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