POL 101W Study Guide - Final Guide: Official Development Assistance, Comparative Advantage, Structural Adjustment
7 Dec 2016
School
Department
Course
Professor
Document Summary
Development: 3 goals: satisfying the basic needs of everyone as well as means to live fulfilling and productive lives, builds a diversified and sophisticated economy, development needs to be environmentally sustainable. Third world, the south, developing countries: a poor agricultural country that is seeking to become more advanced economically and socially. Gdp: gross domestic product tends to be higher in more developed countries. Ppp: purchasing power parity, big mac index: real purchasing power is higher in developed countries. Human development index (hdi): measures education, life expectancy, per capita gross. Free-market economic models: a market economy based on supply and demand with little or no government control. Modernization theory: argues that poor countries have to change their traditional values, institutions, and practices by copying developed countries. Gives economic elites and workers more power compared to government. Leads to rulers depending on large number of people to collect tax revenue, causing more representative government to emerge.
