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35 Cards in this Set
- Front
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commodity chain
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series of links connecting the many places of production and distribution and resulting in a commodity that is then exchanged on the world market
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developing
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with respect to a country, making progress in technology, production, and socioeconomic warfare
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gross national product (GNP)
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the total value of all goods and services produced by a country’s economy in a given year. It includes all goods and services produced by corporations and individuals of a country, whether or not they are located within the country
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gross domestic product (GDP)
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the total value of all goods and services produced within a country during a given year
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gross national income (GNI)
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the monetary worth of what is produced within a country plus income received from investments outside the country, as a more accurate way of measuring a country's wealth in the context of a global economy
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*per capita
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capita means individual. Income, production, or some other measure is often given per individual
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per capita GNI
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GNI divded by the population of a country
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*per capita GNP
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the gross national product (GNP) of a given country divided by its population.
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formal economy
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the legal economy that is taxed and monitored by a government and is included in a government’s Gross National Product (GNP), as opposed to an informal economy
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informal economy
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economic activity that is neither taxed nor monitored by a government and is not included in that government’s Gross National Product (GNP), as opposed to a formal economy
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modernization model
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a model of economic development most closely associated with the work of economist Walter Rostow. The modernization model (sometimes referred to as modernization theory) maintains that all countries go through five interrelated stages of development, which culminate in an economic state of self-sustained economic growth and high levels of mass consumption
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context
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the geographical situation in which something occurs; the combination of what is happening at a variety of scales concurrently
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*colonialism
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rule by an autonomous power over a subordinate and alien people and place. Although often established and maintained through political structures, colonialism also creates unequal cultural and economic relations. Because of the magnitude and impact of the European colonial project of the last few centuries, the term is generally understood to refer to that particular colonial endeavor
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neocolonialism
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the entrenchment of the colonial order, such as trade and investment, under a new guise. See also postcolonialism
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*postcolonialism
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a recent intellectual movement concerned with examining the enduring impacts of colonialism, not just in economic and political relations (the focus of neocolonialism), but especially in cultural terms. Postcolonial studies examine the ways in which basic concepts of culture and forms of cultural interaction continue to be shaped by the hegemonic ideas and practices of colonialism
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structuralist theory
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a general term for a model of economic development that treats economic disparities among countries or regions as the result of historically derived power relations within the global economic system
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dependency theory
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a structuralist theory that offers a critique of the modernization model of development. Based on the idea that certain types of political and economic relations (especially colonialism) between countries and regions of the world have created arrangements that both control and limit the extent to which regions can develop
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dollarization
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when a poorer country ties the value of its currency to that of a wealthier country, or when it abandons its currency and adopts the wealthier country’s currency as its own
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world-systems theory
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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
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three-tier structure
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with reference to Immanuel Wallerstein’s world-systems theory, the division of the world into the core, the periphery, and the semi-periphery as a means to help explain the interconnections between places in the global economy
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*core
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process that incorporate higher levels of education, higher salaries, and more technology; generate more wealth than periphery processes in the world economy
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*periphery
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processes that incorporates lower levels of education, lower salaries, and less technology; and generate less wealth than core processes in the world economy
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*semi-periphery
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places where core and periphery processes are both occurring; places that are exploited by the core but in turn exploit the periphery
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trafficking
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when a family sends a child or an adult to a labor recruiter in hopes that the labor recruiter will send money, and the family member will earn money to send home
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structural adjustment loans
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loans granted by international financial institutions such as the World Bank and the International Monetary Fund to countries in the periphery and the semi-periphery in exchange for certain economic and governmental reforms in that country (e.g. privatization of certain government entities and opening the country to foreign trade and investment)
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vectored disease
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a disease carried from one host to another by an intermediate host
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malaria
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vectored disease spread by mosquitoes that carry the malaria parasite in their saliva and which kills approximately 150,000 children in the global periphery each month
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export processing zones (EPZs)
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zones established by many countries in the periphery and semi-periphery where they offer favorable tax, regulatory, and trade arrangements to attract foreign trade and investment
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maquiladora
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the term given to zones in northern Mexico with factories supplying manufactured goods to the US market. The low-wage workers in the primarily foreign-owned factories assemble imported components and/or raw materials and then export finished goods
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special economic zone (SEZ)
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specific area within a country in which tax incentives and less stringent environmental regulations are implemented to attract foreign business and investment
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North American Free Trade Agreement (NAFTA)
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agreement entered into by Canada, Mexico, and the United States in December 1992 and which took effect on January 1, 1994, to eliminate the barriers to trade in and facilitate the cross-border movement of goods and services between the countries
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desertification
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the encroachment of desert conditions on moister zones along the desert margins, where plant cover and soils are threatened by desiccation—through overuse, in part by humans and their domestic animals, and, possibly, in part because of inexorable shifts in the Earth’s environmental zones
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island of development
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place built up by a government or corporation to attract foreign investment and which has relatively high concentrations of paying jobs and infrastructure
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nongovernmental organizations (NGOs)
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international organizations that operate outside of the formal political arena but that are nevertheless influential in spearheading international initiatives on social, economic, and environmental issues
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microcredit program
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program that provides small loans to poor people, especially women, to encourage development of small businesses
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