POL 1025 Lecture Notes - Lecture 15: New International Economic Order, North South Mrt Line, Epistemic Community
Document Summary
Relevance- the colonialism that they did is at the root of the problem. Basically, todays inequalities are a product of that past colonization. (caused north-south gap). Global north- worlds wealthy, industrialized countries located primarily in the northern hemisphere. Global south- third world- less developed countries located primarily in the southern hemisphere. Indigenous peoples- the native ethnic, and cultural inhabitant populations within countries, referred to as the 4th world. North south gap- divide represents a way of describing the inequalities that separate rich and poor states. Mercantilism- a government trade strategy for accumulating state wealth and power by encouraging exports and discouraging imports. Economic strategy underlying the relationship between colonies and colonizers during era of classical imperialism. (government regulation of economic life to increase state power). Import-substitution industrialization- strategy designed to encourage domestic entrepreneurs to manufacture products traditionally imported from abroad. Economic development. (people there make the products so they don"t have to import as much).
