From The Art and Popular Culture Encyclopedia
"Immanuel Wallerstein characterised the world system as a set of mechanisms, which redistributes surplus value from the periphery to the core. In his terminology, the core is the developed, industrialized part of the world, and the periphery is the "underdeveloped", typically raw materials-exporting, poor part of the world; the market being the means by which the core exploits the periphery." --Sholem Stein
Industrialisation or industrialization is the period of social and economic change that transforms a human group from an agrarian society into an industrial society, involving the extensive re-organisation of an economy for the purpose of manufacturing.
- Division of labour
- Great Divergence
- Idea of Progress
- Mass production
- Newly industrialised country