INGS 200 B final exam

Anarchic capitalism

- 18th and 19th centuries - Competition among small-scale manufacturers - Deregulation of old apprentice systems = entrepreneurs relatively unchecked by state or labor unions - Strong state but minimal / no welfare - Supported by Liberal ideas about freedom of individual and the free operation of the market

Remarketized capitalism

- During the 1970s managed capitalism collapsed - Collectivist concerns with welfare, equality, and employment gave way to individualist values of freedom/choice - 1980s rise of neoliberalism - Revival of market forces by "rolling back the state"

Managed / controlled capitalism

- Late 19th century through 1970s - Industry becomes more organized - State management and control increase - International conflicts motivate governments to protect national economies = reduces international free trade - Labor movements strengthen - Development of welfare ("full employment," healthcare, education)

nation-state

A state whose territory corresponds to that occupied by a particular ethnicity that has been transformed into a nationality

Neoliberalism

A strategy for economic development that calls for free markets, balanced budgets, privatization, free trade, and minimal government intervention in the economy. Privatization of public enterprises Deregulation of the economy Liberalization of trade and industry Massive tax cuts 'Monetarist' measures to keep inflation in check, even at the risk of increasing unemployment Strict control on organized labor The reduction of public expenditures, particularly social spending The down-sizing of government The expansion of international markets The removal of controls on global financial flows

hyperglobalists

Also known as The World Economy Theory. They believe that the global marketplace is become so advanced and developed that the nation-state is becoming obsolete.

Fair Trade

Alternative to international trade that emphasizes small businesses and worker owned and democratically run cooperatives and requires employers to pay workers fair wages, permit union organizing, and comply with minimum environmental and safety standards.

state

An area organized into a political unit and ruled by an established government with control over its internal and foreign affairs.

Capitalism

An economic system based on private ownership of capital -Private Ownership -Profit Motive -Market Economy

Optimistic Globalizers

Consider pattern of sameness to be good. Spread of western values, technology, free market. (Steger 5)

Structural adjustment programs

Economic policies that encourage international trade Encourage trade liberalization Encourage exports Devalue Currency Encourage foreign direct investment (FDI) Privatization of nationalized industries Reducing government expenditure in order to ensure that government budgets are balanced Austerity measures (reducing social spendings like health and education)

Multinational corporations

For profit enterprises that conduct business in more than one country

World Trade Organization

General Agreement on Tariffs and Trade address global trade barriers and regulate rules of trade

World Bank

International Bank for Reconstruction and Development helped redistribute billions of dollars of aid after WWII

antiglobalist populism

Political movements based off of the fears of globalization (ex: dwindling cultural identity) and anger for neoliberal policy hitting ordinary people the hardest. Leaders capitalize this in hopes of gaining power. (Steger 7)

Responsibility to Protect

Principle adopted by world leaders in 2005 holding governments responsible for protecting civilians from genocide and crimes against humanity perpetrated within a sovereign state

religious globalism

Religious groups who oppose market globalism and justice globalism. seeks to mobilize a religious community. feels attacked by secularism and consumerism and seeks religious superiority over government. (Steger 7)

Bretton Woods

Reverse protectionist policies Expand trade Establish binding rules for international economic activity Create a more stable monetary exchange system (pegged to the fixed gold value of the US dollar)

cultural globalization

The interconnected nature of culture through meetings and the influence of cultures on one another

Soft Power

The reliance on diplomacy and negotiation to solve international problems.

Hard Power

The reliance on economic and military strength to solve international problems.

Humanitarian intervention

The use of military force by external actors to end a threat to people within a sovereign state.

Pessimistic Globalizers

Witnessing a the rise of an increasingly homogenized popular culture, specifically Western culture. (Steger 5)

nation

a group of people with a common culture living in a territory and having a strong sense of unity as well as a government.

Organization-extended globalization

corresponds to the global extension of social and political institutions such as empires, states, corporations, etc

Globalization Skeptics

insist on the continued relevance of conventional political units, operating either in the form of modern nation-states or global cities. They argue that globalization is actually accentuating people's sense of nationality.

Embodied globalization

involves the movement of people across our planet (11).

Globalization

is a spatial concept signifying a matrix of social processes transforming our present social condition of conventional rationality into one of globality 1. globalization involves the creation of new and the multiplication of existing social networks and activities that increasingly overcome traditional political, economic, cultural, and geographical boundaries. 2. The second quality of globalization is reflected in the expansion and stretching of social relations, activities, and interdependencies. 3. Globalization involves the intensification and acceleration of social exchanges and activities.

Disembodied globalization

is characterized by the extension of social relations through the movement of immaterial things and processes

Global Civil Society

network of social, economic, and political organizations, constituted on a transnational basis, that are separate from and often challenge the power and authority of state institutions and policies

Object-extended globalization

refers to the global movement of objects (esp. traded commodities)

Global value chain

refers to the organization of global production, primary industries that were created during a wave of global outsourcing during the 1970s and 80s as companies from the U.S. and Europe decided to go abroad to optimize their production

Justice globalism

refers to the political ideas and values associated with the social alliances and political actors known as the "___ ____ movement" (Steger 7)

Market Globalism

seeks to endow globalization with free-market norms and neoliberal meanings. (Steger 7)

Globality

signifies a social condition characterized by tight global economic, political, cultural, and environmental interconnections and flows that challenges most of the currently existing borders

Human rights

the basic rights to which all people are entitled as human beings

state sovereignty

the concept that states have the right to govern themselves independent of a higher governing power

Political Globalization

the process by which political decisions and actions are becoming increasingly international

time-space compression

the rapid innovation of communication and transportation technologies associated with globalization that transforms the way people think about space and time (Harvey)

International Monetary Fund

• mostly focused on European reconstruction initially • maintained stable exchange rate mechanism and balance of payments region • lender of last resort