Chapter 1 Flashcards
Purchasing power parity
- comparative indicator
* price of a basket of identical traded goods and services in two countries
Social capital
- network of relationships that provide support
* broad and diffuse social trust
Absolute poverty
- minimum level of income required for physical survival
* international PPP $1.25 USD per day
Moderate poverty
income at a level that indicates deprivation and insecurity
- physical survival is not threatened
- international PPP $2 USD per day
Relative poverty
- person may not have the income necessary to fully participate in is or her society
- principal kind in developed countries
Capabilities approach
development should not only be seen as rising income, but an increase in individuals’ substantive freedoms and abilities to make choices they value
Global ethics
morality at the world level
Cosmopolitanism
humanity shares a set of values and responsibilities to people are the world regardless of where we were born or currently live ( national boundaries are to be irrelevant to questions of justice)
Consequentialist ethic
judging whether an action is morally right or wrong by its consequences
Contractarian ethic
moral norms are justified according to the idea of a contract or mutual agreement
Rights-based ethic
*fundamental entitlement to act or be treated in specific ways based on moral claims
Communitarianism
social order that fosters communal bonds is morally preferable, political and social community is a factor of key moral relevance
Libertarian
individual freedom is the highest moral principal, key rights: the right to acquire and retain property
Neoliberalism
- markets are usually the best decision makers in tersm of efficient resource allocation
- trade and investment are optimized by fewer restrictions
Positionality
- awareness of social situation and power relationships where one is embedded
- helps to make better decisions and reduce negative impact
