Wallerstein and Rostow
...hich have weaker government, make less money, and export raw materials to the core. Then there is the semi-periphery, which is core areas in the decline or periphery in the incline, they acted as buffer zones, and exploit the periphery. Finally there is the external area’s that maintain their own economic systems and, for the most part, managed to remain outside the modern world economy. Where a country falls into one of those four categories reflects whether it is a MDC or LDC, thereby where fall, north or south of the line. The core is the MDC because they make more money, and have more ability to maintain solid trade, LDC’s are periphery because they have to trade with the core areas. Rostow’s Development Model can also help understand the North-South split and the core vs. periphery divide. In the Wallerstein’s World Systems he also set stages of development, in Rostow’s Development Model Rostow’s lays down how to reach self-sufficiency, or become a core region. There are five stages: traditional society, preconditions for takeoff, takeoff, drive to maturity, and the age of mass consumption. In traditional society the economy is dominated by subsistence activity where output is consumed by producers rather than traded. Agriculture is the most important industry and production is labor intensive using only limited quantities of capital. In preconditions for takeoff increased specialization generates surpluses for trading. There is an emergence of a transport infrastructure to support trade. External trade also occurs concentrating on primary products. In takeoff industrialization increases, with workers switching from the agricultural sector to the manufacturing sector. Growth is concentrated in a few regions of the country and in one or two manufacturing industries. In drive to maturity The economy is diversifying into new areas. Technological innovation is providing a diverse range of investment opportunities. The economy is producing a wide range of goods and services and there is less reliance on imports. Finally the age of maturity the econom...