Wallerstein Immanuel. The Modern World-System I: Capitalist Agriculture and the Origins of the European World-Economy in the Sixteenth Century

ACADEMIC PRESS, 1974. - 440 p.This book is the manifesto of world system theory and that it was awarded by American association of sociology. Previously, the capitalism begin with the 1st industrial revolution but Wallerstein questioned this common sense. He asserted it should be dated back to 16th century when Italian city-state prospered with Mediterrean trade. The book begins with how the feudalism fell and capitalism emerged. Volume 1 covers the shift of hegemoney in European world system from Italian city-states, Spain to Holland. The gist of his theorizing is the worldwide division of labor.