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| a term used to refer to the world's wealthy, industrialized countries located primarily in the Northern Hemisphere. |
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| a term now often used instead of "Third World" to designate the less developed countries located primarily in the Southern Hemisphere. |
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| the native ethnic and cultural inhabitant populations within countries, referred to as the "Fourth World". |
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| a Cold War term to describe the less developed countries of Africa, Asia, the Caribbean, and Latin America. |
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| the relatively wealthy industrialized countries that share the commitment to varying forms of democratic political institutions and developed marked economies, including the United State, Japan, the European Union, Canada, Australia, and New Zealand. |
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| during the Cold War, the group of countries, including Soviet Union, its (then) Eastern European allies, and China, that embraced communism and central planning to propel economic growth. |
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| countries with limited political, military, or economic capabilities and influence. |
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| the achievement of sovereign independence by countries that were once colonies of the great powers. |
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| a government trade strategy for accumulating state wealth and power by encouraging exports and discouraging imports. |
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Term
| classical liberal economic theory |
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Definition
| a body of thought based on Adam Smith's ideas about the forces of supply and demand in the marketplace, emphasizing the benefits of minimal government regulation of the economy and trade. |
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| the philosophical principle of free markets and free trade to give people free choices with little government regulation. |
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| the radical ideology maintaining that if society is organized so that every person produces according to his or her own ability and consumes according to his or her own needs, a community without class distinctions will emerge, sovereign states will no longer be needed, and imperial wars of colonial conquest will vanish from history. |
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| the theoretical outlook prescribing that countries should increase their power and wealth in order to compete with and dominate other countries. |
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| the liberal doctrine that people should be able to determine the government that will rule them. |
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| a foreign policy posture that rejects participating in military alliances with rival blocs for fear that formal alignment will entangle the state in an unnecessary involvement in war. |
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| countries that do not form alliances with opposed great powers and practice neutrality on issues that divide great power. |
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Term
| Nonaligned Movement (NAM) |
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Definition
| a group of more than one hundred newly independent, mostly less developed, states that joined together as a group of neutrals to avoid entanglement with the superpowers' competing alliances in the Cold War and to advance the Global South's primary interests in economic cooperation and growth. |
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Definition
| a category used by the World Bank to identify low-income Global South countries with a 2009 GNI per capita below $935 and middle-income countries with a GNI per capita of more than $935 but less than $11,456. |
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Term
| gross national income (GNI) |
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Definition
| a measure of the production of goods and services within a given time period, which is used to delimit the geographic scope of production. GNI measures production by a state's citizens or companies, regardless of where the production occurs. |
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Definition
| a category used by the World Bank (WDI 2009) to identify Global North countries, with a GNI per capita of 411,456 or more annually. |
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| least developed of the less developed countries (LLDCs) |
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Definition
| the most impoverished countries in the Global South. |
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Definition
| the processes, economic and political, through which a country develops to increase its capacity to meet its citizens' basic human needs and raise their standard of living. |
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| a view of development popular in the Global North's liberal democracies that wealth is created through efficient production, free enterprise, and free trade, and that countries' relative wealth depends on technological innovation and education more than an natural endowments such as climate and resources. |
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Term
| import-substitution industrialization |
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Definition
| a strategy for economic development that centers on providing investors at home incentives to produce goods so that previously imported products from abroad will decline. |
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| export-led industrialization |
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Definition
| a growth strategy that concentrates on developing domestic export industries capable of competing in overseas market. |
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Definition
| the separation of a country into two sectors, the first modern and prosperous centered in major cities, and the second at the margin, neglected and poor. |
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Term
| newly industrialized countries (NICs) |
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Definition
| the most prosperous members of the Global South, which have become important exporters of manufactured goods as well as important markets for the major industrialized countries that export capital goods. |
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Definition
| the industrialization of peripheral areas within the confines of the dominance-dependence relationship between the Global North and the Global South. which enables the poor to become wealthier without ever catching up to the core Global North countries. |
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| the rapidly growing economies of East and South Asia that have made those countries competitors with the traditionally dominant countries of the Global North. |
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| multinational corporations (MNCs) |
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Definition
| business enterprises headquartered in one state that invest and operate extensively in many other states. |
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| to world-system theorists, countries midway between the rich "core" or center,and the poor "periphery" in the global hierarchy, at which foreign investments are targeted when labor wages and production costs become too high in the prosperous core regions. |
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| the four Asian NICs that experienced far greater rates of economic growth during the 1980s than the more advanced industrial societies of the Global North. |
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| the trnsfer of jobs by a corporation usually headquartered in a Global North country to a Global South country able to supply trained workers at lower wages. |
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Term
| purchasing power parity (PPP) |
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Definition
| an index that calculates the true rate of exchange among currencies when parity-- when what can be purchased is the same-- is achieved; the index determines what can be bought with a unit of each currency. |
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| the coalition of Third World countries that sponsored the 1963 Joint Declaration of Developing Countries calling for reform to allow greater equality in North-South trade. |
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| New International Economic Order (NIEO) |
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Definition
| the 1974 UN policy resolution that called for a North-South dialogue to open the way for the less developed countries of the Global South to participate more fully in the making of international economic policy. |
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Definition
| economic assistance in the form of loans and grants provided by a donor country to a recipient country for a variety of purposes. |
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Definition
| interactions between two transnational actors. |
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Term
| official development assistance (ODA) |
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Definition
| grants or loans to countries from donor countries, now usually channeled through multilateral aid institutions such as the World Bank for primary purpose of promoting economic development and welfare. |
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