Globalization History
When did the Contemporary period occur and what advancement contributed to globalization at this time?
1980s-present. Technology, social media.
What was the purpose of the Breton Woods Conference?
Unite Europe after WWII, expand and establish regulations for international trade, connect international markets
What are TNC's and what role do they play in the global market?
Trans National Corporations. Control most of the world's capital and economic power.
What role does the media play?
Influences our views, opinions, ideas.
What is the relationship between Globality and the Global Imaginary?
Globality-How interconnected our world is
Global imaginary-How we view globality
Name the 2 inventions and the protagonist of the Pre-modern period
Inventions-Writing and the wheel.
Protagonist-Chinese empire.
What does the IMF do and what does it administer?
Regulates financial flow, trade, and exchange rates. Administers structural adjustment programs
Name 3 measures of Neoliberalism
privatization of public enterprise, deregulation of economy, liberalization of trade and industry, tax cuts, control of organized labor, gov. smaller, expansion of int. markets
What caused the Syrian conflict?
Dictatorship which pushed back against pro democracy groups in Syria
What does the Blind Scholar's analogy tell us about Globalization?
There is no single way to define it. Contains many aspects, meanings.
Name the protagonist and 2 characteristics of the Pre Historic period
Protagonist-Hunter gatherers
Characteristics-Agriculture, Social Structures, crafts
How are the Gold Standard and Nixon shock related?
Nixon shock ended the gold standard in 1971
What is the difference between neoliberalism and Keynesian economic structure?
Keynesian-Heavy market structure/regulation
Neoliberalism-Free, self-regulating market structure.
What marked the start of climate change, and what is contributing to increasing effect?
Industrial revolution started it, gas emissions and policies continuing it.
Define Xenophobia and Ethnocentrism
Xenophobia-Fear of foreign people, values, cultures.
Ethnocentrism-Seeing the world through the lens of one's own perspective and judging others based on that perspective.
What are 2 characteristics of the Modern Period?
Population increase, nationalism, war, labor movements
What is the WTO and what does it regulate?
World Trade Organization(formerly GATT). Creates and enforces international trade agreements
Define Structural Adjustment Programs(SAP) and name 3 SAP policies
Loans given to countries in economic crises. Come with certain policies that must be implemented in order to receive the loans.
o Guarantee of fiscal discipline in prep. for budget deficits
o Reduction of public expenditure (esp. in the military and public administration
o Tax reform (broad based system with effective enforcement)
o Financial liberalization with interest rates determined by the market
o Competitive exchange rates to assist export-led growth
o Trade liberalization (coupled with reduction of import fees)
o Promotion of foreign direct investment
o Privatization of state enterprises
o Deregulation of the economy
o Protection of property rights
How has the Syrian conflict affected migration?
Millions of Syrians have left the country
Explain and contrast the viewpoints between Pessimistic and Non-Pessimistic Globalizers.
Pessimistic-Americanization will take over the world and become the dominant culture
Non-Pessimistic-Culture is always changing, globalization is natural, necessary.
Name the protagonist and 2 characteristics of the Early Modern Period
Protagonist-Europe
Characteristics-New world exploration, merchant classes, slavery
What is the World Bank and what does it do?
Gives aid to developing countries
Contrast what Globalizers and Skeptics believe in regards to the relationship between the government and the market
Globalizers-Market will get too big and will eventually take control. Gov will have no power.
Skeptics-Gov will always play a role and influence market.
Define Anthropocentrism
View that humans are superior to all beings and everything is defined based on human experiences/values
Explain the three market ideologies
Market-Similar to neoliberalism. market integration, claims everyone benefits
Religious-goal to connect religion across globe, but can lead to conflict
Justice-Distributive justice, global solidarity, protect environment