Chapter 10 - Global Inequality 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 from 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
The act of people pledging 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
A theory which states 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.
GINI Coefficient
A measure of income inequality between countries using a 100-point scale, in which 1 represents complete equality and 100 represents the highest possible inequality.
Global Feminization of Poverty
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.
Relative Poverty
The state of poverty where one is unable to live in 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
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, industrialized countries
Underground Economy
An unregulated economy of labor and goods that operates outside of governance, regulatory systems, or human protections.
