The document discusses the emergence of the modern world system from an economic and historical perspective. It describes how the system evolved from the Industrial Revolution, with core nations exploiting resources from the peripheries for profit. This created a stratified global structure of unequal economic and political relationships between nations. Decolonization in the postwar era disrupted this system but neoliberal policies have since aimed to reduce government intervention and promote free market forces on a global scale.

1. The Modern World System Ch 14

7. Core/Periphery/Margins: Core/Semi-Periphery/Periphery; Courtesy www.archatlas.dept.shef.ac.uk/Trade/CPM3a.jpg