Capitalism

• an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state

• the policy or practices of acquiring full or partial political control over another country, occupying it with settlers and exploiting it economically
• encouraged the diffusion of technology and insitutions 
• based on categorical domination and discrimination

• a state of political hostility between countries characterized by threats, propaganda and other measures short of open warfare
• ended bipolar world, left USA as the only great superpower

• a country should specialize in producing and exporting only those goods and services which it can produce more efficiently (at a lower opportunity cost) than other goods and services( which it should import)
• leads to free trade

• freeing a country from being dependent on another countryu through colonialism

• weak structural position of developing countries in the international capitalist system influences important variables in their political life as well as explains their failure to achieve stronger development
• rich countries depend on poor countries staying poor
• cause of underdevelopment

• positions Third World people as powerless objects rather than as active subjects and agents

• ways of speaking that organize knowledge in particular ways to establish power relations

• investment made by a company or entity based in one country, into a company or entity based in another country
• can lead to economic growth, sharing of technologies, employment opportunities

• the unrestricted purchase and sale of goods and services between countries without the imposition of constraints such as tariffs, duties and quotas
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• a historical process involving a fundamental shift or transformation in the spatial scale of human social organization that links distant communities and expands the reach of power relations across regions and continents"
• Stretching:the idea that a local event somewhere will have an impact elsewhere
• Magnitude: the idea that interconectedness is intensifying in virtually all spheres
• Acceleration: the idea that the speed of communications and transportation technology is increasing rapidly
• Extensity, intensity, and velocity: the idea that the growing enmeshment of the global and local is resulting in a growing global consciousness

• A system of beliefs or theories, usually political, held by an individual or a group

• acquisition by a government of other governments or territories
• imperialism is related to colonialism 

• The supposition that emerging domestic industries need protection against international competition until they become mature and stable. In economics, an infant industry is one that is new and in its early stages of development, and not yet capable of competing against established industry competitor
  
  

• are financial institutions that have been established (or chartered) by more than one country, and hence are subjects of international law. Their owners or shareholders are generally national governments, although other international institutions and other organizations occasionally figure as shareholders
• used for the purpose of international development

• the theory that cultures and societies develop in similar fashion by rejecting traditional cultural restrictions on the division of labour in favour of liberal individualism, urbanization and industrialization
• It implied that with the right kind of liberal policies and sufficient capital for investment all societies could become prosperous capitalist and democratic
•  Underlying this was an optimism that change and development was easy and that there was no need to concentrate control in a powerful state.

• A corporation that has its facilities and other assets in at least one country other than its home country. Such companies have offices and/or factories in different countries and usually have a centralized head office where they co-ordinate global management.
• revolutionary effect on the international economic system
• inter­national transactions of the multinationals has affected the more tradi­tional forms of capital flows and international trade for many economies
• can disrupt the economies of the less developed countries, and may even threaten their political sovereignty.

• Devotion, especially excessive or undiscriminating devotion, to the interests or culture of a particular nation-state

• The idea that political choices available today are constrained by  past choices
  •The cultural background; colonial institutions; the ways in which a country gained independence (revolution, mass movement, war, peaceful negotiation by elites) all constrain choices of the post-colonial  regimes
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• the theory or practice of shielding a country's domestic industries from foreign competition by taxing imports.
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• 1. new product invoation
• 2. saturation of domestic market
• 3. export
• 4. diffusion of technology- foreign investment
• 5.reimport of the product

• the totality of governmental institutions, officials, laws, and procedures in a country
• state= government+administrationn +civil society
• important for authority, legitimacy, innovation

• wholly reliant on the self provisioning of the community. 
  
  

•  refers to the relative price of exports in terms of imports and isdefined as the ratio of export prices to import prices. It can be interpreted as the amount of import goods an economy can purchase per unit of export goods.
• determine the gain that accrues to a country from international trade.

•  underdevelopment is when resources are not used to their full socio-economic potential, with the result that local or regional development is slower in most cases than it should be.
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