Term
Economic systems in the world
CAPITALISM |
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Definition
| individuals own propety, not guarantee for jobs and basic needs, social stratification, produciton for profit not use |
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Term
Economic Systems in the world
WELFARISM |
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Definition
| basically capitalism but these nations provide for basic needs. Norway, Denmark, Sweden, Finland, Netherland. get $ from taxes. (ex: guy had to pay thousands of dollars for speeding ticket in Finland) |
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Term
Economic systems of the world
SOCIALISM |
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Definition
means of production are owned by the state
production for use not profit
NO soicial stratification
state is responsible for basic needs |
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Term
the global economy in transition
PRIMARY SECTOR |
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Definition
focuses on getting resources. depend heavily on the exploitation and use of natural resources.
every poor country is in this sector
depletion of resources=problem
Saudi Arabia |
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Term
the global economy in transition
SECONDARY SECTOR |
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Definition
manufacture, process, and sell the goods to world market. Has to have industrialization. Take the resources and process them.
ex: cotton=clothing. corn=cereal
make more than primary sector.
US was after industrial rev |
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Term
the global economy in transition
SERVICE SECTOR |
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Definition
economy cirlces around serving the ppl.
US is now. but we also have a little of every sector.
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Term
the global economy in transition
QUARTERNARY SECTOR |
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Definition
| state of technology. based on technical knowledge influences by modern technology |
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Term
theories of international trade
LIBERALISM |
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Definition
Adam smith
markets evolve themsevesl thro 3 freedoms
international trade leads to cooperation |
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Term
theories on international trade
ECONOMIC NATIONALISM
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Definition
Economic activities should focus on building the nation
national security is more important than trade
miliary--to protect the interests of the nation |
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Term
theories on international trade
MARXISM |
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Definition
capitalism and exploitation
its self destructive
dependency theory of AG Frank=rich nations depend and exploit poor nations which leads to poor naitons depending on rich to survive |
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Term
theories on international trade
COMPARATIVE ADVANTAGE |
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Definition
globalization
david ricard0=go to where there is profit.
industrialization and international trade is based on this comparative advantage.
production based on comparative costs. |
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Term
theories on international trade
THE NEW TRADE THEORY
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Definition
good economic decision to have imports and exports
trade among rich nations is good and profitable
history and chances was colonialism now is similar but not tied to colonies
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Term
theories on international trade
STRATEGIC TRADE |
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Definition
National govts should encourage certain companies
national industrial policies should be present not for other countries just for your nation |
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Term
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Definition
economic, political, and military domination to Impose ones will on other regions/nations for its own stability.
colonialism.
new kind of imperialsim
new hegemonies of domination of economies and politics of other nations instead of colonies. |
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Term
evolution of the world economic systems
IMPERIALISM |
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Definition
| was colonialism. now it is domination thro transnational corps and financial giants. dominate economy |
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Term
evolution of the world economic systems
THE BRETTON WOODS SYSTEM |
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Definition
New Hampshire conference after WWII creates
IMF--reconstruct Europe/Japan
World Bank--""
GATT (general agreement on trade and tariff)--rules and regs to control int. trade
WTO--world trade organization (new version of GATT)
Marshall plan--16 nations, to strengthen those nations with money. selfless plan. give money to rebuild poor. Huge Impace of Japan and Germany
soviet union did not participate
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Term
| USA history of economic developement |
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Definition
discovery of new lang
european immigrants
natural resources
european model of development
WWII
political stability
superior technical skills
nations of inventors |
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Term
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Definition
economic indicators=rich
social indicators=0.5%
population large
life expectancy 78
infant mortality 6.1
huge domestic market
still rich
technical skills
best management skills
computer industry
role of immigrants
college ed
America in crisis makes changes |
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Term
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Definition
new players (super powers competeing BRIC Japan Euro)
capitalist probs=inequality, functional illiteracy, pop. below poverty
economic and military power
decline in and changing role of natural resources
environemtns depleting
new products and new processes used and reproduced better
skills of american workers declined
(also trade imbalance, budget deficit, assets, consumers, infrastructure, declining quality, poor neighboring markets) |
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Term
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Definition
| will remain super power but not as powerful as it used to be |
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Term
| History of Western Europe development |
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Definition
was a welfare system that worked well but now with the economic fall out the welfare system is hard to sustain
1) UK
2) Germany-#1 in Europe
3) France
4) Rest of Europe |
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Term
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Definition
economic indicators good
social indicators=natural increase (0.0%) population large, life expectancy (76) infant mortality (6)
still rich
technical skills
infrastructure=quality
economic and political stability
welfarism |
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Term
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Definition
natural resources deplete
technology lesss productive than super powers
dependency on foreign trade (too much imports)
welfare budget
unions
unemployment (9/10%)
internal conflicts
elitism (house of lords/royalty)
population decline and immigration policies
increasing global competition |
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Term
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Definition
EEC (European Union)
Euro Dollar
Euro passport
Free trade zone
support of private firms
European commission
parliament
United states of Europe
these were working untilt the economic collapse. now it is difficult to sustain the European Union |
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Term
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Definition
Economic indicators
soicial indicators=natural increase (-.01%), life expectance(83) population smaller infant mortality (2.6)
role of US after WWII
role of Japanese govt=committed to reconstruction at that time
licensing and patent agreements (with US allowed them to start USbusinesses in Japan)
low wages
economic and political stability
very disciplined and organized
significance of family
crime rate
collective good |
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Term
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Definition
was #2 but now #3 after China
export based economy
stagnant local demand
declining pop
natural resources
shrinking markets
immigration policy |
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Term
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Definition
| will still be strong but remaining 2 or 3 will not stay the same |
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Term
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Definition
Japanese model of development (copiers)
industrialization very rapid
market economy boom
foreign investments (from corps)
huge domestic market
growing middle class
successful pop control policy
cheap labor
science and engineering |
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Term
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Definition
large pop mostly in poverty
influence of communist party
state owned business
environmental issues
local market is still poor
increasing inequality
increasing corruption and other crimes |
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Term
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Definition
| #2 predict it may become #1 or compete for one. It is an economic giant at this time unless something happens |
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Term
| Korea, Taiwan, Hong Kong, Singapore past development and strengths |
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Definition
japanese model of development
rapid industrializaiton
collective good (Michael Fay in Singapore "crime")
hard work
good in physical sciences |
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Term
| Korea, Taiwan, Hong Kong, Singapore Problems |
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Definition
new rules by American firms (like Samsong problem)
limited local market
market access shrinking due to self sufficiency
increasing inequality
exploitation of labor
environmental issues |
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Term
| Future for Korea Taiwan Hong Kong, Singapore Future |
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Definition
| wont be super powers. remain mid size economies and realively well off for times to come |
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Term
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Definition
| created by the UK then became a country. conflict with Palestine as a country. Consumed many resources and still is |
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Term
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Definition
difficult to convince ppl of conlifcts between Israel and Palestine
not all Arab countries are oil industries but still depends on it
extreme inequality
still need industrialization
good welfare system in some of these countries
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Term
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Definition
| Bangledash split from Pakistan based on religion. mass murder and movement. trying and struggling to recover. problems=lack of resources, population increase, and corruption |
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Term
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Definition
| similar to Burma and Bangladesh's relationship and histroy |
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Term
| Pakistan, India, and Indonesia |
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Definition
India splits into 2 countries (pakistand and India) based on relgion.
mass migratio--Hindu's to India, and Muslims to Pakistan
mass murders
India=ruled by socialist parties. nationalists. opened doors to trade later
Compared to Pakistan India is much better and is the largest country of democracy in the world (holds all relgions)
India is much better than the rest of these countries of Middle East |
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Term
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Definition
If God Gives you Africa as a gift with one condition being to fix the problems, the smart move would be to say thanks and give it back
economic and political issues
environmental problems
social issues
internal conflicts |
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Term
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Definition
trying to unify
in the next 20 years like China was the source for Cheap labor then Africa will be the next. starting to already ahppen. may start an industrial revolution if this occurs. |
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Term
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Definition
political unrest between 3 powers (drug lords, the rebellion, and those in power)
internal conflicts
slow economic growth
bureaucracy paying under the table and is complex/corrupt
technical progress usually slow
population growth
internaitonal debts |
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Term
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Definition
| not very poor. has a number of mid size economies. not possible to predict that they could suddenly become a super power but is possible that Brazil and Mexico may become a visible economy in the future. |
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Term
Former Soviet Block I: Russia
Strengths |
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Definition
technical skills
industrail base better compared to Africa etc.
Huge Market
educational system
science and engineering
space technology |
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Term
Former Soviet Block I: Russion
Problems
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Definition
political unrest
corruption
russian mafia (ex: David Copperfield)
economic growth is slow |
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Term
Former Soviet Block I: Russia
Future |
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Definition
| not poor and may still become an economic super power. one of the BRIC nations (Brazil, Russia, India, and China) |
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Term
Former Soviet Block II: Bulgaria, Croatia, Czech, Hungary, Moldova etc.
Strengths |
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Definition
industrial base
market economy
technical skills
education |
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Term
Former soviet block II: bulgaria, croatia, czech etc.
problems |
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Definition
political unrest
corruption
traditional technology
declining population
societies in transition |
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Term
former soviet block II: Bulgaria, croatia, czech etc.
future |
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Definition
| Much better future than Asian, Latin, or African countries |
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Term
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Definition
Duncan
1) population--too much or too little is not good. must be balanced
2) organization--too much or too little is not good. balance
3) environment--overuse or underuse is not good. balance but can use if you have them
4) technology--over use or under use is not good. use it in balance |
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Term
3 population variables
FERTILITY |
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Definition
actual birth performance as compared with fecundity (which is the physiological capacity to reproduce)
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Term
3 population variables
MORTALITY
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Definition
| death is permanent disappearance of all evidence of life in any time after birth has taken place it excludes abortion, still births, and miscarriages. |
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Term
3 population variables
MIGRATION |
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Definition
Permanent spatial mobility between clearly defined two geographic units. move from one place to another.
internal migration
international migration
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Term
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Definition
total population(P)=Fertility (F) +/- Mortality (M) +/- Migration (Mig)
P=F+/-M+/-Mig |
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Term
| Three effects of population in relation to fertility, mortality and migration |
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Definition
population growth
populatio composition
population distribution |
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Term
| Malthusian Theory of population |
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Definition
survival of the fittest
population doubles when unchecked
subsistence increase arithmatically
an uncheck population will double in 25 yrs |
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Term
| Malthusian theory and the two checks on population |
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Definition
postive checks=hunger, disease, natural disasters, (natural causes)
negative checks=late marriages, abstinence, etc. (man made)
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Term
| Criticism of Malthusian theory |
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Definition
the ratios of growth were unrealistic--didnt realize the power of population checks
did not forsee the impact of industrialization on fertility |
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Term
| Demographic transition theory on population |
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Definition
3 different types of societies
1) traditional societies: high fertility and high mortality=population stays the same
2) societies in transition: high fertility and low mortality=population explosion or major change
3) industrialized and urban societies: low fertility and low mortality=population stays the same |
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Term
| Wealth Flow theory and population |
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Definition
Caldwell
fertiliy depends on the social reasons for having kids, both material and non material
1) fertility is high in societies where the intergenerational wealth flow (material and non material) is from children to parents
2) a more reversal of this flow eliminates the demand for more children. |
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Term
| Top and bottom rates for life expectancy |
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Definition
Top=Iceland 81.5 (discussion=Japan)
Bottom=Sierra Leone (41.8)
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Term
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Definition
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Term
| Top and Bottom School Enrollment |
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Definition
top-Australia
bottom-Niger |
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Term
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Definition
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Term
| lowest adult literacy rate for women |
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Definition
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