POLI 227 Lecture Notes - Lecture 2: Gross National Income, Industrial Revolution, Human Development Index
8 May 2017
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Document Summary
Global economic power used to be centered in asia but shifted to europe and western society through the industrial revolution and colonialism. Trade issues have become a big deal because the world seems to be adjusting to its historical pattern of balance as opposed to western domination of economics. There have been dramatic decreases in extreme poverty in the developing world and in child mortality. Much of these negative figures have fallen in half. Enrollment rates in primary education are now approaching 90% Women"s education is especially important for child mortality rates. Helps increase health outcomes, attracts investment, allows for rapid development. Third world: the rest, but now implies development. Hipcs: subclass that concerns imf and world bank because these nations have serious external debt issues. Using gross national income, gross national product, or gdp/capita. Easiest way to measure but variations in cost of living exist. Thus ppp (purchasing power parity) developed to equalize differences in cost structure.
