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47 Cards in this Set
- Front
- Back
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Commodity Chain
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Series of links connecting the many places of production and distribution and resulting in a commodity that is exchanged on the world market.
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Developing
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With response to a country, making progress in technology, production, and socioeconomic welfare.
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Gross National Product
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The total value of all goods and services produced by a country's economy in a given year. It includes all goods and services produced by corporations and individuals of a country; whether or not they are located within the country.
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Gross National Income
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Calculates the monetary worth of what is produced within a country plus income received from investments outside the country, as a more accurate way of measuring a country's wealth in the context of a global economy.
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Per Capita GNI
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The Gross National Product of a given country divided by its population.
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Formal Economy
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The legal economy that is taxed and monitored by a government and is included in a government's Gross National Product; as opposed to an informal economy
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Informal Economy
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Economic activity that is neither taxed nor monitored by a government; and is not included in that government's Gross National Product; as opposed to a formal economy.
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Modernization Model
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A model of economic development most closely associated with the work of economist Walter Rostow that maintains that all countries go through five interrelated stages of development, which culminate in an economic state of self-sustained economic growth and high levels of mass consumption.
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Context
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The geographical situation in which something occurs; the combination of what is happening at a variety of scales concurrently
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Neocolonialism
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The entrenchment of the colonial order, such as trade and investment, under a new guise.
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Structuralist Theory
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A general term for a model of economic development that treats economic disparities among countries or regions as the result of historically derived power relations within the global economic system.
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Dependency Theory
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A structuralist theory based on the idea that certain types of political and economic relations (especially colonialism) between countries and regions of the world have created arrangements that both control and limit the extent to which regions can develop.
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Dollarization
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When a poorer country ties the value of its currency to that of a wealthier country, or when it abandons its currency and adopts the wealthier country's currency as its own.
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World-Systems Theory
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Theory originated by Immanuel Wallerstein and illuminated by his three-tier structure, proposing that social change in the developing world is inextricably linked to the economic activities of the developed world.
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Three-Tier Structure
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With reference to Immanuel Wallerstein's world-system's theory, the divisions of the world into the core, the periphery, and the semi-periphery as means to help explain the interconnections between places in the global economy.
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Trafficking
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When a family sends a child or an adult to a labor recruiter in hope that the labor recruiter will send money, and the family member will earn more money to send home.
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Structural Adjustment Loans
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Loans granted by international financial institutions such as the World Bank and the International Monetary Fund to countries in the periphery and the semi periphery in exchange for certain economic and governmental reforms in that country
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Vectored Diseases
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A disease carried from one host to another by an intermediate host.
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Malaria
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Vectored Disease spread by mosquitoes that carry the malaria parasite in their saliva and which kills approximately 150000 children in the global periphery each year.
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Export Processing Zones
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Zones established by many countries in the periphery and semi-periphery where they offer favorable tax, regulatory, and trade arrangements to attract foreign trade and investment.
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Maquiladoras
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The term given to zones in northern Mexico with factories supplying manufactured goods to the U.S. market. The low-wage workers in the primarily foreign-owned factories assemble imported components and/or raw materials and then export finished goods.
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Special Economic Zones
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The specific area within a country in which tax incentives and less stringent environmental regulations are implemented to attract foreign business.
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North American Free Trade Agreement
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Agreement entered into by Canada, Mexico, and the United States in December 1992 and which took effect on January 1, 1994 to eliminate the barriers to trade in, and facilitate the cross-border movement of goods and services between the countries.
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Desertification
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The encroachment of desert conditions on moister zones along the desert margins, where plant cover and soils are threatened by desiccation-though overuse.
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Island of Development
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Place built up by a government or corporation to attract foreign investment and which has relatively high concentrations of paying jobs and infrastructure.
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Nongovernmental Organizations
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International organizations that operate outside of the formal political arena but that are nevertheless influential in spearheading international initiatives on social, economic, and environmental issues.
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Microcredit Program
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Program that provides small loans to poor people, especially women, to encourage development of small businesses.
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industrial revolution
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the term applied to the social and economic changes in agriculture, commerce and manufacturing that resulted from technological innovations and specialization in late-eighteenth-century Europe.
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location theory
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a logical attempt to explain the locational pattern of an economic activity and the manner in which its producing areas are interrelated. The von Thunen model is a leading example.
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variable costs
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costs that change directly with the amount of production (e.g. energy supply and labor costs).
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least cost theory
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Model developed by Alfred Weber according to which the location of the manufacturing establishments is determined by the minimization of three critical expenses: labor, transportation, and agglomeration.
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agglomeration
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a process involving the clustering or concentrating of people or activities. The term often refers to manufacturing plants and businesses that benefit from close proximity because they share skilled-labor pools and technological and financial amenities.
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deglomeration
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the process of industrial deconcentration in response to technological advances and/or increasing costs due to congestion and competition.
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break-of-bulk point
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A location along a transport route where goods must be transferred from one carrier to another. In a port, the cargoes of oceangoing ships are unloaded and put on trains, trucks, or perhaps smaller riverboats for inland distribution.
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Fordist
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A highly organized and specialized system for organizing industrial production and labor. Named after automobile producer Henry Ford, this type of production features assembly-line production of standardized components for mass consumption.
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just-in-time delivery
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Method of inventory management made possible by efficient transportation and communication systems, whereby companies keep on hand just what they need for near-term production, planning that what they need for longer-term production will arrive when needed.
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intermodal connections
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Places where two or more modes of transportation meet (including air, road, rail, barge, and ship).
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deindustrialization
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Process by which companies move industrial jobs to other regions with cheaper labor, leaving the region to switch to a service economy and to work through a period of high unemployment.
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offshore
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With reference to production, to outsource to a third party located outside of the country.
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Sunbelt
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The South and Southwest regions of the United States
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Technopole
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Centers or nodes of high-technology research and activity around which a high-technology corridor is sometimes established.
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distance decay
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The effects of distance on interaction, generally the greater the distance the less interaction.
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locational interdependence
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theory developed by economist Harold Hotelling that suggests competitors, in trying to maximize sales, will seek to constrain each other's territory as much as possible which will therefore lead them to locate adjacent to one another in the middle of their collective customer base
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post-Fordist
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world economic system characterized by a more flexible set of production practices in which goods are not mass-produced; instead, production has been accelerated and dispersed around the globe by multinational companies that shift production, outsourcing it around the world
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global division of labor
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phenomenon whereby corporations and others can draw from labor markets around the world, made possible by the compression of time and space through innovation in communication and transportation systems
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outsourced
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with reference to production, to turn over in part or in total to a third party
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friction of distance
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the increase in time and cost that usually comes with increasing distance
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