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Flash Cards - WST What are the three Basic elements of World Systems Theory?

-Single Capitalist World Economy -A System of Multiple Sates -3 Tier Hierarchy/2 Processes Capitalist mode of production --> Workers do not consume all they produce instead production is for exchange in world market -Causes Specilization -States protect those without power: Workers -States protect those with power: Capitalists -Defacto (unrecognized) and de jure states (recognized) -Core: Rich --> core process with high capital inputs, high tech goods, highly skilled labor -Semi-Periphery --> Mix of core and peripheral process (state led development policies, critique: there can be regional differences within countries) -Periphery: Poor, periphery process through exploiting the environment, peoples and labor. (resource economies) Specialization meaning although all places are part of the same global capitalist economy, different places play different economic roles. (Geography of Capitalism) Economic long cycles drive the whole process in the modern capitalism world economy -Each wave lasts 50 years -Each phase 25 years -New Technology lead innovation sector -Increased production efficiency -Expansion in investments -Financialization/Free Trade

What is a single capitalist world economy?

What is a system of multiple states(4)

What is the 3 Tier/ 2 process model?

What is the Global Division of Labor?

What are Kondratieff Waves, How long are they, and how long are phases

What are the 4 processes of A phase growth?

What are the 4 processes of B phase decline

-Production costs reduced by relocation -Mechanization (overproduction) -Economic Disparities Rise -Flux period (great change in economy) innovation, production, trade, finance, cultural/political -Dutch Half Century (1625-1670): Dutch traders made vast profits exploiting the indies -United Kingdom Half Century (1830-1870): Political, Military, Economic power -US Quarter Century (1945-1970) Following WWII, Rise of NYC and Hollywood

5 stags of gaining hegemony

Wallerstien's 3 short Hegemonies

Does Wallerstein focus his hegemony on seapower? Did Wallerstein come up with the 3 Periphery theory

NO economic power

YES and First world systems theory

What are Wallys critiques (4)

-Marxist: capitalism isnt about trade but class production and relation -****Deductive: Model is too overarching and gets history wrong -Characterizes states as semi-peripheral oversimplifying reality (misses differences in states) -Anthropological Critique: Leaves out cultural, ethnic aspects giving little attention to social factors) 1974-89 -Ocean location -Strong Economy -Powerful Navy -Strong Government -No civil strife -Historically Determinist -Seapower is superficial feature of economic

When was Wally writing?

What are Modelski's conditions for Global Power?

What are Modelski's critiques? (4)

power -Isnt objective (advocates for US because of Funding) -Is Sea power important with NUKES? Agendas: Wally attacks global capitalism and Modelski promotes US foreign policy Ideology: Wally is a radical/structuralist (Marx) and Modelski is a realist (Hobbs) Approach: Wally is deductive (starting with theory and picking events) and Modelski is inductive (starting with events to shape a theory) Hegemony: Modelski is Naval power where Wally is economic power

How are Modelski and Wally different? (Agendas, Ideology, Approach, Factors, Hegemony)