The economics of FOOD

1. The economics of FOOD Disparity; Cycle of poverty; 1st and 3rd world gap

2. Disparity • Refers to differences in the distribution of economic assets (wealth) and income within or between populations or individuals. • The term typically refers to inequality among individuals and groups within a society, but can also refer to inequality among countries. • The issue of economic inequality involves equity, equality of outcome, equality of opportunity, and life expectancy.

3. POVERTY CYCLE

7. Global classification • North:refers to the 47 countries with high human development that have a HumanDevelopment Index above .8 • North America, Western Europe, Japan. • South: refers to the countries of the rest of the world, most of which are located in the Southern Hemisphere.  • It includes both countries with medium human development (88 countries with an HDI less than .8 and greater than .5) and low human development (32 countries with an HDI of less than .5) • Latin America, South and Southern Asia, Middle East, Africa, Pacific Region. • The Global South faces many issues but the most important is economic development.

8. Global classification • First World : • Highly Industrialized Countries • located in Western Europe, North America, and Japan.  • used to be called the Free World or the West.  • have primarily free-market economies and democratic forms of government • Low birth rate / longer life expectancy • Higher degree of obesity (1st world diseases)

9. Global classification • Second World:  • Centrally planned communist countries. • Since the former Soviet Union and its Eastern European Iron Curtain States have collapsed and adopted a semi-capitalistic market economy, this term has become antiquated.  • However, 
China, Cuba, Vietnam, and North Korea remain as communist states with centrally planned or, at least in the case of China, government-dominated economies.

10. Global classification • Third World:  • refers to all the underdeveloped countries of Asia, Africa, and Latin America.  • In recent times, "under-developed” has been perceived as a pejorative term and the term  "developing countries" was substituted.  • Since, in fact, all regions of the world are developing in some way or another,  including  the West or First World; • the term Global South is often applied to countries with low per capita income (<$9,000 per year)

11. THE GLOBAL SOUTH FACES MANY ISSUES BUT THE MOST IMPORTANT IS ECONOMIC DEVELOPMENT. • Economic Development -- What does it mean?  • There are many different definitions.  But the core issue is how to raise the living standards of the Global South to the same level as exists in the Global North.  • The disparities in living standards between the rich and poor countries cannot be justified.  • For the Global South countries, economic development means the process whereby living standards will gradually be brought up to the levels enjoyed in the Global North.