Argues that the poor / periphery countries remain this way due to colonialism, in which terms of trade were unequal, labor remained unskilled and low-paid, and profit was extracted from colonies (Circular and cumulative causation.)
Development of core countries is dependent on the underdevelopment of periphery countries
Imports tend to be high-value goods from the core
Criticism of dependency theory – sweeping treatment of all peripheral territory
World Systems Theory: dynamic capitalist relations, hegemonic power
How does the core-periphery model and World Systems Theory apply to development issues?
The world has core, semi periphery, and periphery areas.
Individual countries need to be viewed in the context of their place within the world economic system.