IHDI (Inequality-Adjusted Human Development Index)
An adjustment to the HDI to account for the dispersement of equality
PPP (Purchasing Power Parity)
An adjustment to the GNI to account for differences in prices
Development
The process of improving lives of people by diffusing information and technology
MDCs
More Developed Countries
LDCs
Less Developed Countries
HDI (Human Development Index)
The measure of life expectency, income, and education
GDI (Gender Development Index)
Measures gender inequality in income, life expectancy, and education
GNI (Gross National Income)
The value of ouput of goods and services including the money that leaves and enters the country
GII (Gender Inequality Index)
Measures reproductive health, empowerment and labor market between genders
Fair Trade
Provides higher equity to workers, standards protect the workers
Industrial Revolution
1700s - Development from hand-made products to machines and factories (Started in Europe)
Patriarchy
Male dominance in a society
Sweatshop
A place that violates two or more labor laws (factories)
Foxconn
Workers had to live on premises, only two 30 minute breaks in a 12 hour work shift, $2 an hour pay. Foxconn produces electronic components for Apple and Intel mostly.
Microfinance
Loans from governments to small buisness owners who are in areas that don’t have infrastructure to give loans to them.
Neoliberalism
Pushing for free trade and free markets, more globalization, ignores racism and inequality already in place (doesn’t help to fix it)
Primary Sector of the Economy
People getting materials from the Earth
Secondary Sector of the Economy
Manufacturing the raw resources from the primary sector
Tertiary Sector of the Economy
Serivce sector, selling products from the secondary sector
Quarterary Sector of the Economy
Technology, manufacturing, innovation
Quinary
Executives, higher ups, government, education
Wallerstein’s Theory
Core countries exploit semi-periphial and peripherary countries, semi-periphial countries exploit peripherary countries.
Rostow’s Economic Model
Stage 1: Agriculture
Stage 2: Investment in new technology
Stage 3: Rapid growth in a few industries
Stage 4: Modern tech is spread, industries experience rapid growth
Stage 5: Economy shifts from production to heavy industry (Steel, energy, motor vehicles)
Weber’s Theory
Modern societys want to be very effiecient and modernize to get things done (ethics are brushed to the side)