Unit VI Flashcards
Development
The extent to which the human and natural resources of an area or country have been brought into full productive use.
Foreign Direct Investment
Investments made by a foreign company in the economy of another country
Gender Inequality Index
A measure of the extent of each’s country gender inequality.
Gini Coefficient- income disparity
The Gini coefficient’s main advantage is that it is a measure of inequality by means of a ratio analysis, rather than a variable unrepresentative of most of the population, such as per capita income or gross domestic product.|
Gross Domestic Product
Encompasses only goods and services produced within a country during a given year.
Gross National Product
A measure of the total value of the officially recorded goods and services produced by the citizens and corporations of a country in a given year.
Gross National Income
The monetary worth of what is produced within a country plus income received from investments outside the country.
Hans Rosling
mastermind behind gapminder, an optimist, who came up with graphs that help us understand how total fertility has gone down in places all over the world, predicts by 2050 we will have about nine billion people
Human Development Index
Indicator of level of development for each country, constructed by the United Nations, combining income, literacy, education, and life expectancy.
Less Developed Country
also known as a developing country, a country that is at a relatively early stage in the process of economic development
Measures of Development
the process of achieving an optimum level of health and well-being. It includes physical, biological, mental, emotional, social, educational, economic, and cultural components
More Developed Country
also known as a relatively developed country of a developed country, a country that has progressed relatively far along a continum of development
Neocolonialism
Refers to the economic control that MDCs are sometimes believed to have over LDCs. Through organizations such as the IMF, the MDCs are able to dictate precisely what LDCs economic policies are, or are able to use their economic subsidies to put LDCs industries out of business.
Newly Industrialized Country
Historically less-developed countries that has experienced significant economic growth- South Korea, Mexico, Brazil.
NGO
Organization not run by a government but by a charity or private organization that supplies resources and money to local businesses and causes advancing economic and human development.
Purchasing Power Parity
Monetary measurment which take account of what money actually buys in each country
Rostow, W.W.
Stage 1=Traditional Society, Stage 2=Transitional Stage, Stage 3=Take off, Stage 4-Drive to Maturity, Stage 5=High Mass Consumption
Structuralist Model
A general term for models of economic development that treat economic disparities among countries or regions as the result of historically derived power relations within the global economic system.
Third World
Are all the other countries, today often used to roughly describe the developing countries of Africa, Asia and Latin America.The term Third World includes as well capitalist (e.g., Venezuela) and communist (e.g., North Korea) countries, as very rich (e.g., Saudi Arabia) and very poor (e.g., Mali) countries.
World System Theory
theory originated by Immanuel Wallerstein and illuminated by his three- tier structure, proposing that social change in the developing world is inextricably linked to the economic activities of the developed world
