Aim: to what extent does (economic) development vary amongst countries? APHG Development.
Post on 14-Dec-2015
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Economies of the World• Primary: • Secondary:• Tertiary:• Quaternary:• Quinary:
Quaternary Sector
The quaternary sector of the economy consists of intellectual activities. Activities associated with this
sector include government, culture, libraries, scientific research, education, and information technology.
Quinary Sector
Some consider there to be a branch of the quaternary sector called the quinary sector, which includes the
highest levels of decision making in a society or economy. This sector would include the top executives or
officials in such fields as government, science, universities, nonprofit, healthcare, culture, and the
media
But… Australian definition and ….
Economic Development Regions• MDCs (More Developed Countries)• LDCs (Less Developed Countries)
• First World Countries• Second World Countries• Third World Countries• Non-Aligned Countries• BRIC(S) Countries• (Asian) Tigers
“East” vs. “West”
“Western”
VOCABULARY
Cold War
What Does Developed Mean?
• GDP, GNP, and GNI?• Per Capita Income?• Industry?• Life Expectancy?• Education?• Happiness?
What factors are
considered?
GDP, GNP, and GNI• GDP = value of all goods and services
produced within a country, within an economy over course of one year.
• GNP = GDP + NR (income inflow from foreign assets) – NP (net income outflow to foreign assets)
• GNI = GNP
HDI • HDI (Human Development
Index)• Economic (income)• Social (education)• Demographic (life expectancy)
UN attempt to answer
the question.
Economic• GDP• Per Capita Income• Primary (farming, fishing, mining)• Secondary (manufacturing)• Tertiary (services)
How do you determine
income and wealth?
Social• Education• Literacy• Human Rights• Women’s Rights• Freedom of Speech• Etc. etc.• Happiness Index*
Not all are included
in the HDI
Cadillac poolside commercial
Exchange Rates as of 4/4/14Value of foreign currencies in US dollars
L 1.65862Can$ 0.91032E 1.37131Au$ 0.92989Y 0.009639
Changes on a daily basis and is NOT a reflection of HDI. More accurately
correlates to GDP and perceived flexibility and stability of the
currency.
World Systems TheoryThe modern world system is distinguished from (older) empires by its reliance on economic control of the world order by a dominating capitalist center in systemic economic and political relation to peripheral and semi peripheral world areas.
Wallerstein rejects the notion of a "Third World", claiming there is only one world connected by a complex network of economic exchange relationships — i.e., a "world-economy" or "world-system" in which the "dichotomy of capital and labor" and the endless "accumulation of capital" by competing agents (historically including but not limited to nation-states) account for frictions.
BTW: Wallerstein is an American sociologist born in NYC in 1930.
(Not taking love of country and immediate family into
account etc.)Where would you choose
to live if you were to emigrate from the USA?
Why?
Aim: to what extent is economic development evenly spread amongst the geographic area of
various individual countries?
Country Development• Identify and associate at least
one country, territory, “place,” and or region with each of Rostow’s stages of economic development.
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