sociology chp 10
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| Global Inequality | the concentration of resources in core
nations and in the hands of a wealthy minority
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| Global Stratification | the unequal distribution of resources between countries
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| GINI coefficient | measures income inequality between countries using a
100-point scale on which 1 represents complete equality and 100 represents the highest possible inequality
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| Gross National Income | A calculation of national wealth representing all
the income earned by a nation and its people. The number includes the nation's gross domestic product plus the income it receives from overseas sources
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| Human Development Index | expresses the capabilities of people's
potential achievement. The index is calculated using data regarding people's lifespan, education, and income.
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| First World | used to describe industrialized capitalist democracies
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| Third World | refers to poor, unindustrialized countries
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| Second World | describes nations with moderate economies and standards of living
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| Fourth World | describes stigmatized minority groups who have no voice or representation on the world stage
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| Core Nations | dominant capitalist countries
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| Peripheral Nations | nations on the fringes of the global economy, dominated by core nations, with very little industrialization
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| Semi-Peripheral Nations | are in-between nations, not powerful enough to dictate policy but acting as a major source of raw materials and an expanding
middle class marketplace
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| Capital Flight | refers to the movement (flight) of capital from one nation to another, via jobs and resources
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| Deindustrialization | refers to the loss of industrial production, usually to peripheral and semi-peripheral nations where the costs are lower
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| Relative Poverty | the state of poverty where one is unable to live the
lifestyle of the average person in the country
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| Extreme Poverty | the state where one is barely able, or unable, to afford basic necessities
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| Subjective Poverty | a state of poverty composed of many dimensions, subjectively present when one’s actual income does not meet one’s expectations
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| Global Feminization of Poverty | a pattern that occurs when women bear a disproportionate percentage of the burden of poverty
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| Chattel Slavery | a form of slavery in which one person owns another
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| 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
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| 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
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| Dependency Theory | a theory which states that global inequity is due to the exploitation of peripheral and semi-peripheral nations by core nations
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