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18 Cards in this Set
- Front
- Back
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Creative destruction
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the withdrawal of investments from activities (and regions) that yield low rates of profit in order to reinvest in new activities (and new places)
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Debt trap
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syndrome of always having to borrow in order to fund development
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Deindustrialization
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a relative decline in industrial employment in core regions
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Dependency
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high relative of reliance by a country on foreign enterprises, investments, or technology
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Ecological footprint
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a measure of the human pressures on the natural environment from the consumption of renewable resources and the production of pollution indicating how much space a population needs compared to what is available
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Fordism
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principles for mass production based on assembly-line techniques, scientific management, mass consumption based on higher wages, and sophisticated advertising techniques
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Foreign direct investment
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the total of overseas business investments made by private companies
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GDP/GNI
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an estimate of the total value of all materials, foodstuffs, goods, and services produced by a country in a particular year; GNI includes the value of income from abroad
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Import substitution
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the process by which domestic producers provide goods or services that formerly were bought from foreign producers
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Inflation
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the increase of printed currency that leads to higher prices and international financial differentials
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International division of labor
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the specialization by countries in particular products for export
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Neo-Fordism
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economic principles in which the logic of mass production coupled with mass consumption is modified by the addition of more flexible production, distribution, and marketing systems
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Newly industrialized countries
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countries formerly peripheral within the world system that have acquired a significant industrial sector, usually through foreign direct investment
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Quaternary activities
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economic activities that deal with the handling and processing of knowledge and information
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Sustainable development
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a vision of development that seeks a balance among economic growth, environmental impacts, and social equity
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Terms of trade
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the ratio of prices at which exports and imports are exchanged
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Transnational corporations
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companies with investments and activities that span international boundaries and with subsidiary companies, factories, offices, or facilities in several countries
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World cities
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cities in which a disproportionate part of the world’s most important business is conducted
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