9.1 Flashcards
(13 cards)
Globalization
The development of social and economic relationships stretching worldwide
Globalization has produced opportunities for unthinking;e wealth but also widespread poverty and suffereing
A key part of the study of globalization is the emergence of a world system 0 for some purposes, we need to regard the world as forming a single social order.
In current times, we are all influenced by organizations and social networks located thousands of miles away (redefining proximity)
Global Inequality
The systematic differences in wealth and power among countries
GNI (Gross Natioanl Income)
A commonly used measure based on total income earned as a result of a country’s yearly output of goods and services, including income earned abroad
The world bank uses GNI to classify countries as wither high, upper-middle, lower-middle or low income
High Income Countries
They are generally those that industrialized first
High income countries are home to only 16% of the world’s population, but command 63% of the world’s total gross national income
Example countries are found in Europe, North America, and the East Asian/Pacific region
Middle Income Countries
They began to industrialize later in the twentieth century than high income countries
Middle-income countries house 75% of the world’s population but accounted for 36% of the output produced in 2018
They are primarily found in East and Southeast Asia and also include the oil-rich nation-states of the Middle East and North Africa
Low Income Countries
They have mostly agricultural economies and are just beginning to industrialize.
Low income countries house 9% of the world’s population by just 0.1% of the world’s GNI
large families are more likely to be a cultural norm in low-income countries because children can be an economic asset
Is Global Economic Well-Being Imporving?
The number of low-income countries is decreasing as countries move into middle and higher-income categories over time.
But the number of people living in igh-income countries has remained largely the same
Economic success in China and India accounts for much of the upward movement
Problems with Ranking Countries by Average Annual Income
It ignores income inequalities within each country
EX. The US is in the upper ranks of high-income countries, yet it has more that half a million people experience it homelessness on any given day
GNI does not include the value of informal work, which may be significant, especially in poorer countries
Absolute Poverty
When persons cannot acquire basic life needs, including food, clothing, and shelter
Capabilities Approach
An approach to development that uses social indicators to emphasize the degree to which people are capable of achieving a life they value, given the opportunities they face
Capabilities Approach
An approach to development that uses social indicators to emphasize the degree to which people are capable of achieving a life they value, given the opportunities they face
Amartya Sen
She argued that instead of focusing on purely economic indications, what is important is the quality of life people car capable of achieving — the freedom to make fundamental life choices
Relative Poverty
When persons are poor relative to others in their society
