globAL INCOME INEQUALITY.pptx

INCOME INQUALI TY GLOBAL INCOME INEQUALITY WEALTH INEQUALITY  Wealth refers to the net worth of the country.  It takes into account all the assets of a nation-may they be natural, physical, and human-less the liabilities. In other words, wealth is the abundance of resources in a spe...

INCOME INQUALI TY GLOBAL INCOME INEQUALITY WEALTH INEQUALITY  Wealth refers to the net worth of the country.  It takes into account all the assets of a nation-may they be natural, physical, and human-less the liabilities. In other words, wealth is the abundance of resources in a specific country.  In order to measure global economic inequality, economist usually look at income using the GDP or Gross Domestic Product.  Income is the new earning that are constantly being added to the pile of a country's wealth. GLOBAL INCOME INEQUALITY INCOME INEQUALITY  Access to technology also contributed to worldwide income inequality.  In modernized economies, jobs are more technology-based, generally requiring new skills.  In addition, manufacturing jobs that require low skills are Loved overseas. THE THIRD WORLD AND THE GLOBAL SOUTH THE THIRD WORLD AND THE GLOBAL SOUTH  The terms date back to the Cold War, when western policymakers began talking about the world as three distinct political and economic blocs (Tomlinson, 2003)  Western capitalist countries were labeled as the "First World." The Soviet Union and its allies were termed the "Second World."  Everyone else was grouped into "Third World." THE THIRD WORLD AND THE GLOBAL SOUTH THE THIRD WORLD AND THE GLOBAL SOUTH  GROSS DOMESTIC PRODUCT (GDP).  GROSS NATIOANL INCOME (GNI). The terms "Global North" and "global South" are a way for countries in the South to make a stand about the common issues. problems, and even causes in order to have equality all throughout the world.  Nevertheless, the economic differences between the wealthy Global North and poor global South "have always possessed a racial character" (Winant, 2001, p.131). THE GLOBAL CITY THE GLOBAL CITY  Globalization has deeply altered North- South relations in agriculture.  Schlosser (2005) pointed out that as commercial agriculture replaces local provisioning, the relations of social production are also altered. Rural economies are exposed to low prices and mass migration. THEORIES OF GLOBAL STRATIFICATION