Modernization Theory, Environmental Kuznets Curve, and Its Limitations

Vocabulary flashcards based on the lecture notes about Modernization Theory, the Environmental Kuznets Curve, and its limitations, including concepts like exporting pollution and race to the bottom.

What is the Environmental Kuznets Curve (EKC)?

The EKC argues that the level of environmental degradation (such as water pollution) can be explained by the predominant form of economic activity at a given period of time, suggesting that pollution might initially increase with economic development but then decrease.

What is meant by 'Exporting of Pollution'?

Exporting of Pollution refers to the migration or relocation of polluting industries from richer nations to poorer nations, often influenced by stricter environmental regulations in developed countries.

Explain the 'Race to the Bottom' phenomenon.

The Race to the Bottom is a phenomenon where competition among poor nations to attract multinational corporations leads to progressively lower environmental regulations, as well as reduced wages and taxes.

What are the limitations of the Environmental Kuznets Curve?

The theory does not apply to all types of pollution (e.g., CO2 emissions and nuclear waste tend to increase with development) and does not account for the exporting of pollution to other nations.