CHAPTER 9 GLOBAL INEQUALITY Refers to the systematic differences in wealth and power between countries Globalization increased interconnectedness of the world THEORIES OF GLOBAL INEQUALITY o Market Oriented Theories Best economic consequences will result if individuals are free from gov t constraint to make own economic decisions Modernization theory can only develop if they adopt modern economic institutions Neoliberalism free market only route to economic growth o Dependency Theories Low income countries enter poverty become of their exploitation by wealthy countries and by the multinational corporations that are based in wealthy countries Colonialism colonization of other countries Dependent development poor countries can still develop economically only shaped upon reliance on wealthier countries o World Systems Theory Interconnections among countries based on the expansion of a capitalist world economy Made up of core semiperiphery and periphery countries o Market for goods and labor o Division of population into dif economic classes o International system of political relations o Division of world into three uneqal economic zones Core most advanced Periphery low income Semiphery semi industrialized o Global Commodity Chains Theory Worldwide networks of labor and production processes yield a finished product EVALUATING THEORIES OF GLOBAL INEQUALITY o Market oriented theories recommend adoption of modern capitalist institutions to promote economic development o Dependency theories emphasize how wealthy nations exploit poor ones o World systems theory analyzes world economy as a whole looking at the complex global web of political and economic relationships that influence development and inequality in poor and rich nations alike o The theory of global commodity chains focuses on global businesses and their activities rather than relationships between countries RESEARCH ON GLOBAL INEQUALITY TODAY Health Hunger malnutrition famine Education and Literacy
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