West European society. Between 1 150-1300, crisis. According to Wholesalers, the feudal carols was probably precipitated by the conditions decreased agricultural productivity and contributed to an Increase in epidemics within the population. 4. -The Core 5. The core regions benefited the most from the capitalist world economy. For the period under discussion, much of northwestern Europe (England, France, Holland) developed as the first core region.
Politically, the states within this part of Europe developed strong central governments, extensive bureaucracies, and large mercenary armies. This permitted the local bourgeoisie to obtain control over benefit. As the rural population expanded, the small but increasing number of landless wage earners provided labor for farms and manufacturing activities. The switch from feudal obligations to money rents in the aftermath of the feudal crisis encouraged the rise of independent or yeoman farmers but squeezed out many other peasants off the land.
These impoverished peasants often moved to the cities, providing cheap labor essential for the growth in urban manufacturing. Agricultural productivity increased with the growing predominance of the commercially-oriented independent farmer, the rise of pastoralist, and improved farm technology. 6. —The Periphery 7. On the other end of the scale lay the peripheral zones. These areas lacked strong central governments or were controlled by other states, exported raw materials to the core, and relied on coercive labor practices. The core expropriated much of the capital surplus generated by the periphery through unequal trade relations.
Two areas, Eastern Europe (especially Poland) and Latin America, exhibited characteristics of peripheral regions. In Poland, kings lost power to the nobility as the region became prime exporter of wheat to the rest of Europe. To gain sufficient cheap and easily controlled labor, landlords forced rural workers into a “second serfdom” on their commercial estates. In Latin America, the Spanish and Portuguese conquests destroyed indigenous authority structures and replaced them with weak bureaucracies under the control of these European states. Powerful local landlords of Hipic origin became aristocratic capitalist farmers.
Enslavement of the native populations, the importation of African slaves, and the coercive labor practices such as the encomia and forced mine labor made possible the export of cheap raw trials to Europe. Labor systems in both peripheral areas differed from earlier forms in medieval Europe in that they were established to produce goods for a capitalist world economy and not merely for internal consumption. Furthermore, the aristocracy both in Eastern Europe and Latin America grew wealthy from their relationship with the world economy and could draw on the strength of a central core region to maintain control. . —The Semi-periphery 9. Between the two extremes lie the semi-peripheries. These areas represented either core regions in decline or peripheries attempting to improve their relative session in the world economic system. They often also served as buffers between the core and the peripheries. As such, semi-peripheries exhibited tensions between the central government and a strong local landed class. Good examples of declining cores that became semi-peripheries during the period under study are Portugal and Spain. Other semi-peripheries at this time were Italy, southern Germany, and southern France.
Economically, these regions retained limited but declining access to international banking and the production of high-cost high-quality manufactured goods. Unlike the core, however, they failed to predominate in international trade and thus did not benefit to the same extent as the core. With a weak capitalist rural economy, landlords in semi-peripheries resorted to sharecropping. This lessened the risk of crop failure for landowners, and made it possible at the same time to enjoy profits from the land as well as the prestige that went with landownership. 10.
According to Wholesalers, the semi-peripheries were exploited by the core but, as in peripheries themselves. Spain, for example, imported silver and gold from its American colonies, obtained largely through coercive labor practices, but most of this specie went to paying for manufactured goods from core countries such as England and France rather than encouraging the formation of a domestic manufacturing sector. 11. —External Areas 12. These areas maintained their own economic systems and, for the most part, managed to remain outside the modern world economy.
Russia fits this case well. Unlike Poland, Russian’s wheat served primarily to supply its internal market. It traded with Asia as well as Europe; internal commerce remained more important than trade with outside regions. Also, the considerable power of the Russian state helped regulate the economy and limited foreign commercial influence. 13. STAGES OF GROWTH 14. The development of the modern world economy lasted centuries, during which time different regions changed their relative position within this system.
Wholesalers divides the history of the capitalist world system into four stages, which for our purposes can be simplified and divided into two basic phases: 15. Stages 1 and 2: This period follows the rise of the modern world system between 1450-1670. When the Hapsburg Empire failed to convert the emerging world economy to a world empire, all the existing western European states attempted to strengthen their respective positions within the new world system. In order to accomplish this move, most of the states consolidated their internal political economic and social resources by: 16. ) Bureaucratically. This process aided the limited but growing power of the king. By increasing the state power to collect taxes, the kings eventually increased state power to borrow money and thereby further expand the state bureaucracy. At the end of this stage, the monarch had become the supreme power and instituted what has been called “absolute monarchy. 17. B) Homogeneities of the local population. To underline state involvement in the new capitalist system and encourage the rise of indigenous capitalist groups, many core states expelled minorities.
These independent capitalist groups, without deep rooted local ties, were perceived as threats to the development of strong core states. The Jews in England, Spain, and France were all expelled with the rise of absolute monarchy. Similarly, Protestants, who were often the merchants in Catholic countries, found they were targets of the Catholic Church. The Catholic Church, a trans-national institution, mound the development of capitalism and the strengthening of the state threatening. 18. C) Expansion of the militia to support the centralized monarchy and to protect the new state from invasions. 9. D) The concept of absolutism introduced at this time related to the relative independence of the monarch from previously established laws. This distinction freed the king from prior feudal laws. 20. E) Diversification of economic activities to maximize profits and strengthen the position of the local bourgeoisie. 21 . By 1640, northwestern European states secured their position as core states in the emerging economy. Spain and northern Italy declined to semi- peripheral status, while northeastern Europe and Iberian America became peripheral zones.
England gained ground steadily toward core status. 22. During this period, workers in Europe experienced a dramatic fall in wages. This wage fall characterized Italy and Flanders. The reason for this exception was that these cities were relatively older centers of trade, and the workers formed strong politico-economic groups. The resistance of workers broke down the ability of employers to accumulate the large surplus necessary for the advancement of capitalism. Meanwhile, employers in other parts of Europe profited from the wage lag by accumulating large surpluses for investment. 23.
Long-distance trade with the Americas and the East provided enormous profits, in excess of for a small merchant elite. Smaller merchants could not hope to enter this profiteering without substantial capital and some state help. Eventually, the profits of the trans-Atlantic trade filtered down and strengthened the merchants’ hold over European agriculture and industries. Merchants with sufficient power accumulated profits through the purchase of goods ROR to their production. By controlling the costs of finished products, merchants could extend their profit margin and control the internal markets.
This powerful merchant class provided the capital necessary for the industrialization of European core states. 24. Stages 3 and 4 (18th century and beyond): Industrial rather than agricultural capitalism represented this era. With the shifting emphasis on industrial production, the following reactions characterized this period. 25. A) European states participated in active exploration for the exploitation of new markets. 26. ) Competitive world systems such as the Indian Ocean system were absorbed into the expanding European world system.
With the independence of the Latin American countries, these areas as well as previously isolated zones in the interior of the American continent entered as peripheral zones in the world economy. Asia and Africa entered the system in the nineteenth century as peripheral zones. 27. C) The inclusion of Africa and the Asian continents as peripheral zones increased the available surplus, allowing other areas such as the U. S. And Germany to enhance their core status. 28. ) During this phase, the core regions shifted from a combination of agricultural and industrial interests to purely industrial concerns.
Between 1700, England was Rupee’s leading industrial producer as well as the leader in agricultural production. By 1900, only 10% of England’s population was engaged in agriculture. 29. E) By the asses, with the shift toward manufacturing, core areas encouraged the rise of industries in peripheral and semi-peripheral zones so that they could sell machines to these regions. 30. THEORETICAL REPRISE 31 . The capitalist world economy, as envisioned by Wholesalers, is a dynamic system which changes over time. However, certain basic features remain in place.
Perhaps most important is that when one examines the dynamics of this system, the core regions of northwestern Europe clearly benefited the most from this arrangement. Through extremely high profits gained from international trade and from an exchange of manufactured goods for raw materials from the periphery (and, to a lesser extent, from the semi-peripheries), the core enriched itself at the expense of the peripheral economies. This, of course, did not mean either that everybody in the Repplier became poorer or that all citizens of the core regions became wealthier as a result.
In the periphery, landlords for example often gained great wealth at the expense of their underpaid coerced laborers, since landowners were able to expropriate most of the surplus of their workers for themselves. In turn in the core wage laborers, at least initially saw a relative decline in their standard of living and in the security of their income. Overall, certainly, Wholesalers sees the development of the capitalist world economy as detrimental to a large proportion of the world’s population. 32. Through this theory, Wholesalers attempts to explain why modernization had such wide-ranging and different effects on the world.
He shows how political and economic conditions after the breakdown of feudalism transformed northwestern Europe into the predominant commercial and political power. The geographic expansion of the capitalist world economy altered political systems and labor conditions wherever it was able to penetrate. Although the functioning of the world economy appears to create increasingly larger disparities between the various hypes of economies, the relationship between the core and its periphery and semi- periphery remains relative, not constant.
Technological advantages, for example, could result in an expansion of the world economy overall, and precipitate changes in some peripheral or semi-peripheral areas. However, Wholesalers asserts that an analysis of the history of the capitalist world system shows that it has brought about a skewed development in which economic and social disparities between sections of the world economy have increased rather than provided prosperity for all.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more