10.5: Key Terms
- Page ID
- 172327
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\(\newcommand{\avec}{\mathbf a}\) \(\newcommand{\bvec}{\mathbf b}\) \(\newcommand{\cvec}{\mathbf c}\) \(\newcommand{\dvec}{\mathbf d}\) \(\newcommand{\dtil}{\widetilde{\mathbf d}}\) \(\newcommand{\evec}{\mathbf e}\) \(\newcommand{\fvec}{\mathbf f}\) \(\newcommand{\nvec}{\mathbf n}\) \(\newcommand{\pvec}{\mathbf p}\) \(\newcommand{\qvec}{\mathbf q}\) \(\newcommand{\svec}{\mathbf s}\) \(\newcommand{\tvec}{\mathbf t}\) \(\newcommand{\uvec}{\mathbf u}\) \(\newcommand{\vvec}{\mathbf v}\) \(\newcommand{\wvec}{\mathbf w}\) \(\newcommand{\xvec}{\mathbf x}\) \(\newcommand{\yvec}{\mathbf y}\) \(\newcommand{\zvec}{\mathbf z}\) \(\newcommand{\rvec}{\mathbf r}\) \(\newcommand{\mvec}{\mathbf m}\) \(\newcommand{\zerovec}{\mathbf 0}\) \(\newcommand{\onevec}{\mathbf 1}\) \(\newcommand{\real}{\mathbb R}\) \(\newcommand{\twovec}[2]{\left[\begin{array}{r}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\ctwovec}[2]{\left[\begin{array}{c}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\threevec}[3]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\cthreevec}[3]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\fourvec}[4]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\cfourvec}[4]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\fivevec}[5]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\cfivevec}[5]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\mattwo}[4]{\left[\begin{array}{rr}#1 \amp #2 \\ #3 \amp #4 \\ \end{array}\right]}\) \(\newcommand{\laspan}[1]{\text{Span}\{#1\}}\) \(\newcommand{\bcal}{\cal B}\) \(\newcommand{\ccal}{\cal C}\) \(\newcommand{\scal}{\cal S}\) \(\newcommand{\wcal}{\cal W}\) \(\newcommand{\ecal}{\cal E}\) \(\newcommand{\coords}[2]{\left\{#1\right\}_{#2}}\) \(\newcommand{\gray}[1]{\color{gray}{#1}}\) \(\newcommand{\lgray}[1]{\color{lightgray}{#1}}\) \(\newcommand{\rank}{\operatorname{rank}}\) \(\newcommand{\row}{\text{Row}}\) \(\newcommand{\col}{\text{Col}}\) \(\renewcommand{\row}{\text{Row}}\) \(\newcommand{\nul}{\text{Nul}}\) \(\newcommand{\var}{\text{Var}}\) \(\newcommand{\corr}{\text{corr}}\) \(\newcommand{\len}[1]{\left|#1\right|}\) \(\newcommand{\bbar}{\overline{\bvec}}\) \(\newcommand{\bhat}{\widehat{\bvec}}\) \(\newcommand{\bperp}{\bvec^\perp}\) \(\newcommand{\xhat}{\widehat{\xvec}}\) \(\newcommand{\vhat}{\widehat{\vvec}}\) \(\newcommand{\uhat}{\widehat{\uvec}}\) \(\newcommand{\what}{\widehat{\wvec}}\) \(\newcommand{\Sighat}{\widehat{\Sigma}}\) \(\newcommand{\lt}{<}\) \(\newcommand{\gt}{>}\) \(\newcommand{\amp}{&}\) \(\definecolor{fillinmathshade}{gray}{0.9}\)- capital flight
- the movement (flight) of capital from one nation to another, via jobs and resources
- chattel slavery
- a form of slavery in which one person owns another
- core nations
- dominant capitalist countries
- debt accumulation
- the buildup of external debt, wherein countries borrow money from other nations to fund their expansion or growth goals
- debt bondage
- the act of people pledging themselves as servants in exchange for money for passage, and are subsequently paid too little to regain their freedom
- deindustrialization
- the loss of industrial production, usually to peripheral and semi-peripheral nations where the costs are lower
- dependency theory
- a theory which states that global inequity is due to the exploitation of peripheral and semi-peripheral nations by core nations
- extreme poverty
- the state where one is barely able, or unable, to afford basic necessities
- first world
- a term from the Cold War era that is used to describe industrialized capitalist democracies
- fourth world
- a term that describes stigmatized minority groups who have no voice or representation on the world stage
- GINI coefficient
- a measure of income inequality between countries using a 100-point scale, in which 1 represents complete equality and 100 represents the highest possible inequality
- global feminization of poverty
- a pattern that occurs when women bear a disproportionate percentage of the burden of poverty
- global inequality
- the concentration of resources in core nations and in the hands of a wealthy minority
- global stratification
- the unequal distribution of resources between countries
- 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
- 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
- peripheral nations
- nations on the fringes of the global economy, dominated by core nations, with very little industrialization
- relative poverty
- the state of poverty where one is unable to live the lifestyle of the average person in the country
- second world
- a term from the Cold War era that describes nations with moderate economies and standards of living
- 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
- subjective poverty
- a state of poverty composed of many dimensions, subjectively present when one’s actual income does not meet one’s expectations
- third world
- a term from the Cold War era that refers to poor, unindustrialized countries
- underground economy
- an unregulated economy of labor and goods that operates outside of governance, regulatory systems, or human protections