Impact Of Globalization On The World System - 969 Words

Thougts on Globalization 1. In order to identify the three types of nations discussed in the texbook, I would like to first start by defining what the world system theory is. â€Å"The modern world system is a capitalist global economy which contains multiple states and a single dominant international division of labor† (Doob, 2008). This definition helps us understand that the economy is not scattered accross the globe equally between all countries, instead only a few countries are posses a sucessful industrial, economical, and ploitical history. Being born and raised in Albania, and moving here to the US only 3 years ago has given me the opportunity to view these concepts clearly. The three naions are divided in this way- the core nation, the semiperipheral nation, and the peripheral nation. Or the rich, the middle income, and the poor. The Journal of World Systems Research explains â€Å"World-system dynamics create persistent cross-national differences in levels of economic development, including levels of income and domestic economic structure, which in turn create divergent levels of income inequality† (Graigner Kwon Mahutga, 2013). The core nation is the rich nation. The nation(s) which has managed to obtain a progressive industrial history, influences in the world system both economically and politically. Enjoys a high standard lifestyle, and has a longer life expectancy. The textbook mentions Western European, the US, Japan, Australia, and New Zealand. I would like toShow MoreRelatedAdvantages and Disadvantages of Global Integration1476 Words   |  6 PagesAND DISADVANTAGES Globalization is the process by which different societies, cultures, and regional economies integrate through a worldwide network of political ideas through transportation, communication, and trade. 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