States in the global South, the poorest regions of the world--also called third world countries, less-developed countries, and undeveloped countries
Millennium Development Goals
UN targets for basic needs measures such as reducing poverty and hunger, adopted in 2000 with a target date of 2013
basic human needs
the fundamental needs of people for adequate food, shelter, health care, sanitation, and education. Meeting such needs may be thought of as both moral imperative and a form of investment in "human capital" essential for economic growth
A lack of needed foods including protein and vitamins; about 10 million children die each year from malnutrition-related causes
Rural communities growing food mainly for their own consumption rather than for sale in local or world markets
Agricultural goods produced as commodities for export to world markets
A shift of population from the countryside to the cities that typically accompanies economic development and is augmented by displacement of peasants from subsistence farming
Policies that aim to break up large land holdings and redistribute land to poor peasants for use in subsistence farming
Movement between states, usually emigration from the old state and immigration to the new state
People fleeing their countries to find refuge from war, natural disaster, or political persecution. International law distinguishes them from immigrants
A view of the world in terms of regional class divisions, with the industrial countries as the core, poorest countries as the periphery, and other areas (for example, some of the newly industrializing countries) as the semi periphery
The creation of standing wealth (capital) such as buildings, roads, factories, and so forth; such accumulation depends on investment and the creation of an economic surplus
Made by investing money in productive capital rather than using it for consumption
An economic system based on private ownership of capital and the means of production (standing wealth and other forms of property).
A term encompassing many political movements, parties, economic theories, ideologies, historical and present-day. With its idea that workers should have political power (or a larger share of power), socialism favors the redistribution of wealth toward the workers who produce it. In economic policy, socialists have favored different combinations of planning and reliance on market forces, as well as various patterns of ownership
A branch of socialism that emphasizes exploitation and class struggle and includes both communism and other approaches
A view of the world in terms of regional class divisions, with industrialized countries as the core, poorest third world countries as the periphery, and other areas (for example, some of the newly industrialized countries) as the semiperiphery.
The difficulties face by resource- rice developing countries, including dependence on exporting or a few commodities whose price fluctuates, as well as potentials for corruption and inequality.
the continuation, in a former colony, of colonial exploitation without formal political control
A marxist-oriented theory that explains the lack of capital accumulation in the third world as a result of the interplay between domestic class relations and the forces of foreign capital
An historically important form of dependency in which foreign capital is invested in a third world country to extract a particular raw material in a particular place - usually a mine, oil well, or plantation
the combined processes of capital accumulation, rising per capita incomes (with consequent falling birthrates), the increasing of skills in the population, the adoption of new technological styles, and other related social economic changes
Newly Industrialized Countries (NICs)
Third world states that have achieved self-sustaining capital accumulation, with impressive economic growth. The most successful are the "four tigers" or "four dragons" of East Asia: South Korea, Taiwan, Hong Kong, and Singpore
"four tigers"/"Four dragons"
The most successful newly industrialized areas of East Asia: South Korea, Taiwan, Hong Kong, and Singapore
A strategy of developing local industries, often conducted behind protectionalist barriers, to produce items that a country had been importing.
An economic development strategy that seeks to divide industries capable of competing in specific niches of the world economy
The use of very small loans to small groups of individuals, often women, to stimulate economic development
Developing states's acquisition of technology (knowledge, skills, methods, designs, specialized equipment, etc.) from foreign sources, usually in conjunction with direct foreign investment or similar business operations.
Poor countries loss of skilled workers to rich countries
Failure to make scheduled debt payments
renegotiation A reworking of the terms on which a loan will be repaid; frequently negotiated by poor debtor governments
An agreement to loan IMF funds on the condition that certain government policies are adopted. Dozens of developing countries have entered into such agreements with the IMF in the past two decades
Money or other aid made available to states in the global South to help them speed up economic development or meet humanitarian needs. Most foreign aide is provided by governments and is called official development assistance (ODA)
Development Assistance Commitee (DAC)
A commitee whose members - consisting of states from Western Europe, North America and Japan/Pacific - Provide 95 percent of official development assistance to countries of the global South
Government assistance directly to governments as state-to-state aid.
Government foreign aide from several states that goes through a third party, such as the UN or another agency
An organization started by President John Kennedy in 1961 that provides US volunteers for technical development assistance in poor countries.
UN Development Program (UNDP)
A program that coordinates the flow of mulitlateral development assistance and manages 5,000 projects at once around the world (focusing especially on technical development assistance)
Provision of short term relief in the form of food, water, shelter, clothing, and other essentials to people facing natural disasters
A private charitable group that works with local communities to determine the needs of their own people and to carry out development projects