Which concept views the global economic system as divided between industrialized nations and developing countries?

The correct answer is world systems analysis. This concept, developed by sociologist Immanuel Wallerstein, posits that the global economic system is structured in a way that creates a hierarchy among nations. It categorizes the world into core, semi-peripheral, and peripheral nations. Industrialized nations are considered core countries, which dominate global economic resources, technology, and power. In contrast, developing countries are seen as peripheral nations that primarily provide raw materials and cheap labor, often becoming reliant on the core nations. World systems analysis emphasizes the interconnectedness of economic activities across the globe and how these relationships perpetuate inequality.

Dependency theory could also be relevant as it focuses on the dependence of developing countries on developed ones, but it does not explicitly categorize the global economic system into core and peripheral nations in the same structural way as world systems analysis does. Globalization theory primarily explores the integration and interdependence among nations rather than the hierarchical division between them. Modernization theory suggests that all societies go through similar stages of development but does not emphasize the structural inequalities that exist between industrialized and developing countries. Therefore, world systems analysis is the most accurate framework for understanding the divide between industrialized nations and developing countries in the global economic system.