Econ and Environment GG Flashcards
Similar to world bank, but dominated by China and focussed on Asian projects.
AIIB (Asian Infrastructure and Investment Bank)
Name given to the conference in 1944 that aimed to manage world financial systems.
Bretton Woods
When a state spends more than it raises in revenue.
Budget Deficit
Term used to describe loose alignment of major developing economies including China, India and Brazil.
BRICS
When one nation state exerts political/economic domination and control of another.
Colonialism
The money in circulation in a nation state or region.
Currency
Annual conferences on the environment set up as part of the Kyoto Protocol in 1992. Meets yearly.
COP (s) – Conference of the Parties
Marxist view that globalisation locks states into permanent need.
Dependency (world system) Theory
Advancement purely seen in economic terms.
Development (Orthodox view)
An environmental philosophy that promotes the inherent worth of all living beings regardless of their instrumental utility to human needs.
deep-green ecology
People living on less than $1.90 a day (on 2011 values) - severe deprivation of basic human needs.
Extreme Poverty
When a nation-states currency value varies on the international market.
Floating Exchange Rate
When nation states’ currencies are set a fixed point – traditionally compared to the US dollar.
Fixed exchange rate
The ability for nation states to trade with each without tariffs or barriers.
Free Trade
The group of the 7 leading democratic, free-market economies.
G 7
A broader group of the world’s leading 20 economies – created in 1999.
G20
Set up in 1947 – replaced by the WTO – a forum for states to set and discuss international trade rules.
GATT (General agreement on trade and tariffs)
Worldwide economic recession (from 1929-39) brought on by the Wall street crash.
Great Depression
The 2010 crisis which led the IMF, European Central Bank and European Commission to loan Greece money due to massive debt.
Greek Debt Crisis
Areas and resources that are un-owned and consequently beyond national jurisdiction.
(The) global commons
A measure of a countries development based on multi-dimensional poverty.
Human Development Index (HDI)
A body consisting of representatives of nation states governments.
IGO
Encourages global financial stability by providing loans and advice to countries.
IMF – International Monetary Fund
Initial name for the world bank – set up in 1944 to provide investment for countries.
International Bank for reconstruction and development
International financial institution which offers concessional loans and grants to the world’s poorest developing countries.
International Development Association
UN body set up as an internationally accepted authority on climate change.
Intergovernmental Panel on Climate Change (IPCC)
Was an international treaty which extended the 1992 (UNFCCC) that commits state parties to reduce greenhouse gas emissions.
Kyoto Protocol
Set up in 2000, these are to ensure all UN bodies and NGO’s were working towards the same targets.
MDG’s - Millennium Development Goals
Poverty measure that includes access to sanitation, clean water, electricity, education, child mortality and general health.
Multi-dimensional Poverty
The extreme free-market ideology that dominates world trade.
Neo-Liberalism
A nation states exerts strong economic or political influence over other state.
Neo-Colonialism
A non-profit organization that operates independently of any government, typically one whose purpose is to address a social or political issue.
NGO
A country whose level of economic development ranks it somewhere between developing and highly developed classifications.
NIC – Newly Industrialised countries
Global socio-economic and political divide.
North-South Divide
Cutting carbon emissions to a small amount of residual emissions that can be absorbed and durably stored by nature.
Net-Zero
Legally binding international treaty on climate change adopted by 196 Parties at the UN Climate Change Conference (COP21).
Paris accord
People who are unable to access average standard of living in a state – earning below 60% of the average income.
Relative Poverty
A programme of economic intervention – usually following Neo-Liberal ideas – which is imposed as condition of an IMF loan.
SAP – Structural Adjustment Programme
Improvements in a country that take into account the environment.
Sustainable Development
Targets set by the UN - a call to action to end poverty and inequality, protect the planet, and ensure that all people enjoy health, justice and prosperity.
Sustainable Development Goals (SDG’s)
The political or philosophical position within Ecologism that holds the idea that the protection and conservation of the environment should only be practised when beneficial to humans.
shallow-green ecology
Development that meets the needs of the present, without compromising the ability of future generations to meet their own needs.
Sustainable development
Situation within a shared-resource system where individual users acting independently and rationally according to their own self-interest behave contrary to the common good of all users by depleting that resource.
Tragedy of the commons.
An international environmental treaty negotiated at the Earth Summit in Rio de Janeiro in 1992.
United Nations Framework Convention on Climate Change (UNFCCC).
Dominance of free-market in trade that is “agreed” around the world.
Washington Consensus
Set up in 1944 to focus on long term global development.
World Bank
Annual conference of world leaders and business leaders held in Davos in Switzerland.
WEF – world economic forum
Established in 1995 to help to facilitate world trade.
WTO – World Trade Organisation
