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| Global stratification examines |
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Definition
| the ranking of different countries in terms of power, property and prestige. |
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| Global stratification is the unequal distribution of |
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| wealth, power and prestige on a global basis that results in people having vastly different lifestyles and life chances among (and within) world nations |
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| poverty would be measured by comparing personal or household income or expenses with the cost of buying a given quantity of goods and services. |
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| when people may be able to afford basic necessities but are still unable to maintain an average standard of living. |
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| would be measured by comparing the actual income against the income earner’s expectations and perceptions. |
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| After world war 2 – based on economic development and standard of living |
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| – rich, industrialized nations with capitalist economy and democratic political system |
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| nations with modest economic development and standard of living |
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| poorest nations with little or no industry, low standard of living, shortest life expectancy, and highest rates of mortality |
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Economic development as cure
Developed
Less developed and developing
Underdeveloped – sustainable development but lowest gross national product
Greater economic development actually led to greater inequality
Increase in standard of living doesn’t reduce percentage of poverty
Controversial because it mandates developed nations’ values and beliefs
Should emphasize controlling population growth and environmental issues
Income disparity between rich and poor nations and between populations within nations |
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| Classification of economies by income |
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| High-Income Countries, Middle-Income Countries, Low-Income Countries |
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| Characterized by highly industrialized economies; technologically advanced industrial, administrative, and service occupations; and high levels of national and per capita income. |
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| Nations with industrializing economies, particularly in urban areas, and moderate levels of national and personal income. |
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| - Primarily agrarian nations with little industrialization and low levels of national and personal income. |
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measure of income inequality
0 = everyone has same income
100 = one person has all the wealth |
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| New International Division of Labor Theory |
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Definition
-Production is split into fragments that can be assigned to whichever part of the world can provide the most profitable combination of capital and labor
-Transnational corporations control production from autos to computers
-Economy is buyer driven with large retailers and brand name companies setting up decentralized networks
-High income countries are dependent on low income countries for labor |
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Global inequality is linked to levels of economic development
Low income can pull themselves up by bootstraps through self-sustained economic growth and changes in beliefs, values and attitudes toward work
Need to foster individualism, competition & achievement
Process:
Traditional stage – fatalistic and little change
Take off- economic growth, individualism and competition
Technical maturity – improve technology and embrace developed countries’ values
High mass consumption – enjoy high standard of living |
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-Poor nations are trapped in a cycle of dependency on richer nations.
-Global inequality because high income countries have exploited low income countries
-Newly industrializing countries are prime exploiters
-Transnational corporate exploitation is cause of inequality |
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Definition
Capitalist world economy is a global system divided into a hierarchy of 3 types of nations. It is held together by economic ties resulting in a complex system of benefit and exploitation.
Core nations – industrialized and urbanized – most capital and technology – U.S. and Japan
Semi-peripheral – compose mid-point- promote stability in 3 tier economy-provide labor and raw material – S. Korea and Mexico
Peripheral – dependent on core nations – local wealthy benefit from poor workers’ labor and from economic relations with core nations-have little or no industrialization and uneven urbanization - countries of Africa and South America
How a country is incorporated into the global capitalist economy is the key feature in determining how economic development takes place in that nation. |
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| Global Inequality in the Future |
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Definition
Pessimistic view is that continued population growth, urbanization and environmental degradation threaten those living in low income nations. Global corporate domination could level incomes around the world resulting in wage decreases in high income countries
Optimistic view is that modern technology and worldwide economic growth can reduce poverty and increase opportunities world wide |
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