Import substitution industrializationImport substitution industrialization (ISI) is a trade and economic policy that advocates replacing foreign imports with domestic production. It is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products. The term primarily refers to 20th-century development economics policies, but it has been advocated since the 18th century by economists such as Friedrich List and Alexander Hamilton.
World-systems theoryWorld-systems theory (also known as world-systems analysis or the world-systems perspective) is a multidisciplinary approach to world history and social change which emphasizes the world-system (and not nation states) as the primary (but not exclusive) unit of social analysis. "World-system" refers to the inter-regional and transnational division of labor, which divides the world into core countries, semi-periphery countries, and the periphery countries.
SociologySociology is a social science that focuses on society, human social behavior, patterns of social relationships, social interaction, and aspects of culture associated with everyday life. In simple words sociology is the scientific study of society. It uses various methods of empirical investigation and critical analysis to develop a body of knowledge about social order and social change. While some sociologists conduct research that may be applied directly to social policy and welfare, others focus primarily on refining the theoretical understanding of social processes and phenomenological method.
International developmentInternational development or global development is a broad concept denoting the idea that societies and countries have differing levels of economic or human development on an international scale. It is the basis for international classifications such as developed country, developing country and least developed country, and for a field of practice and research that in various ways engages with international development processes. There are, however, many schools of thought and conventions regarding which are the exact features constituting the "development" of a country.
Modernization theoryModernization theory is used to explain the process of modernization within societies. The "classical" theories of modernization of the 1950s and 1960s drew on sociological analyses of Karl Marx, Emile Durkheim and a partial reading of Max Weber, and were strongly influenced by the writings of Harvard sociologist Talcott Parsons. Modernization theory was a dominant paradigm in the social sciences in the 1950s and 1960s, then went into a deep eclipse.
Marxian economicsMarxian economics, or the Marxian school of economics, is a heterodox school of political economic thought. Its foundations can be traced back to Karl Marx's critique of political economy. However, unlike critics of political economy, Marxian economists tend to accept the concept of the economy prima facie. Marxian economics comprises several different theories and includes multiple schools of thought, which are sometimes opposed to each other; in many cases Marxian analysis is used to complement, or to supplement, other economic approaches.
Development economicsDevelopment economics is a branch of economics which deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether through public or private channels.
NeocolonialismNeocolonialism is the continuation or reimposition of imperialist rule by a state (usually, a former colonial power) over another nominally independent state (usually, a former colony). Neocolonialism takes the form of economic imperialism, globalization, cultural imperialism and conditional aid to influence or control a developing country instead of the previous colonial methods of direct military control or indirect political control (hegemony).
Core countriesIn world systems theory, the core countries are the industrialized capitalist or imperialist countries, which depend on appropriation from peripheral countries and semi-peripheral countries. Core countries control and benefit from the global market. They are usually recognized as wealthy states with a wide variety of resources and are in a favorable location compared to other states. They have strong state institutions, a powerful military and powerful global political alliances. Core countries do not always stay core permanently.
Periphery countriesIn world systems theory, the periphery countries (sometimes referred to as just the periphery) are those that are less developed than the semi-periphery and core countries. These countries usually receive a disproportionately small share of global wealth. They have weak state institutions and are dependent on – according to some, exploited by – more developed countries. These countries are usually behind because of obstacles such as lack of technology, unstable government, and poor education and health systems.
Anti-imperialismAnti-imperialism in political science and international relations is a term used in a variety of contexts, usually by nationalist movements who want to secede from a larger polity (usually in the form of an empire, but also in a multi-ethnic sovereign state) or as a specific theory opposed to capitalism in Leninist discourse, derived from Vladimir Lenin's work Imperialism, the Highest Stage of Capitalism. Less common usage refers to opponents of an interventionist foreign policy.
World economyThe world economy or global economy is the economy of all humans of the world, referring to the global economic system, which includes all economic activities which are conducted both within and between nations, including production, consumption, economic management, work in general, exchange of financial values and trade of goods and services. In some contexts, the two terms are distinct "international" or "global economy" being measured separately and distinguished from national economies, while the "world economy" is simply an aggregate of the separate countries' measurements.
ColonizationColonization (British English: colonisation) is a process of establishing foreign control over target territories or peoples for the purpose of cultivation, often by establishing colonies and possibly by settling them. Colonization is sometimes used synonymously with settling, as with colonisation in biology, but while colonization historically involved settling, this particular form is called settler colonialism.
Decolonisation of AfricaThe decolonisation of Africa is a process that largely took place from mid-1950s to 1975 during the Cold War, with radical government changes on the continent as colonial governments made the transition to independent states. The process was often marred with violence, political turmoil, widespread unrest, and organised revolts in both northern and sub-Saharan countries including the Mau Mau rebellion in British Kenya, the Algerian War in French Algeria, the Congo Crisis in the Belgian Congo, the Angolan War of Independence in Portuguese Angola, the Zanzibar Revolution in the Sultanate of Zanzibar, and the Nigerian Civil War in the secessionist state of Biafra.
Unequal exchangeUnequal exchange is used primarily in Marxist economics, but also in ecological economics (more specifically also as ecologically unequal exchange), to denote forms of exploitation hidden in or underwriting trade. Unequal exchange is usually calculated by assuming that any trade between a country with a high price level and a country with a low price level, is exploitation.
