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Lecture 10 and 11 Notes - Globalization and Global Environment Complete analysis of these 2 topics covered. In-depth summaries with good examples!!!!!

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University of Waterloo
SOC 101
Barry Mc Clinchey

Globalization and Poverty December 1 2010Poverty is defined as Absolute poverty ObjectPeople are living in a state where theres a failure to provide basic needs of life water food etc Low income cutoffArbitrary amount of yearly income that if you fall below that you cant obtain basic necessities of life Relative PovertyPeople perceive that they dont have what they think they deserve to have in a society These terms are used to measure a degree of society in regards to poverty Market Basket ApproachGenerates an imaginary collection of goods and services that government put together to determine what it takes to live healthy in a communityOne way to address poverty is for wealthy to give people that dont have anything whatever they need Ex Rich countries to give poor countries money Many theorists dont agreeTrickleDown theoryStop giving people money We should do something much bigger Spend less time focusing on people who are down and out and concentrate on stimulating economic growth that would benefit everybody Governments in the United States have followed this approach Corporations must be healthy and strong More of a philosophical and political approach World Bank encourages this approach and International Monetary Fund They argue that poverty is decliningGlobalization and Inequality Out global society is characterized by countries with good standards of living and economy In Europe Germany is very strong Most EU countries are struggling and looking at Germany for helpThe income of the worlds richest 50 people combines are greater than incomes of poorest 416 million combinedGross Domestic Product GDP Each persons share of the countries economic activity Population of country divided by assetsA way of looking at a measurement as equal because same measurement is used to calculate each countryForeign Aid Global North is assumed to be a collection of countries that run things Ex Corporations Standards of living are high Global north give money and help to global southGlobal South Countries that are disadvantaged2007 22 member countries of the OECD provided 10365 billion in assistance
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