INGS 200 B exam 1

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)

Religious globalism

-Against both market globalism and justice globalism -Attempt to mobilize a religious community imagined in global terms in defense of religious values and beliefs that are thought to be under attack by the forces of secularism and consumerism -A key point about the religious globalist visions is the desire for their version of a global religious community to be all-encompassing, to be given primacy and superiority over state-based and secular political structures

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

Nationalism

A strong feeling of pride in and devotion to one's country or nationality

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

Bretton Woods

Bretton woods regime 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)

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 (GATT, later called the World Trade Organization) address global trade barriers and regulate rules of trade

Global value chain

Global value chains refer 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

Globalization based on egalitarian ideals of global solidarity and distributive justice

World Bank

International Bank for Reconstruction and Development (IBRD, later called the World Bank) helped redistribute billions of dollars of aid after WWII

Responsibility to Protect (R2P)

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

Antiglobalist populism

The anti-globalization movement is a social movement critical of economic globalization.

Cultural imperialism

The dominance of one culture over another.

Cultural diffusion

The expansion and adoption of a cultural element, from its place of origin to a wider area.

Hard Power

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

Globalization skeptics

They argue that globalization is actually accentuating people's sense of nationality.

Pessimistic globalizers

They suggest that rather than a cultural rainbow reflecting the diversity of the world's existing cultures. globalization is causing the rise of an increasingly homogenized popular culture underwritten by the Western culture industry.

soft power

a persuasive approach to international relations, typically involving the use of economic or cultural influence.

Nation

a politically organized body of people under a single government

Fairtrade

an alternative method of international trade which promotes environmentalism, fair wages, alleviation of global poverty and a fair price for growers

Optimistic globalizers

argue that cultural globalization spread Anglo-American values to different parts of the world leading to sameness.

Hyperglobalists

argue that we live in an increasingly global world.

Organization-extended globalization

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

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

Object-extended globalization

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

Market globalism

seeks to endow globalization with free-market norms and neoliberal meanings

Global civil society

set of institutions, organizations, and behaviors situated between the state, business world, and family, including voluntary and nonprofit organizations, philanthropic institutions, and social and political movements

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 the federal government

Glocalization

the practice of conducting business according to both local and global considerations.

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

Humanitarian Intervention

the use of peacekeeping troops by foreign states or international organizations to protect endangered people from gross violations of their human rights and from mass murder

Secondhand industry

used goods market. The reselling of clothing, electronics, etc.

Cultural globalization

worldwide spread of similar norms, values, and practices

International Monetary Fund

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