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Aid Dependency
Dependency theory is the idea that resources flow from a "Periphery countries, periphery" of poor and exploited states to a "Core countries, core" of Developed country, wealthy states, enriching the latter at the expense of the former. A central contention of dependency theory is that poor states are impoverished and rich ones enriched by the way poor states are integrated into the "world system". This theory was officially developed in the late 1960s following World War II, as scholars searched for the root issue in the lack of development in Latin America. The theory arose as a reaction to modernization theory, an earlier development theory, theory of development which held that all societies progress through similar stages of development, that today's underdeveloped areas are thus in a similar situation to that of today's developed areas at some time in the past, and that, therefore, the task of helping the underdeveloped areas out of poverty is to accelerate them along this s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Periphery Countries
In world-systems theory, periphery countries are those that are less developed than the semi-periphery and core countries. These countries usually receive a disproportionately small share of global wealth. They have weak state institutions and are dependent on—and, according to some, exploited by— more developed countries. These countries are usually behind because of obstacles such as lack of technology, unstable government, and poor education and health systems. In some instances, the exploitation of periphery countries' agriculture, cheap labor, and natural resources aid core countries in remaining dominant. This is best described by dependency theory,Thomas Shannon. An Introduction to the World-System Perspective. 1996. which is one theory on how globalization can affect the world and the countries in it. It is, however, possible for periphery countries to rise out of their status and move into semi-periphery or core status. This can be done by doing things such a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Propaganda Model
The propaganda model is a conceptual model in political economy advanced by Edward S. Herman and Noam Chomsky to explain how propaganda and systemic biases function in corporate mass media. The model seeks to explain how populations are manipulated and how consent for economic, social, and political policies, both foreign and domestic, is "manufactured" in the public mind due to this propaganda. The theory posits that the way in which corporate media is structured (e.g. through advertising, concentration of media ownership or government sourcing) creates an inherent conflict of interest and therefore acts as propaganda for anti-democratic elements. First presented in their 1988 book '' Manufacturing Consent: The Political Economy of the Mass Media'', the propaganda model views corporate media as businesses interested in the sale of a product—readers and audiences—to other businesses (advertisers) rather than the pursuit of quality journalism in service of the public. Des ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Protectionism
Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations. Proponents argue that protectionist policies shield the producers, businesses, and workers of the import-competing sector in the country from foreign competitors and raise government revenue. Opponents argue that protectionist policies reduce trade, and adversely affect consumers in general (by raising the cost of imported goods) as well as the producers and workers in export sectors, both in the country implementing protectionist policies and in the countries against which the protections are implemented. Protectionism has been advocated mainly by parties that hold economic nationalist positions, while economically liberal political parties generally support free trade. There is a consensus among economists that protectionism has a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations Economic Commission For Latin America And The Caribbean
The United Nations Economic Commission for Latin America and the Caribbean (UNECLAC, ECLAC or ''CEPAL'', in Spanish: ''Comisión Económica para América Latina y el Caribe'') is a United Nations regional commission to encourage economic cooperation. The ECLAC includes 46 member states (20 in Latin America, 13 in the Caribbean and 13 from outside the region), and 14 associate members which are various non-independent territories, associated island countries and a commonwealth in the Caribbean. The ECLAC publishes statistics covering the countries of the regionCEPALSTAT page at official ECLAC site and makes cooperative agreements with nonprofit institutions. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Final Good
A final good or consumer good is a final product ready for sale that is used by the consumer to satisfy current wants or needs, unlike an intermediate good, which is used to produce other goods. A microwave oven or a bicycle is a final good. When used in measures of national income and output, the term "final goods" includes only new goods. For example, gross domestic product (GDP) excludes items counted in an earlier year to prevent double counting based on resale of items. In that context, the economic definition of goods also includes what are commonly known as '' services''. Manufactured goods refer to products that have undergone processing or assembly, distinguishing them from raw materials. Law Various legal definitions exist for consumer products, depending on jurisdiction. One such definition is found in the United States' Consumer Product Safety Act, which provides extensive explanation of consumer products. CONSUMER PRODUCT.- The term ‘‘consumer product’ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Terms Of Trade
The terms of trade (TOT) is the relative price of exports in terms of imports and is defined as the ratio of export prices to import prices. It can be interpreted as the amount of import goods an economy can purchase per unit of export goods. An improvement of a nation's terms of trade benefits that country in the sense that it can buy more imports for any given level of exports. The terms of trade may be influenced by the exchange rate because a rise in the value of a country's currency lowers the domestic prices of its imports but may not directly affect the prices of the commodities it exports. History The expression ''terms of trade'' was first coined by the US American economist Frank William Taussig in his 1927 book ''International Trade''. However, an earlier version of the concept can be traced back to the English economist Robert Torrens (economist), Robert Torrens and his book ''The Budget: On Commercial and Colonial Policy'', published in 1844, as well as to John St ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
