SOC101 Chapter Notes - Chapter 19: Modernization Theory, Capital Accumulation, General Agreement On Tariffs And Trade
10 Aug 2016
School
Department
Course
Professor
Document Summary
Globalization: worldwide exchange of money, goods and services as well as the socio-cultural changes that occur as a result. Colonization: the political, economic, and cultural domination of countries in asia, africa, and americas by european countries starting in the sixteenth century. Globalization today today"s economies are more interdependent and integrated than ever before advances in technology has made the world an increasingly smaller place global development has created vast chasms between the rich and the poor around the world. Defining global stratification stratification occurs when a society organizes people into a hierarchical system according to their social class. Command economy: an economy in which the state rather than market forces, manages the production and distribution of goods. Undeveloped: countries with poor economies; problematically implies a lack of economic talent or exposure. Underdeveloped: countries that have yet to industrialize, or that have been intentionally restricted in their development by developed nations.
