Term
| What are core features of capitalism? |
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Definition
-Ceaseless search for profit
-Ceaseless search for new markets
-Ceaseless search for cheaper inputs |
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Term
| What term, initially developed by the Italian philosopher Antonio Gramsci, describes the situation whereby a particular set of ideas have become the ‘common sense’ in a particular society? |
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Definition
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Term
| Sparke identified these three myths about globalization |
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Definition
-Globalization is new
-Globalization is inevitable
-Globalization is a leveler |
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Term
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Definition
| Production organized vertically within company |
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Term
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Definition
| Consistent orders for suppliers and restrictions preventing them from working with competitors |
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Term
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Definition
| Networks formed with various suppliers who have different tasks and specifications sent to them by the supplier |
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Term
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Definition
| The commodity chain is managed by family or clan relationships based on trust or friendship and tied together by social, familial links |
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Term
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Definition
| A pull production system, in which market retailers send signals down the chain to various buyers and producers in other parts of the world |
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Term
| Which corporation was a pioneer in the trend towards horizontal market integration? |
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Definition
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Term
| What term was coined by the then-WB President to symbolize the dominance of neoliberal-thinking in key development institutions by the late-1980s? |
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Definition
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Term
| After winning their national independence, many countries subsequently sought to break their dependence on foreign imports and increase the range of commodities manufactured domestically. This policy is commonly referred to as: |
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Definition
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Term
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Definition
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Term
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Definition
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Term
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Definition
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Term
| Who was a major proponent of the idea that neoliberalism is inevitable? |
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Definition
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Term
| The fair movement involves initiatives to: |
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Definition
-Practice free trade more fairly by, for example, removing agricultural subsidies in the US and EU -Balance fair trade measures with continued protection in other areas of development Incorrect
-Develop fairer commodity chains that ensure better wages for workers |
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Term
| What is a Transnational Corporation (TNC)? |
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Definition
| A company with operations and investments in more than one country |
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Term
| This term is often used to describe those countries and peoples of the world that are poor and less economically developed. |
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Definition
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Term
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Definition
| The balance between a country’s imports in basic goods and services versus its export. |
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Term
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Definition
| The net flow of investments in and out of a country. |
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Term
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Definition
| The trade balance + net transfer payments + net factor income. |
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Term
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Definition
| The interest on foreign investments (either coming in as income or going out as dividends) + outflows through remittances. |
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Term
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Definition
| Designated Suppliers Program |
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Term
| How is globalization defined in this course? |
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Definition
It is the extension, acceleration, and intensification of consequential worldwide interconnections.
-It is a term of political speech that is used by politicians, business people and protesters to make politically-charged arguments |
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Term
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Definition
| Moving production abroad to take advantage of cheaper labor, lower tax rates, or lower regulatory controls is known as? |
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Term
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Definition
| The huge investments made by the U.S. government into rebuilding post-war economies in Germany and other European nations was known as: |
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Term
| Why is the fable of the elephant and the blind men an appropriate metaphor for studying globalization? |
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Definition
| Only by pooling insights from different disciplines can we build a better understanding of globalization. |
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Term
| These terms convey a similar meaning to neoliberalism |
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Definition
-Market fundamentalism
-Laissez-faire
-Market-capitalism |
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Term
| The Battle in Seattle took place in which year? |
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Definition
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Term
| Multinational Corporations (MNCs) in the mid-twentieth century were different from today’s Transnational Corporations (TNCs) because: |
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Definition
| MNCs opened their own factories in another country to gain access to that market |
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Term
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Definition
| The process by which governments in Europe and North America sought to harmonize national consumption and national production is often referred to as? |
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Term
| What problem does Sparke identify with the ‘globalization 3-step’? |
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Definition
| It ignores how exaggerated claims about globalization actually shape world politics. |
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Term
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Definition
| North American Free Trade Agreement |
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Term
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Definition
| This term describes the ways in which the wealthiest societies continue to exercise global dominance over the rest, albeit through more market-mediated means today. |
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Term
| What term do opponents of neoliberalism sometimes use to describe ‘sourcing efficiency’? |
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Definition
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Term
| Hardt and Negri's Empire (2000) |
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Definition
| Argues that the multitude will rise up against global capitalism |
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Term
| Thomas Friedman's The World is Flat (2005) |
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Definition
| Argues that globalization is creating a world of more equal economic opportunity |
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Term
| Newt Gingrich and other Republian's contract with America (1994) |
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Definition
| Argues that the US needs to face up to the realities of globalization and abandon the older policies of a “self-indulgent national economy” |
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Term
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Definition
| This journalist and author encouraged all nations to adopt the ‘golden straightjacket’ of neoliberalism in The Lexus and the Olive Tree? |
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Term
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Definition
| Workers Rights Consortium |
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Term
| Approximately what percentage of contemporary global trade takes place within corporations? |
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Definition
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Term
| What does TINA stand for? |
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Definition
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Term
| What decision taken by President Nixon in the early 1970s helped to dismantle the Bretton Woods system? |
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Definition
| He abandoned the dollar-gold peg |
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Term
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Definition
| Free Trade Agreement of the Americas |
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Term
| What does NIDL stand for? |
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Definition
| New International Division of Labor |
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Term
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Definition
| Trade Related Intellectual Property Rights |
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Term
| What are the characteristics of money? |
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Definition
-Money acts as a store of value
-Money markets are a good indicator of underlying economic trends
-Money is a key part of any basic commodity chain |
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Term
| Is working-class political mobilization associated with the Fordist or Post-Fordist period? |
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Definition
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Term
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Definition
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Term
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Definition
| Transnational Advocacy Networks |
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Term
| Whose factory production model went on to influence the way many governments managed their national economies in the mid-twentieth century? |
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Definition
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Term
| What is true of the post-Fordist period in the US? |
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Definition
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Term
| Which country withdrew form the International Court of Justice in 1986 after it was ordered to pay $2 billion in reparations for its involvement in another country’s civil war? |
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Definition
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Term
| These figures are key in the post-Washington dissensus |
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Definition
-Joseph Stiglitz
-Jeffrey Sachs
-James Wolfensohn |
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Term
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Definition
| Low economic growth and high inflation |
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Term
| Why do foreigners continue to buy US debt? |
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Definition
-To protect themselves against speculative attacks on their own currency
-To maintain the value of their own dollar-denominated assets
-To keep their own currency relatively low vis-a-vis the dollar |
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Term
| What factors prompted the transition from Fordism to post-Fordism in the US in the 1970s/80s? |
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Definition
-Increasing foreign competition in manufacturing
-The end of the Cold War
Increasing focus on foreign markets |
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Term
| GATT was the precursor to which institution? |
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Definition
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Term
| Which country threatened to default on its loans in the early-1980s, sparking what came to be known as the ‘debt crisis’? |
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Definition
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Term
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Definition
| Structural Adjustment Programs |
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Term
| Who was responsible for developing influential principles on maximizing efficiency in factories in the early 20th century? |
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Definition
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Term
| The term ‘feminization of labor’ refers to: |
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Definition
| The increase in contingent and casualized paid work in the post-Fordist period |
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Term
| In 1944, the Allied powers organized a meeting to plan the postwar global economy. Where was this meeting held? |
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Definition
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Term
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Definition
| Heavily Indebted Poor Countries |
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Term
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Definition
| Asia Pacific Economic Cooperation |
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Term
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Definition
The General Agreement on Tariffs and Trade was one of the 3 main
institutional legacies of the Bretton Woods Agreement and was meant to
coordinate global trade rules. |
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Term
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Definition
A system of ideological control that operates through the reworking
of common-sense ideas into a system of assumptions and beliefs that
ensure the ongoing legitimation of particular policies and governmental
practices. For example, the control of economic commerce under Free Trade
Agreements such as NAFTA is defended and legitimized as a naturally good
idea by appeals to, amongst other things, the verbal resonance of "Free
Trade" with everyday ideas such as Freedom, Free Choice, Free Love, Free
Lunch. |
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Term
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Definition
| International Criminal Court |
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Term
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Definition
Sometimes referred to as ‘market fundamentalism’ or‘laissez-faire’, neoliberalism comprises a set of policies based on the idea that
capitalist social relations work best when they are liberalized from government regulation. The governmental policies associated with neoliberalism are now very familiar. They include privatization, tax-cuts, business deregulation, cutbacks in government services, a commitment to low inflation and price stability, the dismantling of the welfare state, and the entrenchment of free trade through trade liberalization |
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Term
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Definition
This term is used in the project descriptions in this
book as a catch-all term to describe all the ways in which TNCs attempt to
reduce the costs of production. It therefore includes all the practices that lead
to the downward pressures on wages and environmental standards such as
finding cheaper labor inputs, less rigorous or less rigorously enforced
environmental standards, and less expensive taxation regimes. |
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Term
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Definition
| Trade Related Investment Measures |
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Term
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Definition
The Washington Consensus (henceforth WC)was an early 1990s name for neoliberalism that usefully underlined the connections between free-market reforms and the controlling interests of the
government of the United States and Washington DC-based international
financial institutions (including the IMF and World Bank). |
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