Chapter 10 Flashcards
absolute poverty
the state where one is barely able, or unable, to afford basic necessities
capital flight
the movement (flight) of capital from one nation to another, via jobs and resources
chattel slavery
a form of slavery in which one person owns another
core nations
dominant capitalist countries
debt accumulation
the buildup of external debt, wherein countries borrow money from other
nations to fund their expansion or growth goals
debt bondage
when people pledge themselves as servants in exchange for money for passage,
and are subsequently paid too little to regain their freedom
deindustrialization
the loss of industrial production, usually to peripheral and semi-peripheral
nations where the costs are lower
dependency theory
theory which states that global inequity is due to the exploitation of
peripheral and semi-peripheral nations by core nations
first world
a term from the Cold War era that is used to describe industrialized capitalist
democracies
fourth world
a term that describes stigmatized minority groups who have no voice or
representation on the world stage
global feminization
a pattern that occurs when women bear a disproportionate percentage of the
burden of poverty
global inequality
the concentration of resources in core nations and in the hands of a wealthy
minority
global stratification
the unequal distribution of resources between countries
gross national income (GNI):
the income of a nation calculated based on goods and services
produced, plus income earned by citizens and corporations headquartered in that country
modernization theory
a theory that low-income countries can improve their global economic
standing by industrialization of infrastructure and a shift in cultural attitudes towards work
peripheral nations
nations on the fringes of the global economy, dominated by core nations, with
very little industrialization
relative poverty
the state of poverty where one is unable to live the lifestyle of the average
person in the country
second world
a term from the Cold War era that describes nations with moderate economies and
standards of living
semi-peripheral nations:
in-between nations, not powerful enough to dictate policy but acting as a major source of raw materials and an expanding middle class marketplace
subjective poverty
a state of poverty composed of many dimensions, subjectively present when
one’s actual income does not meet one’s expectations
third world
a term from the Cold War era that refers to poor, unindustrialized countries
underground economy
an unregulated economy of labor and goods that operates outside of
governance, regulatory systems, or human protections
Peonage
also called debt slavery or debt servitude, is a system where an employer compels a worker to pay off a debt with work.
servile marriage
marriage whereby a woman may be promised and/or given in marriage without her consent.
ethnocentric bias
The tendency to interpret human behaviour from the viewpoint of our own ethnic, social or other group
