Chapter 2 - Lesson 1: The Global Economy

Question 1

WHO

Instead of focusing on those that prosper
from capitalism, he recognizes the semiperipheral and peripheral communities that are largely disenfranchised.

Answer 1

Immanuel Wallerstein

Question 2

WHAT

Wallerstein’s perspective supports the idea that capitalism is more negative than positive in nature for those under its
constraints.

Answer 2

Neo-Marxism

Question 3

WHAT

is defined as an approach that emphasizes class struggle as the primary factor influencing revolutionary situations and outcomes, focusing on the potential role of the rural peasantry alongside the urban working class in bringing about socialist revolution.

Answer 3

Neo-Marxism

Question 4

WHAT

Focuses more on incremental change and the transformation of societal norms through cultural and ideological critique.

Answer 4

Neo-Marxism

Question 5

WHAT

Advocates for revolutionary change through the overthrow of capitalist systems. The focus is on collective action by the working class to dismantle existing power structures.

Answer 5

Marxism

Question 6

WHAT

His ideas on the treatment of core to the
peripheral are not too unlike the bourgeoisie and proletariat in Marx’s
theories.

Answer 6

Neo-Marxism

Question 7

WHAT

Objects become increasingly commoditized within the market, including laborers themselves, this unevenness is only increased.

Answer 7

Neo-marxism

Question 8

WHAT

While many people continue to believe
that there exists a third world economy,
this argues that there is instead only one
world economy, comprised of core, semiperiphery and periphery economies.

Answer 8

World System Theory

Question 9

WHAT

The more dominant core economies,
however, are still heavily reliant on and
intertwined with the semi-periphery and
periphery economies.

Answer 9

World System Theory

Question 10

What are the Multiple Crises of Global Capitalism?

Answer 10

1. The crises of over production
2. A crises of legitimacy
3. The crisis of liberal democracy
4. Overextension
5. The rise of the anti-corporate globalization movement
6. The world social forum and the construction of a global community

Question 11

The Multiple Crises of Global Capitalism

The overcapacity that could portend more than an ordinary recession. Tied to an increasingly integrated global production system and market and the
manufacturing sector of the world’s economy.

Answer 11

The crisis of overproduction

Question 12

The Multiple Crises of Global Capitalism

This represents the Great depression, with the mechanism of stock market
Keynesianism exhausted.

Answer 12

The crisis of overproduction

Question 13

The Multiple Crises of Global Capitalism

This refers to the increasing inability of the neoliberal ideology underpinning
today’s global capitalism to persuade people of its necessity and viability as a
system of production, exchange and distribution.

Answer 13

A crisis of legitimacy

Question 14

The Multiple Crises of Global Capitalism

In both the North and South liberal democracy has served as the political
cocoon for the stable reproduction of capitalism, so the importance of its
legitimacy and stability cannot be understated.

Answer 14

The crisis of liberal democracy

Question 15

The Multiple Crises of Global Capitalism

In Asian countries, popular disillusionment with elite democracies fueled by money politics is rife among the lower and middle classes.

Answer 15

The crisis of liberal democracy

Question 16

The Multiple Crises of Global Capitalism

The recent expansion of US military influence into Afghanistan, Philippines,
Central and south Asia may communicate strength, yet, despite all this movement, the US has not been able to consolidate victory anywhere.

Answer 16

Overextension (Imperial Overstretch)

Question 17

The Multiple Crises of Global Capitalism

These crises are unfolding even as the movement against corporate globalization, neo-liberalists, free trades and other policies.

Answer 17

The Rise of the Anti-corporate Globalization Movement

Question 18

The Multiple Crises of Global Capitalism

The inability of a system to deliver its promises – is its revelation of opposing
interests between the elites and the vast majority, and the realization of common interests among the latter.

Answer 18

The World Social Forum and the
Construction of a Global Community

Question 19

(—–) as a dimension that derives partly from its historical
development. Evolution of international markets and corporations led to an intensified form of global interdependence.

Answer 19

Economic Globalization

Question 20

What are the indicators and manifestations of economic globalization?

Answer 20

• General analysis on globalization of the economy
• International Trade and Development
• Multilateral agreement on investment and related initiatives
• Transnational Corporations
• Foreign Direct Investment
• World Trade Organization
• World Bank
• International Monetary Fund
• Global Taxes

Question 21

The indicators and manifestations of economic globalization

Represents the manifestation of international trade, financial transfers, and foreign direct investment, the increasing internationally interconnected economy

Answer 21

General analysis on globalization of the economy

Question 22

The indicators and manifestations of economic globalization

Trade agreements like FTAA, NAFTA, CAFTA facilitate international trade, thereby strongly impacting people at all levels of the economy

Answer 22

International Trade and Development

Question 23

The indicators and manifestations of economic globalization

is an agreement or treaty given with the terms and conditions discussed and undertaken by three or more sovereign parties namely the participating nations or private entities

Answer 23

Multilateral agreement on investment and related initiatives

Question 24

The indicators and manifestations of economic globalization

Transnational corporations have become some of the largest economic entities in the world, surpassing many states.

Answer 24

Transnational corporations

Question 25

# The indicators and manifestations of economic globalization An investment to a business in a given nation state in the form of controlling its ownership.

Answer 25

Foreign Direct Investment

Question 26

# The indicators and manifestations of economic globalization The intergovernmental organization sets and enforces the rules of international trade between the nations and states.

Answer 26

World Trade Organization

Question 27

# The indicators and manifestations of economic globalization Its function is to eradicate poverty by loaning poor countries money for economic development, but these loans often come with demands of economic liberalization.

Answer 27

World Bank

Question 28

# The indicators and manifestations of economic globalization Intergovernmental organization that envisions as a lender of last resort for countries experiencing economic crises.

Answer 28

International Monetary Fund

Question 29

# The indicators and manifestations of economic globalization To implement global taxes the need for democratic oversight and control, the policy shaping effects, and distributive effects.

Answer 29

Global Taxes

Question 30

# WHAT These are the entities that influences the global economic processes. They can be classified as public or private organization, economic forums and regulatory system either established by governmental or business entities.

Answer 30

Actors of Economic Globalization

Question 31

What are the actors of economic globalization?

Answer 31

* International Chamber of Commerce * Bidlerberg Group * Trilateral Commissions * World Economic Forum * World Business Council for Sustainable Development

Question 32

# Actors of economic globalization Historically functioned as the most comprehensive business forum committed to liberalization. Refers to itself as the World Business Association * Related IOs are WTO, G20 summit and OECD (Organization for Economic Cooperation and Development)

Answer 32

International Chamber of Commerce

Question 33

# Actors of economic globalization The group provided a context for more comprehensive international capitalist coordination and Planning. Assembled in the spirit of corporate liberalism, representatives of Right and Left, capital and organized labor. * Related IOs are CFR (council on foreign relations), IMF, World Bank, Trilateral Commission, EU and NAFTA (North American Free Trade Agreement).

Answer 33

Bilderberg Group

Question 34

# Actors of economic globalization Forum to foster effective collaborative leadership in the international system and closer cooperation among the core capitalist regions of Northern Europe, North America and Japan – the triad. * Related IOs are CFR (council on Foreign Relations), Bilderberg Group, G7 summit and G8 summit.

Answer 34

Trilateral Commission

Question 35

# Actors of economic globalization Convened Europe’s CEOs to an informal gather in Switzerland to discuss European strategy in an international marketplace. * Related IOs are World Bank, IMF and GATT

Answer 35

Wolrd Economic Forum

Question 36

Formed in a merger of the Geneva-based Business Council for Sustainable Development and the Paris-based World Industry Council for the Environment (ICC branch). * Related IOs are UNEP(UN Environmental Program), UNCTAD (UN conference on Trade and Development), UNCED and (UN Conference on Environment and development)

Answer 36

World Business Council for Sustainable Development (1995)