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Global and Sustainable Development

The New European Division of Labor too coincided between 1450 and 1640 (actually he clubbed these two periods together), when social classes and ethnic groupings came into existence with bureaucratization, which is the "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," http://www.fordham.edu/halsall/mod/wallerstein.html
At the end of it all the supreme power vested in the absolute and greatly empowered monarchy. These periods also saw homogenization of the local population when minorities got expelled and capitalist groups without local standing were either hated or feared (e.g.: Jews, protestants). During this period, Catholic Church became strong and even threatened the States. Militia was established to protect the emperor's regime and the state from outside invasion. The kings were free from the earlier feudal laws and many enlightened emperors used the opportunity to inspire institutions, arts etc. and the local bourgeoisie got strengthened.

Northwestern European states improved by 1640 while Spain, Italy and Liberian America declined and England became the most important state. Division of labor, fall in wages, Europe becoming the centre of capitalism, increase of politico-economic groups etc. happened during this time and finally, industrialization stepped in. The third and fourth stages occur in 18th century and beyond and this capitalism belongs to the industry and not to agriculture. This period is marked with exploration and exploitation of new markets, competitive world systems, shifting of core regions into industrial concerns and manufacturing. Division of labor between labor class and landowners became part of the development of capitalist world economy.

He says political and economic conditions completely changed the north-western Europe after the end of feudalism. With the imperialistic policies Europe became a major power in the world. He traces the modernization of the world through the historical and economical happenings and he feels that modern society and world system have increased the disparity between haves and have-nots because the relationship between the core, peripheral and semi-peripheral remained relative and not constant. During these developments, other problems like sexism, racism, where biology defined the position and such positions are socially unchangeable, cropped up. World system commoditized everything and the politics for accumulation, struggle for benefits and truth as opiate crept in.
Wallerstein has rendered powerful contribution to sociological practice.
"What distinguishes the historical social system we are calling historical capitalism is that in this historical system capital came to be used (invested) in a very special way" Wallerstein (1983, p.14). The world system he has detailed still remains one of the best theories, an all-enveloping perspective. "A world-system is a social system, one that has boundaries, structures, member groups, rules of legitimation and coherence. Its life is made up of conflicting ...Show more

Summary

Wallerstein said capitalism is first and foremost a social system and he traced the evolution capitalism has gone through over the centuries. According to him, the economy and capitalism underwent many stages like Medieval Prelude, division of labor in New Europe, period of core regional benefits of England, France, Holland, while peripheral and semi-peripheral regions also benefitted, and the external areas simply tried to keep up with the advancement of the economy in the above-mentioned regions…
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Global and Sustainable Development essay example
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