Edit Found some write ups https://www.reddit.com/r/AskHistorians/comments/4wq5s4/monday_methods_wallerstein_world_system_and/
Wallerstein's world system theory is a fantastic historical model to use, and I find it quite convincing when applied to the modern world. It's an offshoot of Braudel, who is one of the greatest historians of all time, no question. Braudel's three part series called Capitalism and Civilisation is a masterwork. The modern theorist Giovanni Arrighi uses Wallerstein in his The Long Twentieth Century which posits American collapse, and thus far has been exactly on track. He was predicating a collapse into a multi-polar world after American hegemony in fucking 1994! A lot of interesting work has been done with Wallerstein historically, as well. Before European Hegemony by Janet Abu-Lughod applies Wallerstein's world systems theory to the late medieval period to examine the world system that existed before capitalism.
OK so as a person who hasn't read Braudel nor Wallerstein, but is very interested in world system theory as an alternative to/critique of Marxism, where do I start?
Honestly Arrighi would be your best bet, since he applies world systems theory to analysing the four successive phases of capitalist hegemony in order to examine American hegemony in comparison. Wallerstein has a 100 page intro to his long ass work outlining his theory, but seeing it applied makes it more understandable. You can also start with the OG and read Braudel's two part series about the Mediterranean "world" during the time of Philip II, where he pioneers the groundwork for world systems theory. It's a wonderful work of history about how geography, trade patterns, methods of agriculture, etc, are oft times more important than individual decisions or "events." Very Marxist in its approach, though Braudel rejected Marxism at least in part.
I can absolutely confirm that Braudel (and the Annales of History in general) are excellent. I haven't read Braudel in full (and he does make mistakes in the regions he looks at according to a friend, but is developing a good theory and draws stuff together very well). What I want to say is: Whenever I read pieces of the three volume series, but especially the third book it is a joy that re-frames how I think and enables me to have more questions to ask.
Lovely, thanks for giving the context to these writers. Would you recommend a specific title of Arrighi?
The Long Twentieth Century is his masterwork. You can download it on libgen here: http://libgen.is/book/index.php?md5=29D7C571FCF28AE2A1E09BF9476F8579 He also has a book called Adam Smith in Beijing, which is about how capitalism in China followed a more "natural" path because the state still controls capitalists and was not captured by it, which is how Adam Smith envisioned capitalism working. Fascinating work, but definitely start with the former.
Do you mean:
The Rise and Future Demise of the World Capitalist System: Concepts for Comparative Analysis
I picked up a newer text and that seems to be easy to read, but am not familiar with the domain. Though plenty I recognize from general usage of terms, though dependency theory and a couple other things seem to be incorporated quite well.
The struggle in Wallerstein's locating when capitalism started (long 16th century) I only know from pubs.
Thanks :)