The historic long term economic interconnections of the world are now universally accepted. The idea of the economic 'world system' advanced by Immanuel Wallerstein has set the period of linkage in the early modern period but Andre Gunder Frank and Barry K. Gills think that this date is much too late. They argue an interconnection going back as much as 5000 years. In The World System, leading academics examine this issue, in a debate contributed to by William H. McNeill and Immanuel Wallerstein among others.

Why, while Europe, North America, and Australia have developed, have Africa, much of Asia, and Latin America remained underdeveloped? Andre Gunder Frank sets out to answer this basic question by showing how world capital accumulation has led to the differentiation of these regions within the single world-embracing economic system. Unequal exchange between regions, combined with the differential transformation of productive, social, and political relations within regions, has led to the capitalist development of some areas and to the underdevelopment of others.

In his second book, Andre Gunder Frank expands on the theme presented in his influential study Capitalism and Underdevelopment in Latin America. It is the colonial structure of world capitalism, in his view, which produced and maintains the underdevelopment characteristic of Latin America and the rest of the Third World. This colonial structure penetrates everywhere in Latin America, forming and transforming all its features in obedience to its own imperatives and thereby imposing upon the region those characteristic features of poverty and backwardness which are not primarily the remnants of...