Global inequality refers to the systematic disparities in wealth, resources, and opportunities between different nations and social groups on a global scale. It highlights how core nations and elite minorities accumulate significant capital while others face systemic deprivation, reflecting the uneven distribution of global resources.

World-systems theory, developed by Immanuel Wallerstein, categorizes countries into three hierarchical tiers: core nations, which are dominant and industrialized; semi-peripheral nations, which act as intermediaries; and peripheral nations, which are dependent on core nations for capital and technology. This framework helps explain global economic inequalities.

Dependency theory argues that resources flow from a 'periphery' of poor and underdeveloped states to a 'core' of wealthy states, enriching the latter at the expense of the former. It suggests that the poverty of low-income countries is not a natural state but a result of their integration into the world economy as exploited entities.

During the Cold War, the 'Three Worlds' model classified nations based on political alignment. The 'Second World' referred to the Soviet Union and its communist-bloc allies. Ghana, as a non-aligned nation, was typically categorized as part of the 'Third World,' making the 'Second World' label historically and politically inaccurate for that context.

Global economic inequality primarily examines the vast differences in wealth, income, and standards of living between different nations. While internal inequality is important, the global perspective focuses on the structural disparities between the 'Global North' and 'Global South' and how national economies compare on the world stage.

Social stratification refers to the hierarchical arrangement of individuals and groups within a society based on wealth, power, and prestige. When applied to a global context, it examines how these resources are distributed unequally between countries, creating a system of global stratification that influences life chances and international relations.

During the Cold War, the 'Three Worlds' model was used to classify countries based on political and economic alignment. The 'First World' referred to the Western bloc, led by the United States, characterized by industrialized capitalist economies and democratic political systems, as opposed to the Soviet-aligned 'Second World' and the non-aligned 'Third World'.

World Systems Theory categorizes nations based on their economic and political power. Peripheral nations are those that are less developed, often characterized by low levels of industrialization, reliance on the export of raw materials, and exploitation by core nations. They occupy a subordinate position in the global economy, providing cheap labor and resources to the more powerful core nations, which prevents them from achieving significant economic autonomy.

Global economic inequality refers to the persistent and systematic disparities in wealth, income, and resources between different nations. This concept examines how the global economic structure creates advantages for some countries while disadvantaging others, leading to significant variations in quality of life, access to technology, and economic opportunities. It is a central concern in sociology for understanding how international power dynamics and historical processes shape current global stratification.

The classification of 'less developed countries' is a broad demographic and economic term used to describe nations with lower levels of industrialization, lower per capita income, and limited access to advanced infrastructure. Various regions, including parts of Central Africa, South America, and certain island nations, face significant challenges related to economic development, healthcare, and education, which contribute to their classification within global stratification models.