1st Long Test Flashcards
Is the word used to describe the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.
Globalization
A concept that “refers both to the compression of the world and the intensification of consciousness of the world as a whole”.
Globalization by Robertson, 1992
The compression of time and space and the annihilation of distance
Globalization by Harvey, 1989
A process of interaction and integration among people companies and governments of different nations, a process driven by international trade and investment and aided by information technology.
Globalization by Sunny Levin Institute
In the absence of a generally accepted definition, Steger explains that GLOBALIZATION has been commonly understood either as a _______, a _________ or an ________.
PROCESS, a CONDITION or an IDEOLOGY.
As a process, Globalization is viewed as a __________ set of social processes that create, multiply, stretch, and intensify worldwide social interdependencies and exchanges while
at the same time fostering in people a growing awareness of deepening connections between the local and the distant. (Steger, 2005: 13)
multidimensional
Steger used the term “_________” to signify a future social condition characterized by thick economic, political, and cultural interconnections and global flows that make currently existing political borders and economic barriers irrelevant.
GLOBALITY
In support of his view that globalization is a political belief system that benefits a certain class, Steger used the _______________ of another globalization scholar, _______________, by following the latter’s 3 Criteria in determining an ideology.
line of reasoning; Michael Freeden
3 Criteria in determining ideology:
Degree of uniqueness and morphological sophistication
Context-bound responsiveness to broad range of political issues
Produce effective conceptual DECONTESTATION CHAINS
Freeden considers ‘__________’ a crucial process in the formation of thought systems because it specifies the meanings of the core concepts by arranging them in a ‘_______’ or ‘__________’ that links them with other concepts in a meaningful way.
decontestation; pattern or configuration
According to Steger, “effective decontestation structures can thus be pictured as _______________ whose conceptual links convey authoritative meanings that facilitate collective decision-making.”
simple semantic chains
Steger refers to them as _______________ - endow thought systems with specific meanings that benefit particular social groups.
‘ideological claims’ (also called ‘Core Claims’)
Steger’s 6 Core Claims (Decontestation Chains):
Globalization is about the Liberalization and Global Integration of Markets
Globalization is Inevitable and Irreversible
Nobody is in Charge of Globalization
Globalization Benefits Everyone in the
Long Run
Globalization further the Spread of
Democracy
Globalization requires a Global War on
Terror
6 Theoretical Paradigms of Globalization
World Systems
Global Capitalism
The Network Society of School of Thought
Space, Time and Globalization
Transnationality & Transnationalism
Global Culture
views globalization not as a recent phenomenon but as virtually synonymous with the birth and spread of
World Capitalism. (Wallerstein)
World Systems
end to see globalization as a novel stage in the evolving system of World Capitalism-
“Capitalist Globalization”.
Global Capitalism
capitalism does not fuel globalization but technology and technological change as the underlying
cause of globalization. (Castell)
The Network Society of School of Thought
the conceptual essence of globalization is “time-space distanciation”- which Giddens defines as the “intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice-versa.”
Space, Time and Globalization
defined broadly as the multiple ties and interactions- economic, political, social and cultural- that link people, communities and institutions across the borders of nation-states.
Transnationality
umbrella concept encompassing a wide variety of transformative processes, practices and developments that take place simultaneously at a local and global level.
Transnationalism
emphasize the rapid growth of the mass media and resultant global cultural flows and images in recent decades evoking the image famously put forth by Marshal McLuhan of the “the global village”.
Global Culture
Major Goals of Macroeconomics
High levels and rapid growth of output and consumption;
High employment, with an ample supply of good jobs;
Price-level stability (or low inflation), through prices and wages set in free markets;
Fruitful international trade in goods, services, and capital, where exports balance imports and the nation has a
stable exchange rate against foreign currencies.
is the process by which nations export and import goods, services and financial capital
is vital to economic growth because it expands a nation’s consumption possibilities.
International Trade
Economic Basis of Trade
Different nations are endowed with various kinds and amount of natural resources
The production of varied goods and services require different combinations of economic resources and also particular technology.
Various nations have different specializations that make their products highly differentiated.
_______________ is a historical process, the result of human innovation and technological progress. It refers to the increasing integration of economies around the world, particularly through the movement of goods, services, and capital across borders. The term sometimes also refers to the movement of people (labor) and knowledge (technology) across international borders. (IMF, 2008]
Economic Globalization
