Chapter 10 Flashcards
The concentration of resources in core nations and in the hands of a wealthy minority.
Global Inequality
The unequal distribution of resources between countries.
Global Stratification
Dominant capitalist countries.
Core Nations
Nations on the fringes of the global economy, dominated by core nations, with very little industrialization.
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.
Semi-peripheral nations
the income of a nation calculated based on goods and services produced, plus income earned by citizens and corporations headquartered in that country.
Gross national income (GNI)
the movement (flight) of capital from one nation to another, via jobs and resources.
Capital Flight
an unregulated economy of labor and goods that operates outside of governance, regulatory systems, or human protections.
Underground Economy
A form of slavery in which one person owns another
Chattel Slavery
the act of people pledging themselves as servants in exchange for money for passage, and are subsequently paid too little to regain their freedom.
Debt Bondage
a theory that low-income countries can improve their global economic standing by industrialization of infrastructure and a shift in cultural attitudes towards work.
Modernization theory
a theory which states that global inequity is due to the exploitation of peripheral and semi-peripheral nations by core nations.
Dependency Theory
