SY101 Study Guide - Midterm Guide: International Monetary Fund, Labor Rights, Core Countries
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SY101 Full Course Notes
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Income- refers to a flow of money over time in the form of a rate (per hour, per week, per year). It is what people receive through work, retirement, or social welfare. Wealth- collection of assets owned- real-estate, investments, etc. (having homes but you have no income coming in, you can wealthy through the collection of assets but be money poor) Class structures, class inequalities often times means the differences in wealth. Characterized by the spread and intensification of capitalism across the globe. Globalization involves the interaction and integration of increasing numbers of people in the world through international trade and investment, travel and tourism, and information technology and the mass media. Globalization is more than movement of goods services and capital. Often leads to disappearance of local enterprises, restaurants, entertainment venues in favour of branch plants of foreign based transnational corporations. Trade liberalization to cut back taxes and tariffs market is liberalized to make more exchanges.
