May 2016
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Document Summary
New world giving rise to very unequal system. Relationship in which certain industrialized nations (us, germany, japan ) and their global corporations dominate the core of the system. Semi-periphery are countries with more marginal economic status. Poor-developing regions of asia, africa, latin america on the periphery of the world systems order. Individuals benefit from social inequality (prestige, power, wealth) Shifts in economic policy: shift in the developing world where instead of producing for your nation, your producing for the export market (international selling) Markets work best under conditions of relative equality, however they tend to produce extreme inequality. The battle of competition is fought by cheapening of commodities. The cheapness of commodities depends, cetris paribus, on the productiveness of labour, and this again on the scale of production. Therefore the larger capitals beat the smaller (marx"s capital, 1867) Markets tend to break down over time, as many have greater power and take over these smaller companies.
