Vocabulary Review over LICs, HICs, and MICs
Global North
Democratic, technologically innovative, wealthy, aging population, low population
Global South
Non-democratic, low technology, ppor, rapid population growth, overstrained social and ecological systems
Developed Country
High quality of life, stable gov and economy, advanced tech
Developing Country
Lower standard of living, unstable government and economy, low level of technology access
1st World
Western Bloc- US, NATO, Japan, and other industrialized democratic countries
2nd World
Eastern Bloc- USSR, Eastern Europe, China, and other communist countries
3rd World
Originally non aligned countries, evolved into developing
4th World
Indigenous peoples, nations without a sovereign state
LIC- Low income countries
Less than 1046 gni per person
MIC- Middle Income Countries
1046- 12,695 GNI per person
HIC- High Income Countries
Greater than 12,695 GNI per person
Mercantilism
1600s- 1700s Heavy government regulation on economic life to increase state power. State works with them, encourages exports and limit imports
Neocolonialism
The use of economic, poltical, cultural or other pressires to control or infulence other countries expecial previously owned/ former dependencies
Nationalism
Support nation's interests even if it's to the detriment of other nations
Realpolitik
countries should increase power and wealth to complete with other countries
World- Systems Theory
Core (industrialized) countries exploit the periphery (non-industrialized) countries. Economic power over foreign lands.
Marxism
Inevitable consequence of capitalism: need for profitable outlets for surplus production
HDI- Human development index
1=most devloped 191= least developed
GDP per capita- Gross domestic product
Goods and services provided by a country in a year per person
GNI per capita - Gross National Income
dollar value of a country's final income in a year by population
GINI
Measure of income distribution
GDI-Gender development index
1= equality. Ratio is female:male
Further away from 1 is less equality
Infant mortality rate
# of infant (below 1 yr) deaths per 1,000 live births