Human Geography Chapter 10 notes
HGAP Chapter 10 Notes
Developing- country is making progress in technology, production, and socio-economic well being
Gross National Income- measure of the total value of the officially recorded goods and services produced by the citizens and corporations of a country in a given year
Gross Domestic Product- encompasses only goods and services produced within a country in a given year
Gross National Income- calculates the monetary worth of what is produced within a country plus income received from investments outside the country minus the income payments to other countries around the world
GNI only includes income from the formal economy
Informal economy- illegal economy that governments do not tax and keep track of like drug dealing and Black Market trade
GNI does not tell us degree of overall participation in the country’s economy, the average citizens material standard of living, or gaps between genders or among regions
Measures only inputs and not nonmonetary value costs of production, which take a toll on the environment through resource depletion and pollution
Walt Rostow’s Development Model- Grew out of major decolonization movements in the 1960’s, also called ladder of development
Looked to see how economically powerful countries had gotten where they are
Assumes all countries follow a similar path to development or modernization, advancing through the five stages of development:
1.1) Traditional-dominated by subsistence farming, rigid social structure, and technology is slow to change
1.2) Preconditions to takeoff- new leadership leads to greater flexibility, openness, and diversification
1.3) Takeoff- country experiences something akin to the industrial revolution, sustained growth occurs along with urbanization
1.4) Drive to Maturity- technologies defuse, industrial specialization occurs, and international trade expands
1.5) High Mass Consumption- high income and wide spread production of many goods and services
Development happens in
Developing- country is making progress in technology, production, and socio-economic well being
Gross National Income- measure of the total value of the officially recorded goods and services produced by the citizens and corporations of a country in a given year
Gross Domestic Product- encompasses only goods and services produced within a country in a given year
Gross National Income- calculates the monetary worth of what is produced within a country plus income received from investments outside the country minus the income payments to other countries around the world
GNI only includes income from the formal economy
Informal economy- illegal economy that governments do not tax and keep track of like drug dealing and Black Market trade
GNI does not tell us degree of overall participation in the country’s economy, the average citizens material standard of living, or gaps between genders or among regions
Measures only inputs and not nonmonetary value costs of production, which take a toll on the environment through resource depletion and pollution
Walt Rostow’s Development Model- Grew out of major decolonization movements in the 1960’s, also called ladder of development
Looked to see how economically powerful countries had gotten where they are
Assumes all countries follow a similar path to development or modernization, advancing through the five stages of development:
1.1) Traditional-dominated by subsistence farming, rigid social structure, and technology is slow to change
1.2) Preconditions to takeoff- new leadership leads to greater flexibility, openness, and diversification
1.3) Takeoff- country experiences something akin to the industrial revolution, sustained growth occurs along with urbanization
1.4) Drive to Maturity- technologies defuse, industrial specialization occurs, and international trade expands
1.5) High Mass Consumption- high income and wide spread production of many goods and services
Development happens in