PLSC Final Exam

Collective goods

(See also "Public Goods"). A good such as clean air or public infrastructure which exists for everyone. Its consumption cannot be easily denied to anyone, thus leading to the problem of how to pay for public goods. Collective goods do not belong to any individual entity.

Black September Organization

A Palestinian terrorist group formed after the Jordanian government crushed a Palestinian uprising there. Staged the Munich Olympic Massacre, killing eleven Israeli athletes in 1972.

World Bank

A development bank for poorer countries, originally set up to rebuild Europe after World War II as part of the Bretton Woods institutions. Sponsors infrastructural and other projects. Also known as the International Bank for Reconstruction and Development.

Ozone

A gas made up of three oxygen atoms (O3) which exists naturally in the upper atmosphere and which blocks ultraviolet radiation, and which is broken apart into oxygen (O2 and free oxygen atoms (O) by Chlorofluorocarbons (CFCs), man-made substances used in a variety of consumer and industrial applications

Public Goods

A good such as clean air or public infrastructure which exists for everyone. Its consumption cannot be easily denied to anyone, thus leading to the problem of how to pay for public goods. Similar to Collective Goods.

Epistemic Community

A group of experts who hold a scientifically-based consensus on an issue and who urge policy recommendations based upon that consensus.

Laissez-faire

A liberal concept that governments should leave markets a "free hand" and not interfere. A key concept of classical liberalism.

Sovereign Debt

A loan made to a government of a sovereign country and backed by that country's official exchange reserves and good faith. These can be explicit loans or bond offerings, where the government offers interest-bearing bonds for sale, such as US T-Bills.

Tragedy of the Commons

A phrase in social sciences that alludes to the over-exploitation of a resource which all members of a community have access to, because individuals' self-interest is to maximize their exploitation, but which leads to the collapse of the resource for all in the long term. Often used to describe issues such as the problem of over-fishing on the high seas.

Protectionism

A political and economic strategy that limits foreign imports into a country by tariffs, quotas or other trade barriers. This may be motivated by a desire to protect inefficient industries and their workers, strategic industries, or because of the political power of the affected industry. The cost for the protection is then passed along to the entire nation's consumers.

Freedom fighter

A politically-loaded term for a guerrilla or terrorist which strongly implies approval of their actions or goals. Cf. "Terrorist".

Security Council

A principal body of the United Nations with fifteen members, ten of whom rotate their terms on the Council, and five of whom are Permanent Members and have a veto power over Security Council and its collective security activities. The five are the USA, Russian Federation, China, France and the United Kingdom.

Bretton Woods Regime

A set of institutions and norms set up at the end of World War II including the IMF, World Bank, and GATT. The regime was meant to ensure liberal free trade and investment in the Western world.

Neo-functionalism

A set of theories that holds that broader political unions or movements will occur when smaller functional organizations exist previously.

Guerrilla

A soldier or type of warfare. A guerrilla is one who engages in irregular warfare, such as hit-and-run raids, mining, setting booby traps, and surprise attacks. Such attacks sometimes include attacks on civilians. Sometime dressed in civilian clothes themselves, they are often labeled "terrorists" by the forces they are fighting. Also called "insurgents."

late industrialization

A term for industrialization as it occurred during the late 19th century and on which involved even more rapid industrial growth than the 18th and early 19th centuries and which saw new industries such as steel, chemicals, petroleum, and electrical machinery play a greater role. See also "industrial revolution."

Insurgency

A war against an established government by insurgents or guerrillas, whether urban or rural.

Soviet Union

AKA Union of Soviet Socialist Republics or USSR. A Eurasian state from 1918-1992, the inheritor of the territory of the Russian Empire, and a major world actor prior to World War II, and a superpower until its collapse in 1992. The Russian Federation is the legal successor state to the USSR.

Balance of Trade

Also known as the Merchandise Balance, this is the value of goods exported minus the value of goods imported. Trade between two countries is the bilateral balance of trade. Trade of a country with the entire world is the overall balance of trade.

Customs Union

An area that encompasses two or more sovereign states which for trade purposes combine their tariff, customs and inspection laws to form one single trade area. Also known by its German name, Zollverein.

industrial revolution

An economic trend in which manufacturing, mining and industry grow rapidly and eclipse agriculture as the main source of wealth in an economy. This also increased the power of states. Most commonly associated with Britain from the 1750s-1850s, and spreading to Germany and the rest of Europe and North America in the late 19th century, and to Japan and East Asia in the 20th century, the industrial revolution also substantially increases the capacity of states which undergo it. See also "Late Industrialization."

Liberalism

An ideology arising in the early 19th century, involving belief in liberty, free trade, individual rights and responsibilities, separation of church and state, and little government interference in the workings of markets. Sometimes called "Classical Liberalism" to distinguish it from social liberalism, or "Liberal" in the American political sense of the word.

State

An independent country. States have recognized and defined territories and borders, send and receive diplomats from other countries, and are recognized as sovereign.

Universal Postal Union (UPU)

An international organization headquartered in Bern, Switzerland, and founded in 1874 to establish standards, definitions and coordinate common processes for international mail.

Non-Governmental Organization (NGO)

An international organization in which the members do not represent governments but rather private or non-profit organizations, corporations, or religious movements.

Okinawa

An island chain and prefecture of Japan since 1879. Seized by United States forces in 1945, it was administered by the USA from 1945 until it was returned to Japan in 1972

international organization

An organization which is usually composed of countries as members, such as the United Nations.

Carbon Dioxide

Carbon Dioxide (CO2) is a major greenhouse gas in the earth's atmosphere that comes from both natural and human-made sources, and is a major contributor to global climate change

Devaluation

Changing the rate at which a currency is exchanged for another in official transactions by the government. A devaluation typically makes a country's exports cheaper and its imports more expensive, but also results in inflation.

Chlorofluorocarbons

Chlorofluorocarbons (usually abbreviated CFCs) are gasses formerly used for refrigerants, propellants and other industrial uses, but which have been phased out because of their effect on the ozone layer. The Montreal Protocol eliminated their use.

Textiles

Cloth and fabric which can be either woven or knitted, natural such as cotton, wool, or linen, or man-made such as rayon, nylon or polyester.

Africa

Continent and home to over 50 states, most of which became independent in the 1960s and joined the United Nations that decade, substantially increasing the size of the UN General Assembly

Export-Promotion Industrialization (EPI)

Export-Promotion Industrialization, sometimes abbreviated EPI, is a government economic strategy of seeking to industrialize by promoting exports from the country, and if necessary importing the raw materials to make them. Most notable in the industrial success of Japan, South Korean, Taiwan, Hong Kong, and Singapore. Cf. Import Substitution Industrialization (ISI).

Euro

Formerly known as the European Currency Unit (ECU). This is the currency of the European Union, and all former currencies (Marks, Francs, Guilder, Lira) were based upon their set values in Euros after January 1, 1999. Euro notes replaced national currencies on January 1, 2002 in the countries of the "Euro-Zone."

Congo

Formerly the Republic of the Congo, formerly the Belgian Congo, formerly the Congo Free State, currently the Democratic Republic of the Congo. Second largest country in Africa by size and former Belgian colony.

Zaire

Formerly the Republic of the Congo, formerly the Belgian Congo, formerly the Congo Free State, currently the Democratic Republic of the Congo. Second largest country in Africa by size and former Belgian colony.

Greenhouse gasses

Gasses in the earth's atmosphere such as carbon dioxide (CO2 and methane (CH4) which are thought to trap solar heat within the atmosphere and cause global warming, much as the panes of glass in a greenhouse trap heat within.

GATT

General Agreement on Tariffs and Trade. The GATT was set up after World War II as part of the Bretton Woods institutions. The GATT monitors tariffs and non-tariff barriers but does not have enforcement powers. Replaced in 1995 by the World Trade Organization (WTO).

Import Substitution Industrialization (ISI)

Import Substitution Industrialization, often abbreviated as ISI, is a national strategy of industrialization that raises barriers to foreign imports so that domestic consumers must substitute domestic manufacturers, which may be more expensive or of lesser quality. Although the GATT and WTO recognize that developing countries "infant industries" may need short-term protection, these organizations discourage the strategy as a long-term approach to industrialization. Cf. Export Promotion Industrialization.

IMF

International Monetary Fund. The Fund was set up after World War II as part of the Bretton Woods institutions, and designed to keep countries' currencies in line with each other. Subsequently, the IMF has become the lender of last resort, bailing out seriously indebted countries but only after they have adopted harsh austerity measures.

Leopold II

Leopold II (1835-1909) was the second king of Belgium, and the sole owner of the Congo Free State, which was ruthlessly exploited for its ivory, rubber and other natural resources.

foreign aid

Money or goods granted or loaned to a state by another state or multilateral organization. Also known as Official Development Assistance (ODA), foreign assistance, development assistance.

Monetary

Of or relating to money, such as exchange rates, different currency exchanges, and the flow of international capital. Cf. Fiscal.

ODA

Official Development Assistance. See "foreign aid."

PLO

Palestinian Liberation Organization. An umbrella group of organizations all dedicated to the re-establishment of a Palestinian state. The leader of the PLO was Yassir Arafat (1929-2004) who has his own organization, Al-Fatah. Some of the organizations under the umbrella of the PLO might be described as non-violent, whereas others are correctly described as "terrorist."

Nixon

Richard M. Nixon (1913-1994) was 37th President of the United States. Under his administration, the United States undertook a wide variety of foreign policy changes, such as the opening to the People's Republic of China in 1972, detente with the Soviet Union from 1972-75, the abrupt floating of the US dollar in 1973 known as the "Nixon Shock."

Regime

Set of rules, norms, and institutions involving whole or parts of the world and its interactions. It is possible to talk of a "Bretton Woods" regime, or an international whaling regime. Note that the word "regime" is also used foreign policy officials to describe governments they dislike or oppose.

Earth Summit

The 1992 meeting of the United Nations Conference on Environment and Development (UNCED) in the Brazilian city of Rio de Janeiro, which sought to focus the post-Cold War world on environmental issues.

Balance of Payments

The Balance of Trade, but other items, such as trade in services, and government and private financial transfers.

International Telecommunication Union (ITU)

The International Telecommunication Union (ITU), originally the International Telegraph Union, coordinates international policies on telegrams, radios, satellites, broadband and wireless technologies by setting standards.

LIBOR

The London Inter-Bank Offering Rate. This is the interest rate at which international banks lend each other money, and is (along with the US Prime Rate) a key index of how expensive it is to get a loan.

OPEC

The Organization of Petroleum Exporting Countries. An Arab-led oil cartel which seeks to increase petroleum prices by restricting output.

Collective Action

The action performed by individual and autonomous actors collectively, in which no single actor can compel another to perform, thus leading to problem of coordination and burden-sharing.

Global commons

The concept that some resources and objects represent a good that by rights belongs to all mankind, not just an individual or nation. Examples might include the atmosphere or the oceans.

sovereignty

The condition of having supreme legitimate authority in a geographically-defined area. For states this is often termed "independence" and involves the right to conduct the internal affairs of state without legal interference by other entities.

Baht

The currency of Thailand. Pegged by the Bank of Thailand to the US Dollar until 1997 when it was devalued, triggering the Asian Financial Crisis

Comparative advantage

The economic principle that some countries are better able to produce a particular item than others and therefore should specialize in making that particular item and trade for other items. Proposed internationally by British economic David Ricardo in 1817.

International Whaling Commission (IWC)

The international organization that is responsible for regulating and maintaining whale stocks around the world. Issued a near-blanket moratorium on whaling in 1986.

Biodiversity

The number of different species within an ecosystem divided by the number of individuals within the system. Temperate and sub-arctic climates tend not to be very biodiverse; they have many individuals of a relative few number of species. As one gets closer to the equator, biodiversity increases, as the number of species increases.

Free rider

The phenomenon in a public goods system in which some actors take from the public good without contributing to it, "riding for free" while others pay for it.

Imperialism

The principle of creating an empire, which involves the imposition of external rule on a foreign people, usually for economic gain or increasing power. Very similar to colonialism.

Colonialism

The principle of creating colonies, sometimes for economic gain or for resettlement of surplus population. Very similar to imperialism, except that colonialism usually involved population transfers.

Enclosure

The process in 18th century Britain whereby pastures and fields which were formerly considered to be the common property of a village or area were brought under the control of individually-owned estates. More generally, the process whereby a public or collective good is brought under the ownership of an individual entity.

Amazon River

The world's largest river by discharge volume and the watershed of the world's largest tropical rainforest.

Foreign Exchange

These are convertible currencies such as the US Dollar,the British Pound, the Japanese Yen, Euro and now the Chinese yuan (RMB). Also abbreviated as "FX".

Union

This is the condition under which two or more countries have such good strategic and other relations that they join together to form a single political unit.

Terrorism

Violent actions usually against unarmed civilians which are randomnly or indiscriminately chosen in order to create a sense of insecurity and uncertainty in the greater population. Definitions vary, since one person's "Freedom Fighter" is another person's "terrorist."

WTO

World Trade Organization. Set up as the replacement to the GATT in 1995, it is meant to be more comprehensive, including issues of Intellectual Property Rights, services, textiles, etc.