The concept of the hyper-rich is based on the fact that: a. ...

[burton19126]

The concept of the hyper-rich is based on the fact that:
 
  a. their wealth has accumulated over several hundreds of years
  b. they own a vast number of manufacturing businesses
  c. their average annual income is in excess of 3 million a year
  d. power is concentrated in the hands of those who are excessively wealthy

Question 2

Explain briefly Immanuel Wallerstein's world system theory.
 
  What will be an ideal response?

[wuly]

Answer to Question 1

C

Answer to Question 2

Wallerstein divides the world into core states, semiperipheral areas, and peripheral areas. The core states are the most technologically advanced and dominate the world economy. The semiperipheral areas are developed to some extent but still dependent on capital and technology provided by the core states. The peripheral areas supply basic resources and labor to the core and semiperipheral area. This system is based on economic domination and does not require political repression as well.