Chapter 10: Global Inequality Flashcards Preview

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Flashcards in Chapter 10: Global Inequality Deck (22)
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1

absolute poverty

the state where one is barely able, or unable, to afford basic necessities

2

capital flight

the movement (flight) of capital from one nation to another, via jobs and resources

3

chattel slavery

a form of slavery in which one person owns another

4

core nations

dominant capitalist countries

5

debt accumulation

the buildup of external debt, wherein countries borrow money from other nations to fund their expansion or growth goals

6

debt bondage

when people pledge themselves as servants in exchange for money for passage, and are subsequently paid too little to regain their freedom

7

deindustrialization

the loss of industrial production, usually to peripheral and semi-peripheral nations where the costs are lower

8

dependency theory

theory which states that global inequity is due to the exploitation of peripheral and semi-peripheral nations by core nations

9

first world

a term from the Cold War era that is used to describe industrialized capitalist democracies

10

fourth world

a term that describes stigmatized minority groups who have no voice or representation on the world stage

11

global feminization

a pattern that occurs when women bear a disproportionate percentage of the burden of poverty

12

global inequality

the concentration of resources in core nations and in the hands of a wealthy minority

13

global stratification

the unequal distribution of resources between countries

14

gross national income (GNI)

the income of a nation calculated based on goods and services produced, plus income earned by citizens and corporations headquartered in that country

15

modernization theory

a theory that low-income countries can improve their global economic standing by industrialization of infrastructure and a shift in cultural attitudes towards work

16

peripheral nations

nations on the fringes of the global economy, dominated by core nations, with very little industrialization

17

relative poverty

the state of poverty where one is unable to live the lifestyle of the average person in the country

18

second world

a term from the Cold War era that describes nations with moderate economies and standards of living

19

semi-peripheral nations

in-between nations, not powerful enough to dictate policy but acting as a major source of raw materials and an expanding middle class marketplace

20

subjective poverty

a state of poverty composed of many dimensions, subjectively present when one’s actual income does not meet one’s expectations

21

third world

a term from the Cold War era that refers to poor, unindustrialized countries

22

underground economy

an unregulated economy of labor and goods that operates outside of governance, regulatory systems, or human protections