10.1.2 Global Classification

QuestionAnswer
the movement (flight) of capital from one nation to another, via jobs and resources
capital flight
dominant capitalist countries
core nations
the buildup of external debt, wherein countries borrow money from other nations to fund their expansion or growth goals
debt accumulation
the loss of industrial production, usually to peripheral and semi-peripheral nations where the costs are lower
deindustrialization
a term from the Cold War era that is used to describe industrialized capitalist democracies
first world
a term that describes stigmatized minority groups who have no voice or representation on the world stage
fourth world
nations on the fringes of the global economy, dominated by core nations, with very little industrialization
peripheral nations
a term from the Cold War era that describes nations with moderate economies and standards of living
second world
in-between nations, not powerful enough to dictate policy but acting as a major source of raw materials and an expanding middle class marketplace
semi-peripheral nations
a term from the Cold War era that refers to poor, unindustrialized countries
third world

The content of this course has been taken from the free Sociology textbook by Openstax