GLOBL 2 Lecture Notes - Lecture 7: Hegemony, Systems Theory, Capital Accumulation
Document Summary
Theories of economic globalization - populist revolution, threat of nuclear war. Capitalism has always been global - profit. Rise and fall of great powers - global dominance is not forever. Systems thinking - national economies must be understood by one another. Core: strong states with dominant economies; draw wealth from weaker states; control world economy (poor economies); (us, europe, japan, australia, new zealand); sells consumption goods to periphery; takes profit and goods from semiperiphery. Periphery: weak states with low levels of economic development - difficulty mobilizing due to poverty; unequal relationship with powerful wealthy nations (most of africa and. Semiperiphery: middle class; yields up wealth to core; extracts from periphery (china, India, korea, singapore) -> once might have been in the periphery = possibility of movement. Capitalist: requires consumers; endless accumulation of capital (forever-renewed profit) World-economy: exchange of goods, capital, and labor; many political units ( interstate system ) Interstate system - system of government (international vs national)
