chapter 3 Flashcards
Development
a process that brings about changes in economic prosperity and quality of life
Gross domestic product (GDP)
a monetary measure of the market value pf all goods and services produced within a country over a given time period (usually one year)
Gross national product (GNP)
a monetary measure of the market value of all goods and services produced within a country, plus those produced by individuals or corporations (of that country) operating elsewhere, over a given time period (usually one year)
Ethnocentrism
a form of prejudice or stereotyping that presumes that one’s own culture is normal and natural and that all others are inferior
Eurocentrism
a view that places the historical experience of Europe (and its descendants) as the benchmark for all comparisons; a form of ethnocentrism
Gross national income (GNI)
A monetary measure of the market value of goods and services produced within a country, plus income from investments abroad, over a given period (usually one year).
Purchasing power parity (PPP)
A tool that measures the relative cost of a common market basket of goods and services for comparing cost of living between countries
Human Development Index (HDI)
A numerical measure of how well basic human needs are being met; a composite index incorporating health (life expectancy), education (years of schooling), and income (gross national income per capita)
two explaination for global inequalities
- the shape of continents; less isolated country, eventual spread of technologies to Europe
- unequal relations establish during european colonial expansion; creates two division, dominant (core), and dependent countries (periphery)
neoliberal theory
free and unregulated market, and removal of barriers to trade
Why does poverty/underdevelopment exist? Poorly implemented macro-economic policies
Answer to the problem of poverty/underdevelopment? Liberalize economies, 1. Neo-liberal market reforms (SAPs?) 2. Deregulation within the economy (free market)
1. reduce amount for gov control over prices
2. privatize state owned compagnies
3. reduce gov spending on public services, like health care
4. liberalize labour lost, dont allow working union, no benefit, no right to strike, cheap labour
5. liberalize foreign investment regulation, reduce, dumping sell below the cost, undercut local production, by getting the price of under product higher
Why does poverty/underdevelopment exist?
Poorly implemented macro-economic policies
Dependency theory
creates two divisions, dominant (core), dependent countries (periphery), product of colonialism
Why does underdevelopment exist? Core exploits and « underdevelops » the periphery for access to cheap resources and labour
Role of MNCs is critical, exploit the poor for profit
Why does underdevelopment exist?
Core exploits and « underdevelops » the periphery for access to cheap resources and labor
world systems theory
immanuel wallerstein, A set of ideas centered around the notion that the world is an interdependent system of countries linked together by an economic and political competition that shapes relations between core (more developed), semiperipheral (less developed), and peripheral (least developed) countries
how is food shortages are both caused by and contribute to poverty
While famine, the body, including the brain, cannot develop fully