development glopo

a sustained increase in the standard of living and well-being of a level of social organization

economic growth

• Link to economic liberalism/neoliberalism

• Income for basic needs / GDP

• Free-market system

• based on resistance movements in the global South and anti-capitalist and anti-globalization movements

  • Humanistic view

  • Self-reliance (not on wealthy states)

  • Ecological balance / global commons

  • Social/cultural inclusion of marginalized groups

  • Southern consensus = merge of economic growth and state intervention

  • Neomercantilist development - Asian tigers

  • Feminist - women for development

market value of all final goods and services produced in a country over a year regardless of who owns the factors of production

• a summary measure of long-term progress in three basic dimensions of human development:

  • Long & healthy life (life expectancy at birth)

  • Knowledge (expected years of schooling and mean years of schooling)

  • Decent standard of living (GNI per capita at PPP)

• a summary of the distribution of income in an economy

  • The further from the ‘Line of Absolute Equality’ the Lorenz Curve is, the more unequal the distribution of income

  • The higher the number, the less equal the distribution of income

• a measure of sustainable well-being that ranks countries on how efficiently they deliver long, happy lives using limited environmental resources

  • 3 domains measured include life expectancy at birth, well-being, and ecological footprint

measures all national income of residents of a country regardless of where those FOP are located

•  an international measure of acute multidimensional poverty covering 100 developing countries

  • Domains measured include deprivations in health, education, and living standards/basic infrastructure services

  • Suggested by the World Bank

• diagnostic tool built to objectively measure a country’s sustainable economic growth and citizen well-being, covering three broad categories: sustainability, economics, and investments

  • Sustainability - environment, civil society, governance, and income equality

  • Economics - income, economic stability, employment

  • Investments - Infrastructure, education, health

ranks 180 countries and territories around the world by their perceived levels of public sector corruption, scoring on a scale of 0-100

• Structural functionalist approach 

• Links global stratification to cultural and technological differences

• Argues that tensions between tradition and technological change are the biggest barriers to growth

• Four stages to development:

  • Traditional Stage - small, local communities with family settings

  • Take-Off Stage - individual talents produce more than mere necessities to promote new markets for trade

  • Drive to Technological Maturity - population growth leads to reductions in absolute poverty levels, giving rise to diverse job opportunities

  • High Mass Consumption - when a country is big enough for production to be more about wants than needs

• Criticisms

  • Supports idea that capitalism = only way to develop

  • Overlooks historical details like how slavery and resource depletion factor into development; Euro-centric

  • Blames less developed nations for not accepting change

• Focus on how poor countries have been wronged by richer nations

• Argue that global stratification starts with colonialism, which resulted in the exploitation of natural and human resources to funnel wealth back to the West

• Global wealth not distributed well

• Immanuel Wallerstein’s ‘capitalist world economy’ 

  • High-income countries = core / manufacturing base of world economy

  • Low-income countries = periphery (natural resources and wealth support wealthy countries)

  • Middle-income countries = semi-periphery w/ closer ties to core

• Criticisms

  • The world economy is NOT a zero-sum game (one country does not get richer if the other gets poorer)

  • Innovation and technological growth can benefit all countries well-being

  • Colonialism itself cannot explain modern economic disparities

  • Foreign investment by richer nations helps (rather than hurts) poorer countries

  • Only blames capitalism, not culture or political regimes, presenting no solutions to poverty

• Management Practices

  • Free-market capitalism

  • Socialism

• Political Stability

  • Inter and intra-state conflicts → “development in reverse”

  • Loss of life, forced migration, disease, etc.

  • Disincentivises investments

  • UN High-Level Panel Report

• International relations

• Access to capital, credit, and aid

  • Natural or human capital (building block to foster growth)

  • Microfinance and mobile banking

  • Aid to provide basic services (food, clothing, healthcare)

• values cultures + tradition

• gender matters: Expansion of capabilities, good quality human capital, family security

• migration: refugees vs. economic migrants

• efficacy of national + local institutions

• The World Bank

• The International Monetary Fund (IMF)

• UN

• Health & well-being

  • Tropical climate and disease

  • Nurtient-rich soil → agricultural prosperity

• Coastal access decreases costs, increases connectivity

• Negative impacts of climate change

  • Rising sea levels

  • Floods

  • Droughts → food insecurity

opening of the economy to trade and investment from the outside world by eliminating or reducing barriers to international trade like tariffs and quotas

• promotes free trade + increase flow of goods + services between countries

• access provided to larger markets

• increased inequality

• job displacement

• vulnerability to global economic fluctuations

an economic strategy focused on producing goods and services primarily for export to foreign markets

• boosts export revenues, enhances competitiveness in international markets, and diversification of economies

• economic growth = foreign exchange earnings = attracts foreign investment

• dependency on external demand = domestic markets vulnerable to ext. shocks

•  economic development driven by the export of primary commodities, such as agricultural products, minerals, or oil

  • heavy reliance on the exploitation + export of natural resources for revenues + short-term gains 

  • price volatility, resource depletion, environmental degradation, and limited diversification of the economy

  • susceptible to fluctuations in global commodity markets = badly sustained long-term development.

movement of people from one place to another within or across borders

• promoted by globalization, cheap transport, and blurred borders → high levels of foreign exchange (currency), investment in infrastructure, and provides revenue for airlines, telecommunications, etc. 

• = low-paying jobs = inhibit development.

• process by which an individual or group convert an idea into a business or economic activity

  • econ growth: job opportunities + capital

  • innovation + increase in GNP + foreign currency within country

• knowledge and intellectual capabilities, or the “production, distribution, and use of knowledge and information”

  • criteria: educated workforce, sound infrastrutcure, entrepreneurship, investment in info + comm. tech, and think tanks/research institutions

system devised to ensure that the production process allows for the recycling of materials and products

accruing foreign currency reserves to promote development and permit advantageous currency manipulation