MGI inequality vocabulary

Human Development

enlarging people’s freedom and improving their well-being

Social Development

investing in people and developing policies in social, cultural, and political aspect

Protectionism

government-imposed trade restriction limiting the amount or value of import/exports

Minimum Wage

the minimum hourly wage a company can legally pay a person

Cultural Poverty

deprivation of cultural awareness

Neo-Colonialism

the indirect control of a nation’s economy and politics, usually by multinational corporations (MNCs)

Free-Trade

international trade left to its natural course without tariffs, quotas, or other restrictions.

Equal Opportunities

the policy of treating employees and others without discrimination, especially on the basis of race, sex, age, or disability.

Economic Development

the process in which an economy grows or changes and becomes more advanced, especially when both economic and social conditions are improved

Consequences of Inequality

curtail a person's human rights, through discrimination, abuse and lack of access to justice.

Health & Economic Development

Health affects economic growth directly by increasing labour productivity and decreasing the costs of illnesses.

Disaster Relief

money to help rebuild an area after a disaster

Millennium Development Goals

1. to eliminate extreme poverty and hunger;

2. to achieve global primary education;

3. to empower women and promote gender equality;

4. to reduce child mortality;

5. to promote maternal health;

6. to fight malaria, HIV/AIDS, and other diseases;

7. to promote environmental sustainability; and

8. to develop a universal partnership for development.

Global Credit Crisis

period of extreme stress in global financial markets and banking systems between mid 2007 and early 2009

Income Inequality

how unevenly income is distributed throughout a population

Absolute Poverty

when a person or household does not have the minimum amount of income needed to meet the minimum living requirements needed

Effects of Poverty on Health

obesity, smoking, substance use, and chronic stress

Social Poverty

oppression, people groups that are undervalued and have few rights

Income Equality

Economic egalitarianism, a state of economic affairs in which equality of outcome has been manufactured for all participants

Relative Poverty

when households receive 50% less than average household incomes

Perspective

viewpoint on an issue

3 types of perspectives

personal, national, global