Ch. 12 Global Economy Flashcards
economy
a cultural adaptation to the environment that enables a group of humans to use the available resources to satisfy their needs and to thrive
food foragers
humans who subsist by hunting, fishing and gathering plants to eat
pastoralism
a strategy for food production involving the domestication of animals
horticulture
the cultivation of plants for subsistence through nonintensive use of land and labor
slash and burn agriculture
a practice of clearing land for cultivation (swidden farming)
agriculture
an intensive farming strategy for food production involving permanently cultivated land
industrial agriculture
intensive farming practices involving mechanization and mass production
carrying capactiy
the number of people who can be supported by the resources of the surrounding region
barter
the exchange of goods and services one for the other
reciprocity
the exchange of resources, goods and services among people of relatively equal status; meant to create and reinforce social ties
redistribution
a form of exchange in which accumulated wealth is collected from the members of the group and reallocated in a different pattern
leveling mechanism
practices and organizations that reallocate resources among a group to maximize collective good
colonialism
the practice by which a nation-state extends political, economic and military power beyond its own borders over an extended period of time to secure access to raw materials, cheap labor, and markets in other countries or regions
triangle trade
the extensive exchange of slaves, sugar, cotton and furs between Europe, Africa, and the Americas that transformed economic, political and social life on both sides of the Atlantic
industrial Revolution
the eighteenth and nineteenth century shift from agriculture and artisanal skill craft to machine-based manufacturing
modernization theories
Post-World War II economic theories that predicted that with the end of colonialism, less-developed countries would follow the same trajectory toward modernization as the industrialized countries
development
Post-World War II strategy of wealthy nations to spur global economic growth, alleviate poverty, and raise living standards through strategic investment in national economics of former colonies
dependency theory
a critique of modernization theory that argued that, despite the end of colonialism the underlying economic relations of the modern world economic system had not changed
neocolonialism
a continued pattern of unequal economic relations despite the formal end of colonial political and military control
underdevelopment
the term used to suggest that poor countries are poor as a result of their relationship to an unbalanced global economic system
core countries
industrialized former colonial states that dominate the world economic system
periphery countries
the least developed and least powerful nations; often exploited bu the core countries as sources of raw materials, cheap labor and markets
semiperiphery coutnries
nations ranking in between core and periphery countries, with some attributes of the core countries but with less of a central role in the global economy
Fordism
the dominant model of industrial production for much of the twentieth century; based on a social compact between labor, capital and government
flexible accumulation
the increasingly flexible strategies that corporations use to accumulate profits in an era of globalization, enable by innovation communication and transportation technologies
global city
a former industrial center that has reinvented itself as a command center for global production
neoliberalism
an economic and political worldview that sees the free market as the main mechanism for ensuring economic growth, with a severely restricted roles for government
commodity chain
the hands an item passes through between producer and consumer
