Key Terms

bourgeoisie	One of Marx's opposed classes; owners of the means of production (factories, mines, large farms, and other sources of subsistence).



capital	Wealth or resources invested in business, with the intent of producing a profit.



capitalist world economy	The single world system, which emerged in the 16th century, committed to production for sale, with the object of maximizing profits rather than supplying domestic needs.



caste system	Closed, hereditary system of stratification, often dictated by religion; hierarchical social status is ascribed at birth, so that people are locked into their parents' social position.



core	Dominant structural position in the world system; consists of the strongest and most powerful states with advanced systems of production



imperialism	A policy of extending the rule of a nation or empire over foreign nations or of taking and holding foreign colonies.



income	Earnings from wages and salaries.



indigenous peoples	The original inhabitants of particular territories; often descendants of tribespeople who live on as culturally distinct colonized peoples, many of whom aspire to autonomy.



Industrial Revolution	The historical transformation (in Europe, after 1750) of-"traditional" into "modern" societies through industrialization of the economy.



open class system	Stratification system that facilitates social mobility, with individual achievement and personal merit determining social rank.



periphery	Weakest structural position in the world system.



semiperiphery	Structural position in the world system intermediate between core and periphery.



slavery	The most extreme, coercive, abusive, and inhumane form of legalized inequality; people are treated as property.



vertical mobility	Upward or downward change in a person's social status



working class	Or proletariat; those who must sell their labor to survive; the antithesis of the bourgeoisie in Marx's class analysis.

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