Economic Development and the World System

Economic development refers to the process by which countries improve the well-being of their populations through increased income, better infrastructure, healthcare, and education. The world system is the global network of countries interconnected through trade, politics, and economics. It recognizes that some nations are more powerful economically and politically, often influencing others. Developed countries tend to have strong, diverse economies, while developing nations are still growing and facing challenges. This interconnected system shapes migration, investment, and resource distribution worldwide, highlighting how global relationships impact each country's growth and prosperity.