A brief overview of Immanuel Wallerstein's concept of WorldSystems Analysis sometimes referred to as WorldSystems Theory. I provide an overview of the idea, the difference between core, periphery, and semiperiphery nations, provide some examples of it applied to the industrial revolution and the second half of the 20th century.
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Sources
ChaseDunn, Christopher, Yukio Kawano, and Benjamin D. Brewer. “Trade Globalization Since 1975: Waves of Integration in the WorldSystem.” American Sociological Review 65 (February 2000): 77–95.

Wallerstein, Immanuel. “The Rise and Future Demise of the World Capitalist System: Concepts for Comparative Analysis.” Comparative Studies in Society and History 16, no. 4 (September 1974): 387–415.

Wallerstein, Immanuel. WorldSystems Analysis: An Introduction. Durham, NC: Duke University Press, 2004.