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Development - start Dependency theory(1960’s – 1970’s...

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Development Gross Domestic Product (GDP): total value of goods and services produced within a country Gross National Income (GNI): GDP + foreign transactions HDI (Human Development Index): Economics + Health + Education Purchasing power parity (PPP): what the national income is worth in terms of equivalent purchasing power – GNI – PPP GINI: Measure of inequality. Higher the GINI coefficient, the greater the inequality GEM: Gender Empowerment Measure Theories of Development Modernization theory (1940’s-1950’s) – you have to go through what the U.S. has gone through to get to where they are today, so they should be helped out and give them a kick
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Unformatted text preview: start Dependency theory (1960’s – 1970’s) – Rich countries extract resources from poor country (colonized periphery). Periphery buys all manufactured goods from the core. Periphery can’t “catch up” because they are dependent on the colonizer …. Deliberately and chronically underdeveloped Neoliberalism (1980’s – 1990’s) – “itls the economy, stupid” Government is the problem, FREE trade is the answer, Every country has a comparative advantage, everyone does better if there are no obstacles to trade, the government should get out of the way Sustainable development (21 st century)...
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