A brief overview of Immanuel Wallerstein's concept of World-Systems Analysis sometimes referred to as World-Systems Theory. I provide an overview of the idea, the difference between core, periphery, and semi-periphery nations, provide some examples of it applied to the industrial revolution and the second half of the 20th century.
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Sources
Chase-Dunn, Christopher, Yukio Kawano, and Benjamin D. Brewer. “Trade Globalization Since 1975: Waves of Integration in the World-System.” 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. World-Systems Analysis: An Introduction. Durham, NC: Duke University Press, 2004.