top-rated free essay

Economic Development in a Global Perspective

By tjenkins Jan 26, 2011 338 Words
Economic Development in a Global Perspective
Todd Jenkins
Sociology 100
Professor Angela Agboli-Esedebe
1/15/2010

Economic development in a global perspective breaks the world into three different income brackets, which are high-income countries, middle-income countries and low-income countries.

There are roughly 40 nations that make up the high-income countries, which include the United States, Canada and Western Europe. These 40 nations produce most of the world’s goods and services and account for most of the world’s wealth. The people that live in these nations live well, but interestingly enough it’s not because they are any smarter than those that live in lower income nations, but simply based on the good fortune of where they were born.

There are roughly 90 nations that make up the middle-income countries of the world, which include nations in Eastern Europe, Africa and Latin America. These nations have moderately productive economies, where their citizens’ incomes are about the global average. Most of these countries have marked social inequalities, meaning there are some extremely rich members of society, but also many poor members.

There are roughly 60 nations that make up the low-income countries of the world, where half of the world’s population lives. These nations are filled with poor citizens’ and their economies are less productive than those of the other nations of the world. Citizens in these nations struggle to find housing, food and safe drinking water, and have very little chance of improving their lives.

The United States is definitely considered one of the high-income nations of the world, where we are very fortunate to live. Housing, food and medical care are abundant, even for the poor, and all children are provided free education. As I said earlier, we are fortunate to be born where we are born, and sometimes I think we forget how lucky we really are.

References
Macionis, J. J. (2008).  SOC100: Sociology: 2009 custom edition (12th ed.). Upper Saddle         River, NJ: Prentice Hall.

Cite This Document

Related Documents

  • Introducing Economic Development: a Global Perspective

    ...Saptasari NIM: 126030112111011 PART ONE: PRINCIPLES AND CONCEPTS Chapter I: Introducing Economic Development: A Global Perspective 1. How to Other Half Live There are two type of family in the world: the wealth family and the poor one. It is said that over 40% of the world’s population lives on less than $2 per day, as a part condi...

    Read More
  • Global Perspectives employment

    ...Global Why is employment important? Employment is important if you want to have a normal life; three decent meals a day, a place to stay and other things such as clothes, shoes etc. This is most especially if a person has to provide for his or her family. In order to provide good quality education to your children, you need to be employed f...

    Read More
  • Term paper of economic development

    ...increasingly undermined” – Guy Bentley From World War II until the 1970’s many developing countries have attempted to accelerate their development by limiting imports of manufactured goods, in an attempt to foster a manufacturing sector to serve the domestic market. This paper will follow the structure of Henry J Brutons’- A reconsid...

    Read More
  • economic development

    ...Johann Philip Sanchez 11107052 CONADEV K34 Economic development has been influenced by four different major theories that talk about how change is best accomplished. The theories are the Linear Stages of Growth theory, the Structural Change theory, the Neoclassical Counter Revolution theory and the New Growth theory. The linear stages ...

    Read More
  • China’s Economic Growth and Development

    ...China’s Economic Growth and Development China is presently the world’s largest economy in relation to its population of 1.3 billion. The country is currently a socialist economy ruled by a Communist Government, with significant structural changes impacting its economy as a result of the high rate of growth over the past decades. Its econ...

    Read More
  • ECONOMICS

    ... ECONOMICS the branch of knowledge concerned with the production, consumption, and transfer of wealth. the social science that studies economic activity to gain an understanding of the processes that govern the production, distribution and consumption of goods and services in an exchange economy. SCARCITY: THE NEED TO CHOOSE Scarci...

    Read More
  • Indian Economic Development: Issues and Perspectives

    ...BECE 002 Bachelor’s Degree Programme (BDP) ASSIGNMENT For July 2012 and January 2013 Students Course Code: BECE 002 Title of Course: Indian Economic Development: Issues and Perspectives School of Social Sciences Indira Gandhi National Open University Maidan Garhi, New Delhi-110068 BECE-002 INDIAN ECONOMIC DEVELOPMENT: ISS...

    Read More
  • Global Perspective

    ...Kyleen Reed Freshman English 101 Blah blah blah Professor Studying Abroad and the Importance of a Global Perspective Studying Abroad has become increasingly popular amongst college students - and for good reason. Studying in a different country can not only help students achieve more in their adult lives, but ultimately change their l...

    Read More

Discover the Best Free Essays on StudyMode

Conquer writer's block once and for all.

High Quality Essays

Our library contains thousands of carefully selected free research papers and essays.

Popular Topics

No matter the topic you're researching, chances are we have it covered.