Terms:

DEMOGRAPHY: study of human populations (size, characteristics of family groups,

level of political and technological development)

GLOBALIZATION: A dynmiac process that involves boundary broadening

GLOBALISM: Intential strategy to create more permeable borders

LOCALIZATION: Boundary heightening, protectionist economic/social policies

FOREIGN AID: transfer of capital, goods/services for the benifit of the recipient

TIED AID: Loans given to recipient, recipient spends loan to recieve goods from
donor

NO AID: Idea that the best way to promote economic development is throug free trade
and not
direct foreign aid

AGE COHORT: group of people who are around the same age

DEPENDANCY RATIO: indicator that shows amount of people of nonworking age to number
at
working age

FRAGMEGRATION: Theoretical outlook that attemps to examine the world in 2 diff ways

CONVERGENT ECONOMY: industrialized or industrializing nations approac a common

level of prosperity

DIVERGENT ECONOMY: nations have different levels of prosperity

INFORMAL ECONOMY: economic acitivies, enterprises and workers that are not
regulated/protected
by the state

Microcredit: Lending money at a low interest to poor people or new businesses in

developing
worlds

Grameen Bank: Microfinance instituition (MFI) in Bangladesh

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Industrial Revolution
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-Revolution started in rural towns
Why:
-exploiting child labour and long working hours was removed because of new
laws.
-So people had to find new ways of making processes easier.
-Children education was mandatory now and shortened avg work day

Why mass production and consumption happened:

 -consumers were able to experience this new way of production that showed
speed and efficiency, so consumption increased. This in turn caused
the beginning of mass production to meet the needs of consumers.

The Industrial Revolution and Britain:

-People mined coal and needed an effective way to power things.
-Discussion lead to the application into industry and commerce
-growth in places because of the exchange of ideas, new tech and harvesting
energy
-revolution had created a liberal economic climate
-british government saw its role as increasing the money/capital of the
merchant
class (used its policiy to protect and build merchant class)
-sugar cane is main money making crop
what contributed to success to revolution:
coal
government supported middle class and merchant class

Why Britain over France:

-government supported merchant class
-france steam power failed becuase they copied watts design
-french science was too centralized
-french individuals couldnt come up with ideas and find bankers

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Industrialization and Global Demographic Change
================

-the sooner the industrial revolutuon reaches people everywhere, the smaller the
worlds population

-problem is poverty. we can reach 0 growth population, if economy was shared

equitably

Population Analysis is based on:

-birth/death rates
-fertility rates
-migration patterns
-Push: poor level of living, food, land and job scarcity, natural
disasters
-Pull: promise of freedom, abundance of food and land, jobs

Population Projections:
Natural Increase = BIrths-Deaths
Tot Pop = (BIrths-Deaths) + (immigrants - emigrants)
fertility rate= (#live births) / (#of women aged 15 to 45) X 1000

From the looks of China, although younger population was reduced (due to 1 child
policy),
the older groups are expected to explode in size in the coming years.

Russias outlook for population aging: total population expected to decline,

while number of 65 or older population is slated to grow substantially

India: Country is youthful, 65% demographic will double in size, but will only be
8% of the population.
What can be done to help this situation with aging populations:
-deliberate public action can mitigate some of the consequences
-strengthening the coverage of national pension arrangements
-protection of the elderly using redistribution

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Perspectives on economic development
================

-There is a misconception about developing worlds. Nations have improved greatly

over the past 70 years, both in the americas and in asia.
-Also, the countries are more equal than what is concieved by the general
population.
-Its not like no work has been done for the past 25 years. A lot of work has been
done,
and due to nations aiding each other, the situation is a lot less bad than it was
before.

WHat stops people from making it out of poverty is a lack of market opportunities.
Because
the world of jobs is tightly controlled by the middle class, poor people's only
avenue is
through the informal system.

The informal economy helps poor people have "nothing" to "something". Sometimes
poor
people can even achieve an income greater than minimum wage.

Grameen Shakti has installed a lot of solar home systems. Shows that solar energy
applications
can be scaled up massively and rapdily to provide affordable and green energy
options for the
poor.
-Shakti developed 4 diff credit schemes to make it affordable.
-customers pay diff proportions and instalments. supported by low interest
loans
from big organizations.

Worker Cooperatives help re-establish jobs for union workers who are jobless. These
worker-community owned workplaces were beneficial and actually worked.

Social entreprenuership:
-individuals with ideas can accomplish what government/organizations cant
-use of entreprenuers to develop and implement solutions to
social/environmental
issues

Eco-Socialism:A vision of a transformed society in harmony with nature. Directed

toward
alternatives to all socially and ecologically destructive systems

4 elements of a rational solution:

-satisfying real social needs
-reducing global production by reducing length of working week and
eliminating production of useless and harmful goods
-radical increase of energy efficiency, transition to renewables
-creation of political and cultural conditions for responsibility for
production and consumption