Chapter 9 - Global Inequality

Globalization

Process of increases interrelation among regions → how countries depend on each other, resulting in homogeneity, force of social change (tech revolution rivals industrial), reduce global poverty and increase health/quality of life

Neoliberalism

idea that state should only intervene minimally, market force will maintain stable economy, individual and corporation free to operate, competition, government has nor role in production → consumer purchase tell business what to make, interdepended between countries

Global North

wealthier countries, less inequality, politically stable, High GDP and HDI

Global South

poorer countries, greater inequality, politically unstable. low GDP and HDI

GDP and HDI

GDP →measure economy by average income, HDI → measure overall wellbeing/ economic and social

Functionalism and Global inequality

all societies modernize in similar ways, converge on single uniform set of beliefs/activities, modernization theory

Modernization theory

society internal features (economic/cultural/social/political) can help (modern) or hinder (traditional) development, less developed countries should emulate modernized countries, technology makes it easier than ever

Critiques of Modernization theory

Global north modernized from position of power (colonialism), Ethnocentric, downplay role of colonialism

Modernity

new is valued, increase influence of Rationalism/ Individualism/ Secularism/ Democracy/ Free market (neoliberal) capitalism, drive economic progress,

Colonialism

political-economic phenomenon, European nation explored/conquered/exploited (resource extraction for colonizer) diverse region of the world,

Dependency theory

global south poverty due to colonialism → make depended on, force participation in neoliberal market but lack capital, remain extraction resource bc lack capital

World System theory

Wallerstein critique of modernization, structural dependence that benefits wealth nation at expense of poor, Core (diverse industrialized economies) and Periphery (exportation/cheap labour economy) States

Newly Industrialized Countries

economies growing quickly, lie between developed and developing regions, challenge world system theory belief that stuck in hierarchy, investment by Global North helps modernization

Imperialism

one society infiltrates/controls another, militarily/politically/culturally, modern takes cultural form

Materialization

ceremonies/symbolic objects/writing systems that support spread of an ideology and power relation, ex: Suits and English materialization of neoliberalism,

Modern colonialism

loans offered to poorer countries if they adopt neoliberal policies (foreign investments), reduce government service and increase privatization, causes lower GDP growth rates and displacement of local industry