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After WWII, 1st world was U.S., Canada Japan
2nd was China |
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| most controversial; underdevelopment nations emerged after Marshall Plan |
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| rebuilt Europe so tried to rebuild other nations |
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| Gross National Income-all goods and services produced in a country in a given year and net income earned outside country |
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| material well being that can be measured by quality of foods and services that may be purchased by nations per capital income |
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| GNI per capita 935 dollars or less (49) |
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| GNI per capita less than 11,455 (95) |
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| GNI per capita more than 11 456 |
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| movement of jobs and economic resources from one nation to another |
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| closing of plants because workers are hired for cheaper |
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| gross domestic product-all goods and services within a country's economy within a year |
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| comparing actual income against income earner's expectations |
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| (0-100) measures inequality 0 being all equal and 100 being owned by one person |
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| 3 criteria= life expectancy, education and living standards |
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| links global inequality to different levels of economic development |
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| 4 stages of modernization theory |
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| traditional, take off, technological maturity and high mass consumption |
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| global poverty attributed to high income nations exploiting low income nations |
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countries incorporation into capitalist is in hierarchy of 3 types-
core nations, semiperipheral nations, peripheral nations |
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| factories by low wage workers to keep prices down |
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| New International Division of labor |
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Definition
| commodity production is split into gragments that can be moved to whichever part of the world is best for capital and labor |
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