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Critics of globalization which favor changing the current system of globalization to make it more humane, more-pro-environment, and more grassroots-driven

Alter-globalization camp

A system founded in 1944 which replaced the gold standard and aided capitalist countries toward achieving closer economic integration

Bretton Woods

An economic system or framework characterized by private or corporate ownership of capital goods, production, and distribution and which is primarily premised on "profit motive" and tied up with globalization of economy

Capitalism

According to Wallerstein what group of countries own most of the world's capital and technology and have great control over world trade and economic agreements

Core

Term used by Lichauco that refers to the developing countries inability to free themselves from debts acquired from First World-dominated financial institutions and private banks, due to burdensome nature of most loans

Debt trap

The loosening or lifting of government regulations, usually to favor private corporations' flexibility of operations and profitability

Deregulation

The increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, flow of international capital and wide and rapid spread of technologies

Economic Globalization

According to Appadurai, this refers to the dimension of integration in globalization which involves the global movement of people

Ethnoscape

An attribute of globalization which refers to creation of new social networks and likewise the multiplication of existing connections that cut across boundaries

Expansion

Currencies that are not backed by precious metals and whose value is determined by their cost relative to other currencies

Fiat

The exchange of goods or products between nations without tariff or tax or much restriction

Free trade

Established in 1947 whose main purpose was to reduce tariffs and other hindrance to free trade

General Agreement on Tariffs and Trade

Corporations that operate in at least a country other than the country where it originated

Global corporations

Refers to the social condition characterized by a tight global economic, political and cultural interconnection and flows that make most boarders and boundaries irrelevant

Globality

A precious metal that was believed to guarantee a non-inflationary, stable economic environment, and a means of accelerating international trade,

Gold

Influence or control over another country, a group of people, etc. brought about by globalization which its critics oppose

Hegemony

The blending of diverse elements into a mixture to make it uniform in structure and composition all throughout

Homogenization

An attribute of globalization that refers to the stretching and acceleration of social networks and global connectedness

Intensification

Important actors that facilitate globalization by bringing member states together to cooperate on a particular theme or issues that have global impacts and implications such as human rights, trade, development, poverty, gender or migration

International Government Organizations

An international financial institution which is considered as the lender of the last resort

International Monetary Fund

British economist who believed that economic crises occur not when a country does not have enough money, but when money is not being spent

John Maynard Keynes

Process or policy of removal or reduction of restrictions or barriers on the free trade of nations like abolition of tax on imported goods

Liberalization

Defines globalization as the process of expansion and intensification of social relations and consciousness across world-time and across world-space

Manfred Steger

This happens when prices among different locations or related goods follow similar patterns over a long period of time

Market integration

The transfer or movement of people from one country to another which is linked with globalization

Migration

A form of indirect colonialism in which one country is dominated by economically, culturally, or politically by a more powerful country

Neo-colonialism

Supporters of globalization that favor market-oriented reform policies such as "eliminating price controls, deregulating capital markets, lowering trade barriers" and reducing state influence in the economy, especially through privatization and austerity

Neo-liberalists

Process or policy of subjecting an industry or service to private control and ownership

Privatization

A schedule of duties or taxes imposed by a government on imported or in some countries exported goods

Tariff

Former Harvard Business School Professor who o popularized the term globalization in his 1983 article entitled "The Globalization of Markets"

Theodore levitts

Government policies which place restrictions on international trade like tariffs quotas or embargo

Trade barriers

From the establishment of the Bretton Woods system, what currency became the world's leading, if not unchallenged, international currency?

US dollar

An international government organization that formulates the rules of trade between nations

World Trade Organization

A theory proposed by Immanuel Wallerstein in which he divided the world economic system into a hierarchy of three types of countries depending on the way they are integrated into the capitalist world system

World systems

A factor important in the globalization process that facilitates human interactions in communication, transportation etc. that no longer confines them by territorial means

human interactions/ culture globalization