UNIT 10 Flashcards
Accountability
Refers to the obligation of individuals and organizations to take responsibility for their actions, decisions, and their impact on others.
Asian Model
A term used to describe “export-led industrialization”. The Asian model is a model of economic development with a capitalist system in which governments and the biggest businesses co-operate to develop export industries. Government influences investments, provides incentives for exports, and can decide whether firms are allowed to export products.
Authoritarian Government
a non-democratic governing system that features absolute rule over the population. People are prevented from choosing their government and influencing its decisions
Dependency Theory
Dependency theory argues that underdevelopment results from unequal power relations between the centre (dominant capitalist countries) and the periphery (poor, dependent countries)
Developing Countries
Countries that have not reached the same level of development as the richer, advanced countries.
Development
A condition that involves the satisfaction of the basic needs of all of the people as well as the means for them to live fulfilling and productive lives based on the creation of a more diversified, sophisticated, and sustainable economy.
Export Led Industrialization (ELI)
A model of economic development with a capitalist system in which government and the biggest businesses co-operate to develop export industries. Government influences investments, provides incentives for exports, and can decide whether firms are allowed to export products.
Gross Domestic Product (GDP)
The market value of goods and services produced in a country, excluding transactions with other countries
Human Development
This is a concept used by the HDI to assess and compare the overall well-being and quality of life of people in different countries. It has three core aspects. Health, education, and standard of living.
Human Development Index (HDI)
An annuals index for most countries, calculated by the United Nations Development Programme and based on educational attainment, life expectancy, and per capita gross national income
Import Substitution Industrialization
an economic policy aiming to promote domestic industries by reducing reliance on imported goods. Nations adopting ISI seek to stimulate economic growth by producing goods locally, protecting domestic industries through tariffs and trade barriers, and fostering self-sufficiency
Inequality
Refers to unequal distribution of resources, opportunities, wealth, or privileges among individuals or groups within a society
Global Inequality
Global inequality extends the concept of inequality to a global scale, considering disparities among countries and regions.
International Financial Institution (IFI)
An organization that has some ability to affect the global economic system; for example, the International Monetary fund and the World Bank
Modernization Theory
A development model that views the traditional values, practices, and institutions of Third World countries as the basic cause of underdevelopment. To develop, poor countries should change their cultural outlook, social structure, economic organization, and political system based on the model of advanced Western societies
North
Refers to rich developed countries
Official Development Assistance (ODA)
Aid to the poorer countries given by the governments of the richer countries
Personalistic Leader
a political leader whose claim to rule is based on some presumed inherent personal qualities. It also signals a government in which all important decisions are made by the leader according to the leaders wishes.
Poverty
A socio-economic condition characterized by a lack of essential resources, such as income, food, shelter, and access to education and healthcare. It often results in inadequate living standards, hindering individuals ability to meet their basic needs
Absolute Poverty
Highlights a lack of access to basic necessities of life, human dignity, well-being- and capabilities, including food and water.
Feminization of Poverty
A term that describes the interrelated factors that give rise to the fact that women, particularly in the global south, constitute the majority of the worlds poor and bear the social brunt of social deprivation and inequality.
Global Poverty
Refers to the pervasive condition where a significant portion of the worlds population lacks access to basic necessities, such as foodm, clean water, and adequate shelter
Racialization of Poverty
Refers to the disproportionate risk and burden of poverty borne by racial minority communities and that emphasizes the racial underpinnings of poverty on a global scale.
Relative Poverty
This speaks to an unequal distribution of income within a given society. In this variant, a person may be able to purchase basic needs, but this exhausts their resources and leaves room for nothing else.
