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capitalism
the government allows individuals and businesses to make money in the most efficient way
socialism
a social orgaisation in which the main sectors of the economy are owned by the government
capitalist countries
America, Singapore, Australia
socialist countries
North Korea, Norway, Poland
colonialism
developing countries remained in poverty as the ruling, while developed countries exploited their resources
five steps of Rostow’s Modernisation Theory
the traditional society
pre-conditions for take off
take off
drive to maturity
high mass consumption
the traditional society
based on subsistence: farming, fishing, forestry and some mining
pre conditions for take off
building infrastructure needed before development can take place: communication, power supplies and transport network
take off
introduction and rapid growth of manufacturing industries
better infrastructure and financial investment
drive to maturity
new ideas and technology improve and replace older industries
economic growth throughout the country
high mass consumption
people have more wealth so buy services and goods
trade expands
when was UK at the traditional society?
in the Middle Ages
when was UK at pre conditions for take off?
in the 1750s
when was UK at take off?
in the 1820s
when was UK at drive to maturity?
in the 1850s
when was UK at high mass consumption?
by 1940
Frank’s Dependency Theory
made in 1960s
this benefitted the developed countries more than the developing
economic core
the developed world which exploits the economic periphery
economic periphery
countries that have low levels of economic development: usually in Africa and Asia
top-down development
development where decisions are made by governments or large companies
often involve large-scale projects
bottom-up development
development where decisions are made by local people
often involve small-scale projects aimed at local communities or small areas
sustainable development
development that meets the needs of the present without compromising future generations to meet their own needs
difference between large-scale technology and intermediate technoogy
large-scale technology is expensive and not sustainable
intermediate technology doesn’t have a high cost and are sustainable
globalisation
the process in which the world is becoming more connected economically and politically
positives of the Three Gorges Dam
flood risk is reduced
atracts lots of tourists
provides enough energy and electricity required for middle China
negatives of the Three Gorges Dam
to build the dam, many people were displaced and huge areas of land were flooded
critisms include fear of dam collapse and the pollution of the reservoir from the building work
TNCs short for?
Transnational Corportations
TNCs
businesses that have a global reach
examples of TNCs in India
BT invests in India
outsourcing its call centres to India could save money
Indian call centre workers are cheaper than in the UK
positive social impacts of TNCs in India
employment access improved
more training/education
increased literacy rate
increased urbanisation leads to more people moving to cities
negative social impacts of TNCs in India
poor working conditions
overcrowding due to increased urbanisation
positive economic impacts of TNCs in India
increasing amount of trade
boosted economy → more trade and more employment
negative economic impacts of TNCs in India
low minimum wage
incentives →no paying tax and lack of money for local government
environmental impacts of TNCs in India
loss of land to factories
strain on natrual resources
pollution
deforestation → loss of habitat
increased waste
relax environmental laws
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