SOC 1305 Lecture Notes - Lecture 2: Neocolonialism, Socioeconomic Status, Mortality Rate
Document Summary
Unequal distribution of wealth, power, and prestige on a global basis: resulting in vastly different lifestyles. Low income countries: agrarian with little industry. Middle income countries: industrialization but agriculture is still important. High income countries: relatively rich, industrialized nations, control the world"s financial markets. At least 80% of humanity lives on less than a day: in 2012, 12. 7% lives on . 90 a day. Poverty in poor countries is more severe than in rich countries. Economic productivity is lowest where population growth is highest. Relative poverty: defining people as poor by comparing their income relative to other people in society. Absolute poverty: measure of the minimum requirements needed to meet basic needs. Gini coefficient: the degree of inequality in the distribution of family income in a country. Modernization theory: explains global inequality in terms of technological and cultural differences. The entire world used to be poor. Rich nations are the core of the world economy.
