Introduction and historical overview: what is globalization? nd, 2016. 1860s (karl marx, capitalist expansion) talked about the pressures that capitalists face so they can expand their markets (around the world) and raising profits. 1950s (talcott parsons, modernization theory) mt suggested that all societies will inevitably follow the same path of economic, social and cultural development achieved by the us: later theoretical ideas. 1970s (immanuel wallerstein, world-systems theory) took broader approach argued that inequality exists globally in the capitalist world system . 1980s (the concept of globalization) appeared in an article that talked about expansion of global markets by the 1990s sociologists and other scholars began talking about globalization and tried to conceptualize it, began to see different types of globalization. Economic globalization: what is economic globalization? th, 2016. Wallerstein did not use the term globalization, he was addressing issues that is connected to.