Theory Origin + Modernization Theory
When did development studies originate?
After WWII
What Latin American country is referenced as an example of socialism created by revolutionary values and a new man?
Cuba
When did Latin American countries begin to occur debt?
1970s
When (approximately) did globalization begin?
1980s
What industry was central in the Chilean "Neoliberal Success?"
Copper mining
What two values does poverty and underdevelopment stem from (according to Modernization Theory)?
Traditional and cultural values
What type of trade does dependency theory focus on?
Unequal trade/raw materials vs. manufactured goods
What is the theory which defines neoliberal reforms?
Neopluralism
What is the term for "other nations' investment in Latin America?"
Transnational capital
What is the term for the idea that Brazil, as a large nation, was destined for economic greatness?
Grandeza
Is underdevelopment seen as a stage or a result of colonization, according to modernization theory?
A stage
What is the marxist term for workers?
Proletariat
What is the "Lost Decade?"
The period in the 1990s where debt continued to rise in Latin America
What is the global supply chain?
An economic assembly line where goods are made in many different countries in an "assembly line" fashion
Which nation (Cuba, Brazil, Chile) had to reshape their trade relations after the fall of the communist bloc in 1991?
Cuba
Which key institutions were created around the origin of development studies (3)?
World Bank, International Monetary Fund, GATT/World Trade Organization
According to dependency theory, what drains wealth and reinforces inequality?
Foreign investment
What world organizations imposed structural changes for access to new loans?
IMF and World Bank
What is the term for "focusing economy on the production of the good for which that country is the most efficient at production?"
Comparative advantage
Which nation (Cuba, Chile, Brazil), experienced an economic boom which led to hyperinflation?
Brazil
Which organization's creation (in response to development studies) did not succeed?
International Trade Organization (ITO)
What are the stages of history according to the marxism (6)?
Primitive communism, slavery, feudalism, capitalism, socialism, communism
What are the 3 factors which hindered Latin American countries from repaying foreign debt?
Corruption, lack of strong local industries, heavy reliance in ISI and export industry
What 21st century political shift in Latin America challenged neoliberalism?
The Pink Tide
What year was Brazil's "Real Plan" enacted?
1993