Economic History
This global phenomenon began with the arrival of Columbus in the New World and Da Gama in India.
What is European colonialism?
With goal of promoting peace, leaders of the Allied countries in World War 2 favored this economic policy.
What is Economic Interdependence?
This institution established at the Bretton Woods Conference of 1944 is a lender of last resort for countries.
What is the International Monetary Fund?
This term groups together countries which are economically still developing and were formerly colonized.
What is the Global South?
This momentous transformation starting in 19th century Britain, resulted in new production practices, market expansion, and the creation of a working class.
What is the Industrial Revolution?
This policy approach opposes free trade and imposes tariffs on imports.
What is Protectionism?
This policy framework told countries to cut public spending, liberalize trade, and deregulate markets.
What is Neoliberalism/the Washington Consensus?
Jeffrey Sachs and William Easterly have been having a bitter intellectual feud about the effectivenes off this system.
What is Foreign Aid?
This event changed politics around the world by popularizing the idea that "all men are created equal".
What is the American Revolution?
Emering out of the General Agreement on Trade and Tariffs, this new organization was established in 1995.
What is the World Trade Organization?
These were given to Third World countries on the condition that they need to liberalize their economies.
What are IMF loans?
This institution established at Bretton Woods, NH in 1944 gives loans to countries for infrastructure and development projects.
What is the World Bank?
Emerging in 17th and 18th century Europe, this new political idea changed the face of the world.
What is the nation-state?
This is the ability of one country to produce some good more efficiently than its competitors.
What is Comparative Advantage?
This economic event caused a global crisis and led to a rising tide of backlash against globalization in the USA.
What is the 2008 Financial Crisis?
Latin American thinkers argued that capitalist development in the West produced underdevelopment elsewhere
What is Dependency theory?