Changing Global Economy and Sustainability Lecture Review

Flashcards based on the lecture notes covering key concepts in economic development, globalization, gender equality, and sustainability.

What are Rostow's Stages of Economic Growth?

A theory that argues all countries can attain higher levels of development by progressing through a five-step process.

What does Wallerstein's World Systems Theory propose?

The world will remain divided among periphery, semiperiphery, and core regions.

Name TWO countries or regions of the world that Rostow's model was based on.

Examples include the United States and Western Europe.

Why is improving a country's infrastructure considered a precondition for economic development according to Rostow's model?

A well-developed infrastructure supports trade, investment, and connectivity, enabling economic growth.

What types of economic products do periphery countries supply to core and semiperiphery countries?

Typically, periphery countries supply raw materials and agricultural products.

What economic role do semiperiphery countries serve for core countries?

Semiperiphery countries often serve as manufacturing hubs, producing goods for core countries.

Why do world systems theorists argue that multinational corporations act as a neocolonial economic force?

They exploit labor in developing countries and maintain economic control over resources and markets.

Describe ONE change that has increased gender equality in the past 20 years.

The rise of women in the workforce, particularly in industries like textiles and services.

Describe ONE challenge that societies still face in achieving gender equality.

Persistent wage gaps and underrepresentation of women in leadership roles.

What is globalization and how has it affected economic changes?

Globalization refers to the interconnectedness of economies through trade and technology, impacting labor distribution and manufacturing.

What is outsourcing?

Outsourcing involves contracting work to non-company employees or other companies to reduce costs.

What is offshoring?

Offshoring refers to relocating business processes to lower-cost countries.

What is the 'just-in-time delivery' system?

A system where materials arrive at production sites precisely when needed, reducing storage costs.

What are export-processing zones (EPZs)?

Special manufacturing zones that offer tax breaks and other incentives to attract foreign companies.

What are brownfields?

Abandoned industrial sites that are often contaminated and need remediation.

What is sustainable development?

Using resources to meet current needs without compromising future generations' ability to meet theirs.

What is the ecological footprint?

The measure of human demand on Earth's ecosystems, representing the area of land needed to sustain resource use.

What does the Sustainable Development Goal (SDG) focus on?

Goals set by the UN to address global challenges including poverty, inequality, and climate change.

Give an example of ecotourism. What is its goal?

Visiting natural areas to support conservation; its goal is to promote sustainable practices while benefiting local economies.

What are some impacts of climate change?

Increased frequency of disasters, rising sea levels, and shifting agricultural patterns.

What is the significance of technopoles?

Technopoles are hubs for high-tech industries and innovation, fostering economic growth.