POLSCI 1AB3 Lecture Notes - Lecture 3: Debt Relief, Modernization Theory, Raymond W. Baker

• School: McMaster University
• Department: Political Science
• Course: POLSCI 1AB3
• Professor: Always

Document Summary

Reminder: paper proposal due in 2 weeks, talk to dr always if you have any concerns/need help finding a starting point. When we look at the world economy in 2020, it is characterized by historically unprecedented wealth. Despite this aggregate wealth, the wealth is not evenly distributed (there is a gap; in a class sense and in a geographical sense in terms of states) Some states seem to be doing well, while other states are doing very poorly. Developed , industrialized countries seem to be doing well whereas less developed countries (sometimes called the global south), seem to be doing poorly. Consider the trends in the following statistics . Some stats show that the gap is growing. In 1820, the per capita income between the poorest and richest countries in the world were not all that different. 3:1 gap between the richest and poorest country. In 2019, including outliers like qartar and bahrundi, the gap appears massive.