Capitalism in the Periphery

Since the disintegration of tlie Soviet Bloc in 1991, there has emerged a unipolar capitalist world economy with USA at the apex. However, core-periptiery thesis of Immanuel Wallerstien, the metropole - satellite thesis of Andre Gunder Frank, the immiserising growth thesis of Jagdish Bhagwati, the under-development paradigm of Samir Amin, as well as the imperialism position of Robert Rhodes are still valid today. What have changed are the rise of Islamic Fundamentalism as a global force and the emergence of the European Union as a powerful economic entity.