IMMANUEL WALLERSTEIN'S WORLD SYSTEM THEORY

World-systems analysis is not a theory, but an approach to social analysis and social change developed, among others by the Immanuel Wallerstein. Professor Wallerstein writes in three domains of world-systems analysis: the historical development of the modern world-system; the contemporary crisis of the capitalist world-economy; the structures of knowledge. The American anlyst rejects the notion of a "Third World", claiming there is only one world connected by a complex network of economic exchange relationship. Our world system is characterized by mechanisms which bring about a redistribution of resources from the periphery to the core. His analytical approach has made a significant impact and established an institutional base devoted to the general approach.