Poverty, Development, and Global Inequality

Flashcards covering key concepts, definitions, and theories related to poverty, development, and global inequality as discussed in the lecture.

social stratification

A system by which a society ranks categories of people in a hierarchy.

poverty

The lack of access to basic resources deemed normal in a society.

absolute poverty

The lack of resources that leads to hunger and physical deprivation.

relative poverty

A deficiency in material and economic resources compared with some other population.

multidimensional aspects of poverty

Food insecurity, poor housing, unemployment, psychological distress, powerlessness, lack of health care, lack of education, and transportation issues.

percentage of Canadians in poverty (2020)

6.4% of Canadians lived in poverty.

people living on less than $2 a day

Approximately 2.5 billion people live on less than $2 a day.

global stratification

A global system by which countries are hierarchically ranked.

Gross Domestic Product (GDP)

The total value of all goods and services produced by a country's economy in a particular year.

World Bank Global Stratification System categories

High Income countries, Upper-Middle Income Countries, Lower-Middle Income Countries, Low Income countries.

feminization of poverty

The disproportionate distribution of poverty among women.

major causes of maternal death

Hypertension, hemorrhage, and abortion complications are some major causes.

modernization theory

The process by which nations transition from traditional social organizations to modern post-industrial societies.

dependency theory

An approach contending that industrialized nations exploit developing countries for their own gain.

Wallerstein's World System Analysis

The global economic system is divided between industrialized nations that control wealth and developing countries that are exploited.

Bretton Woods Agreement

An agreement formed after WWII to create efficient foreign exchange and promote international economic growth, leading to the IMF and World Bank.

Structural Adjustment Programs (SAPs)

Loans provided to countries experiencing poverty to promote financial growth, accompanied by policies they must follow.

key paradox of poverty

Most 'poor' countries are rich in natural resources.

Arturo Escobar

A Colombian-American scholar known for his work on international development and his book 'Encountering Development'.

major argument of Arturo Escobar's theories

International development is a vehicle of neocolonialism, and the categorization of countries as developed or underdeveloped is socially constructed.