I’m not a fan of political correctness but there’s a few terms that we read about in our everyday life that have lately gotten on my nerves. Maybe it’s because I find them misleading, and by being misleading, they end up becoming offensive, even racist. Or maybe it’s because they’re just plain stupid. Without further ado, here’s six terms that should be expunged from the human lexicon, and anyone who dares mention them again be banished forever to some desolate island off Antarctica.
According to this article by The Economist, the term “emerging markets” was coined by a World Bank economist in the early 1980s. The term was gradually picked up in business circles but since has basically replaced all other previous terms which describe the non-Western world in the mainstream media, most notably, the former preferred term “third world” which is now deemed somewhat politically incorrect (and historically incorrect since the so-called second world – the former Communist Bloc – no longer exists). Call me old school, but I find the term third world decidedly more agreeable than the aberration known as emerging markets. And that’s because by lumping billions of people into nothing more than “markets” you are basically describing entire societies as simply consumers – preferably consumers of stuff that Western companies make and will have no choice but to export given their own stagnating home markets. The irony is that these is no such term as “developed markets”, as Westerns obviously will prefer referring themselves as actual countries or economies. You know, things with living, breathing people, not just wallets and cash machines ready to buy your crap. Continue reading