| A | B |
|---|
| global perspective | a view of the larger world and our society's place in it |
| most developed countries | industrial nations that are relatively rich |
| less developed countries | nations characteized by limited industrialization and moderate to low personal income |
| least developed countries | nations with little industrialization in which severe poverty is the rule |
| world system | a metwork of commercial and other relationships among all the members of the world community |
| deindustrialization | the loss of numerous factory jobs as a result of relocating a massive number of manufacturing plants to peripheral countries |
| reindustrialization | the proliferation of unstable, low skilled, low paying jobs |
| modernization theory | a model of economic development that explains global enequality in terms of technological and cultural differences among societies |
| dependency theory | a model of economic development that explain global inequality in terms of the historical exploitation of poor societies by rich societies |
| colonialism | the process by which some nations enrich themselves through political and economic control of other nations |
| neocolonialism | a new form of economic exploitaion that involves not direct political control but the operation of multinational corporations |
| multinational corporation | a large business that operates in many countries |
