CHAPTER 9 – GLOBAL INEQUALITYRefers to the systematic differences in wealth and power between countries- Globalization = increased interconnectedness of the worldTHEORIES OF GLOBAL INEQUALITYo 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 growtho Dependency Theories Low-income countries enter poverty become of their exploitation by wealthy countries and by the multinational corporations that are based inwealthy countries Colonialism colonization of other countries Dependent development = poor countries can still develop economically only shaped upon reliance on wealthier countrieso World-Systems Theory Interconnections among countries based on the expansion of a capitalist world economy- Made up of core, semiperiphery and periphery countrieso Market for goods and laboro Division of population into dif economic classeso International system of political relationso Division of world into three uneqal economic zones Core = most advanced Periphery = low-income Semiphery = semi-industrializedo Global Commodity Chains Theory Worldwide networks of labor and production processes yield a finished product EVALUATING THEORIES OF GLOBAL INEQUALITYo Market-oriented theories recommend adoption of modern capitalist institutions to promote economic developmento Dependency theories emphasize how wealthy nations exploit poor oneso 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 alikeo The theory of global commodity chains focuses on global businesses and their activities rather than relationships between countriesRESEARCH ON GLOBAL INEQUALITY TODAY- Health- Hunger, malnutrition, famine- Education and
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