Global Inequality and Development
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Questions and Answers

What population percentage owns 44% of the world's wealth?

  • 20%
  • 10%
  • 1% (correct)
  • 5%

    • Which of the following is NOT included in the mainstream definitions of development?

  • Environmental sustainability (correct)
  • GDP per capita
  • Trade flows
  • Industrialization

    • According to critical definitions, which aspect is prioritized in discussing development?

  • Market regulations
  • Trade balance
  • Human needs (correct)
  • Economic growth

    • What is one of the liberal explanations for obstacles to development?

    <p>Excessive government regulation (A)</p> Signup and view all the answers

    Which of the following is a critical approach to understanding obstacles to development?

    <p>Colonial legacy (B)</p> Signup and view all the answers

    What concept is primarily ignored by mainstream definitions of development?

    <p>Economic inequality (B)</p> Signup and view all the answers

    Which of the following is an ideological extreme related to development discussions?

    <p>Mercantilist views (B)</p> Signup and view all the answers

    What is a consequence of neo-imperialism as discussed in critical approaches?

    <p>Control of trade by powerful nations (C)</p> Signup and view all the answers

    Which of the following barriers to development is highlighted by both liberal and critical approaches?

    <p>Government intervention (B)</p> Signup and view all the answers

    Which of these elements is considered a basic human need in critical definitions of development?

    <p>Shelter (D)</p> Signup and view all the answers

    Which statement accurately reflects the critical view of Structural Adjustment Programs (SAPs)?

    <p>They focus on market liberalization and austerity measures. (A)</p> Signup and view all the answers

    What is a key component of the Washington Consensus?

    <p>Deregulation and free markets. (A)</p> Signup and view all the answers

    Which of the following accurately characterizes the relationship between agency and structure in development?

    <p>Both individual actions and the system influence outcomes. (C)</p> Signup and view all the answers

    What is the estimated financial requirement to eliminate hunger globally?

    <p>$200 billion (D)</p> Signup and view all the answers

    Which model of economic growth did the Asian Tigers exemplify?

    <p>State-led economic growth strategies. (A)</p> Signup and view all the answers

    The Monterrey Consensus emphasized which of the following?

    <p>Debt forgiveness for developing countries. (B)</p> Signup and view all the answers

    What is a common critique of capitalism mentioned in the context of development?

    <p>It concentrates wealth and power in the hands of a few. (C)</p> Signup and view all the answers

    Which obstacle to development is highlighted by both liberal and critical explanations?

    <p>Debt and market failures. (C)</p> Signup and view all the answers

    What role does the UN play in economic development models?

    <p>It mediates between conflicting economic approaches. (C)</p> Signup and view all the answers

    What is a characteristic of excessive debt for developing countries?

    <p>It places them under control by powerful entities. (B)</p> Signup and view all the answers

    Flashcards

    Agent-Structure Debate

    Examines how individual actions (agency) and broader systems (structure) influence outcomes.

    Excessive Debt

    Large debt that limits a country's choices and puts it under the control of powerful entities.

    Structural Adjustment Programs (SAPs)

    Economic policy imposed by the World Bank and IMF, emphasizing market liberalization and austerity measures.

    Critical View of SAPs

    The view that SAPs prioritize market efficiency over human needs, potentially worsening poverty and inequality.

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    Asian Tigers

    South Korea and Taiwan, examples of countries using state-led economic strategies for growth.

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    Shock Therapy

    Rapid economic reforms, a way for countries to transition to capitalist economies.

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    Monterrey Consensus

    Agreement focusing on aid from developed countries, debt forgiveness, and trade liberalization.

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    Washington Consensus

    Set of liberal economic policies promoting free markets, deregulation, and trade liberalization.

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    Clean Water Needs

    $150 billion needed globally to provide safe, clean water.

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    Eliminating Global Hunger

    $200 billion required to end global hunger.

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    Global Wealth Inequality

    The unequal distribution of wealth in the world, with a small percentage of the population controlling a substantial portion of the global wealth.

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    Development (Mainstream Definition)

    A concept often focused on economic progress (GDP, trade, manufacturing) as a measure of advancement.

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    Critical Development

    Human ability to meet basic needs without harming the environment.

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    Basic Human Needs

    Essential requirements like food, water, shelter, and healthcare considered crucial for human well-being.

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    Mercantilist View on Development

    Prioritizes national interests in economic development.

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    Liberal View on Development

    Stresses market-driven economic policies and free trade.

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    Colonial Legacy

    Historical exploitation by colonial powers that continues to negatively impact developing nations.

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    Predatory Corporations

    Companies that exploit developing countries for profit.

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    Neo-imperialism

    Powerful countries controlling the global economy at the disadvantage to weaker nations..

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    Irrational Markets

    Markets driven by biases like sexism, racism, nationalism or unexpected financial crises.

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    Study Notes

    Global Inequality and Development

    • Two billion people survive on less than $1 per day.
    • The top 1% of the global population holds 44% of the world's wealth. This highlights extreme wealth disparity.

    Defining Development

    • Development is a multifaceted concept, not solely economic.
    • Mainstream definitions often emphasize economic indicators: GDP per capita, trade flows, and industrialization.
    • These definitions neglect critical aspects: inequalities in wealth distribution, human well-being (health, education), and environmental conditions.
    • Non-market relationships, like social and community structures, are overlooked.

    Critical Approach to Development

    • A critical approach defines development as humans meeting basic needs without environmental damage.
    • Basic human needs include food, water, shelter, and healthcare.
    • The concept is complicated by differing ideological approaches: mercantilist (national interest) and liberal (market-driven).

    Obstacles to Development

    • Liberal Explanations: Population growth, lack of education, corruption, excessive government regulation, and policies neglecting market efficiency are cited as factors impeding development.
    • Critical Approaches: Issues like the colonial legacy, predatory corporations, neo-imperialism, distorted markets (influenced by biases), and the inherent inequality of Capitalism are considered major barriers.

    Agent-Structure Debate

    • Development outcomes are influenced by both individual actions (agency) and broader systemic factors (structure).

    Debt and Its Role in Development

    • Excessive debt constrains developing countries, potentially putting them under the influence of powerful entities.

    Developmental Experiences

    • The World Bank and IMF have often promoted market reforms (structural adjustment programs—SAPs) in developing countries, prioritizing market liberalization and austerity measures.
    • Critical views of SAPs argue they prioritize economic efficiency over human needs, potentially worsening poverty and inequality.

    Economic Growth Models

    • The mercantilist approach emphasizes state-led growth, exemplified by "Asian Tigers."
    • Transition from communism to capitalism took various forms: shock therapy (rapid reforms) or gradualism.
    • The UN plays a mediating role among different economic models.
    • The Washington Consensus advocates free markets, deregulation, and trade liberalization.
    • The Monterrey Consensus emphasizes aid, debt relief, and trade liberalization.

    Financial Needs for Global Development

    • Providing safe water worldwide needs about $150 billion.
    • Eliminating global hunger requires an estimated $200 billion.

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    Description

    Explore the complexities of global inequality and the multifaceted nature of development. This quiz delves into economic disparities, wealth distribution, and critical approaches to meeting human needs sustainably. Understand how various ideological perspectives shape our definitions of development.

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