GE3 huhu Flashcards
Usually pertains to the integration of national markets to a wider global market signified by an increase in free trade.
Globalization
Refers to the act of opposing trade deals among countries facilitated and promoted by international organizations such as the World Trade Organization (WTO).
Anti-globalization
Focus on the discovery of the existence of the world and its composition. “cosmocentric period”
Ancient Period
Focus on God and the Church as the source and pinnacle of intellectual discussion and development. “theocentric period”
Medieval Period
focuses on man as the center of all intellectual discussion. “anthropocentric period”
Modern Period
focus on the society and everything around it. “Holistic period”
Contemporary Period
“the expansion and intensification of social relations and consciousness across world-time and across world-space”
Globalization
Who said that Globalism, seeks to describe nothing more than a world which is characterized by networks of connections that span multi-continental distances. It attempts to understand all the inter-connections of the modern world.
John F. Kennedy
Who said that Globalization is the expansion and intensification of social relation and consciousness across world-space and world time.
Manfred Steger
refers to “both the creation of new social networks and the multiplication of existing connections that cut across traditional political, economic, cultural, and geographic boundaries.”
Expansion
Refers to the expansion, stretching, and acceleration of these networks. Not only are global connections multiplying, but they are also becoming more closely-knit and expanding their reach.
Intensification
It is crucial to insist that “ _________ ” as a process refers to a larger phenomenon that cannot simply be reduced to the ways in which global markets have integrated
“globalization”
_______multiple globalizations. _________ central thrust of viewing globalization through various lenses
Appadurai’s
For anthropologist _________ , different kinds of globalization occur on multiple and intersecting dimensions of integration which he calls “scapes.”
Arjun Appadurai
Some scholars have found it simpler to avoid talking about globalization as a whole. Instead, they want to discuss “__________ ,” not just one process.
“multiple globalizations,”
Ethnoscape
Refers to the global movement of people.
Is about the flow of culture
Mediascape
Denotes the global circulation of money
Financescape
Refers to the circulation of mechanical goods and software
Technoscape
Is the realm wherein political ideas move around
Ideoscape
IMF meaning
International Monetary Fund
Regards “economic globalization” as a historical process representing the result of human innovation and technological progress.
International Monetary Fund
Its role is to reduce poverty by lending money to the governments of its poorer members so that they can improve their economies and the standard of living of their people.
The World Bank
Is an international development organization owned by 189 countries.
The World Bank
Is the oldest known international trade route.
Silk Road
It had a network of routes that connected different parts of the ancient world from China to what is the Middle East today and to Europe.
Silk Road
It was considered international, it was not exactly “global”, as it did not include routes to the American continents, thus, this results in the question: “when did full economic globalization start?”
Silk Road
was a global trade system that had multiple restrictions.
Mercantilism
________ took place during the age of mercantilism.
The Galleon trade
Year that Establishment of the galleon trade that connected Manila in the Philippines and were directly connected to Asian trading routes.
1571
made the trade easier but nonetheless an extremely limiting system because it required governments to back their currencies with set gold reserves.
- Gold standard
which significantly depleted government resources, which led to the difficulty of going back to a pure standard.
Great Depression
Claimed that government’s practice of injecting cash into their economies has caused inflation by increasing demands for goods without necessarily increasing supply.
Milton Friedman & Friedrich Hayek
creation of new networks and the multiplication of existing connections that cut across traditional, political, economic, cultural and geographic boundaries.
Expansion
the expansion, stretching, and acceleration of global networks. Going deeper into the connection between nations by creating agreements and friendship.
Intensification
a state or nation befriend other state or nation which gradually result to a more concrete and stabilize relationship.
Social relation
awareness and knowledge of the capabilities and strategies of other state or nation in order to protect his/her own.
Social Consciousness
no boundaries and can be given to other state or nation, allies or not.
World-space
no time limit, globalization happens 24 hours a day and seven days a week.
World-time
What are the 5 major scapes
Ethnoscape
Ideoscape
Mediascape
Technoscape
Financescape
refers to people that move around in the world, as well as the ideas that move with them, and the impact such motion has.
Ethnoscape
refers to the flow of ideas, particularly the political ideas.
Ideoscape
refers to the flow of media across borders and the flow of culture.
Mediascape
refers to the movement of all sorts of technology across worldwide boundaries.
Technoscape
refers to the flow of money across countries and nations
Financescape
is characterized by the increasing integration of economics around the world through the movement of goods, services, and capital across borders.
International Monetary Fund
allows countries to expand their markets for both goods and services that otherwise may not have been available domestically
International Trade
a trade road which connects each part of Asia; goods trading is between countries. It is the oldest international route.
Silk Road
the worst and the longest recession ever experienced by western world.
Great Depression
means the investments are moving all over the world at faster speeds
increased trade
argues that the recovery of the United States really began when, having abandoned the gold standard, the US government was able to free up money to spend on reviving the economy
Barry Eichengreen
currencies that are not backed by precious metals and whose value is determined by their cost relative to other currencies.
Fiat Currency
Two Financial Institutions
*International Bank for Reconstruction and Development (IBRD, or World Bank)
*International Monetary Fund (IMF) –
the global lender to prevent individual countries from spiraling into credit crisis.
International Monetary Fund (IMF)
responsible for funding postwar reconstruction projects
International Bank for Reconstruction and Development (IBRD, or World Bank)
contemp0rily used to refer to market-oriented reform policies such as “eliminating price controls, deregulating capital markets, lower trade “barriers” and reducing state influence in the economy, especially through privatization and austerity.
Neoliberalism
Dominated the economic agenda and it was assumed that these stimulus policies would lick-start the recovery by replacing lower private spending and marshalling idle resources.
Keynesian Orthodoxy
is a sustained increase in the general price level of goods and services in an economy over a period of time.
Inflation
is a prolonged annual stagnant growth, and is highlighted by periods of high unemployment period of little or no growth in an economy. Economic growth of less than 2% to 3% and involuntary part-time employment.
Stagflation
refers to the exploration and process of attainting deep interactions and collaboration with other states. It basically answers the “How Globalization is done”.
Interaction between states
Internationalization
a set of 10 economic policy prescription considered to constitute the standard reform package promoted for crisis-wracked developing
Washington Consensus
the system used in internationalization in order to achieve international relation. Answers the “What, When and Where” of globalization.
Internationalism
is a body of government.
It is what makes a country run from a political, practical standpoint
State
is the goal of internationalization and globalization, in a sense. Primarily, the reason behind the act or it answers the question “Why” of globalization.
International relations
A large body of people united by common history, culture or language, inhabiting a particular country or territory
Nation
The idea that people of a nation are connected to each other is called ____
nationalism
a geographic area belonging to or under the jurisdiction of a governmental authority. An administrative subdivision of a country.
Territory
is the status of an individual due to which he enjoys civil and political rights in the state and is ready to fulfill his obligations.
Citizenship
the institution in which the state maintains social order, provides public services, and enforces decisions that are binding on all people living within the state
Government
the legitimate and ultimate authority over a polity.
Sovereignty
is a system of organization in which people with common identity live inside a country with firm borders and a single government, commonly called as COUNTRY.
Nation State
a system of heightened interaction between various sovereign states, particularly the desire for greater cooperation and unity among states and people.
Internationalism
Two broad categories:
Liberal Internationalism
Socialist Internationalism
People do not want war. Instances come that war will exists but to prevent war, it is necessary to promote democratic political systems and the principle of self-determination.
Liberal Internationalism
NOTABLE people in Liberal Internationalism
- Immanuel Kant
- Jeremy Bentham
- Giuseppe Mazzini
German philosopher and the first major thinker of Liberal Internationalism around the late 18th century. He wanted to establish a continuously growing state consisting of various nations which will ultimately include the nations of the world. He wanted a form of global environment.
Immanuel Kant
British philosopher who coined the world international around 1780. Advocated the creation of “international law”. He believed that objective goal legislators should aim to propose legislation that would create “the greatest happiness of all nations taken together”
Jeremy Bentham
An Italian patriot, and the first thinker to reconcile nationalism with liberal internationalism around the 19th century. Proposed a system of free nations that cooperated with each other to create an international system.
Giuseppe Mazzini
- a national internationalist
- influenced the thinking of the United States President Woodrow Wilson and became one of the 20th century most prominent internationalist.
Giuseppe Mazzini
Made the principle of Self-determination; the belief that the worlds nation had a right to a free, sovereign government. He saw nationalism as a prerequisite for internationalism.
Woodrow Wilson
Most notable advocate for the creation of League of Nations.
Woodrow Wilson
These are the following ultra-nationalist that had an instinctive disdain for internationalism and preferred to violently impose their dominance over nations.
League of Nations
Axis Powers
- GERMANY
- ITALY
- JAPAN
Allied Powers
- USA
- GREAT BRITAIN
- FRANCE
Mazzinis biggest critics Internationalist, did not believe in nationalism. He divided the world into classes.
* Capitalist
* Proletariat
Karl Marx
Died in 1883
______ followers established this international organization.
Karl Marx
- Leader of the Bolshevik Party
- Union of Soviet Socialist Republics (USSR)
- Communist International (Comintern)
Vladimir Lenin (Replaced Czar Nicholas II)
- Dissolved the Comintern in 1943
- Established Communist Information Bureau (Cominform
Joseph Stalin (Replaced Vladimir Lenin)
Achievements;
- Declaration of May 1 Labor Day
- Creation of International Women’s Day
Karl Marx
refers to the increasing interconnectedness and interdependence of countries through the exchange of goods, services, information, and ideas. It has significantly impacted various aspects of societies worldwide.
Globalization
is a complex phenomenon that occurs at multiple levels. It is an uneven process that affects people differently.
Globalization
Because of the nature of Globalization, we cannot give one definition of it as a whole. It is not just one process, rather _________
“multiple globalizations”.
is a complex process that involves the cooperation of people around the globe to make advancements in technology, communication, and transportation, making the world more closely connected economically, culturally, and socially.
Globalization
Apart from the sheer magnitude of commerce, we should also note the increased speed and frequency of trading. These days, supercomputers can execute millions of stock purchases and sales between different cities in a matter of seconds through a process called
“High-frequency trading”.
Historians _______ and _________ stated that Globalization began when “all important populated continents began to exchange products continuously both directly and indirectly via other continents.
Dennis O. Flynn and Arturo Giraldez
international monetary conference is in??
in Paris
An economic historian named _______ said that the US began to recover when it abandoned the gold standard. Though more indirect versions of the gold standard were used until as late as the 1970s, the world never returned to the gold standard of the early 20th century.
Barren Eichengreen
This active participation of Governments in managing economic crises became the foundation for what would be called a system of ________
Global Keynesianism.
its main purpose was to reduce tariffs and other hindrances to free trade.
General Agreement on Tariffs and Trade (GATT) in 1947
On October 6, 1973, hoping to win back territory lost to Israel during the third Arab-Israeli war, in 1967, Egyptian and Syrian forces launched a coordinated attack against Israel on Yom Kippur.
yom kippur war
The theory went that, as prices increased, companies would earn more, and would have more money to hire workers.
keynesianism
In the early 1970’s, however, the prices of oil rose sharply as a result of the OAPEC’s imposition of an embargo in response to the decision of the US and other countries to resupply the Israeli military with the needed arms during the Yom Kippur War.
The bretton woods system
a decline economic growth and employment
Stagnation
_______ is contemporarily used to refer to market-oriented reform policies.
Neoliberalism
Economists such as________ and ________ argued that the governments’ practice of pouring money into their economies had caused inflation by increasing the demand for goods without necessarily increasing the supply.
Friedrich Hayek and Milton Friedman
The____________, which emerged in 2008, posed a significant challenge to the tenets of neoliberalism and led to a reevaluation of economic policies around the world. Neoliberalism, characterized by a belief in free markets, limited government intervention, and deregulation, faced criticism as the financial crisis unfolded.
Global Financial Crisis (GFC)
The WTO-led reduction of trade barriers, known as __________ , has profoundly altered the dynamics of the global economy.
trade liberalization
The phrase “_____________ ” refers to the countries’ lowering their labor standards, including the protection of workers’ interests, to lure in foreign investors seeking high profit margins at the lowest cost possible.
“Race to the bottom”
is the phenomenon in where interactions between states deepen.
Internationalization
*First, there are independent countries or states that rule themselves.
*Second, these countries communicate with one another through diplomacy.
*Third, there are international institutions that enable these interactions, such as the UN
*Fourth, international institutions take on lives of their own in addition in enabling meetings between governments.
four major characteristics in today’s world politics.
An individual group of people who see themselves as connected by things like ethnicity, religion, history, culture, language, and other various factors.
NATION
Benedict Anderson in his book ‘Imagined Communities: Reflections on the Origin and Spread of Nationalism’ stated that a nation is an “___________” as its members do not know each other personally.
“imagined community”
The desire for increased cooperation and solidarity among states and people is called “________”
“Internationalism”.
The _________ system refers to the network of highways and roads that connect different states within a country.
The Interstate system
advocates global solidarity among workers, emphasizing common struggles against capitalism and imperialism.
SOCIALIST INTERNATIONALISM
is an approach based on the belief that nations can achieve their common goals through increased interaction and cooperation
LIBERAL INTERNATIONALISM
is the expansion and intensification of social relation and consciousness across world-space and world-time
GLOBALIZATION
War between catholic and protestants
Religious Was
Term use from Treaty of Westphalia
Westphalian System
a set of agreement signed in 164 to end the thirty years between the major continental powers of Europe.
Treaty of Westphalia
French military leader and emperor and challenged the Westphalian System
Napoleon Bonaparte
Lasted from 1803-1815
Napoleonic War
(French civil code)
*Forbade privilage based on birth
*allowed freedom of religion
*promoted meritocracy in government services
Napoleonic Code
Anglo and Prussian armies defeated Napoleon in 1815
-To prevent another wars
Battle of Waterloo
UNCTD
United Nation Conference on Trade and Development
Millions stock purchases and sales between different cities.
High-frequency Trading
WTO
World Trade Organization
New organization to continue the tariffs reduction
World Trade Organization
took place during the age of mercantilism
The Galleon Trade
The idea that class solidarity is more powerful and political significant than national identity
Socialist Internationalism
In short, Internationalization
PROCESS
In short, Internationalism
SYSTEM
In short, International Relation
Goal
To mitigate the risk of these loans, banks that were lending houseowners’ money pooled these mortgage payments and sold them as _________
MORTGAGE-BACKED SECURITIES
International development Organization and its role is to reduce poverty by lending money
THE WORLD BANK
It adopted this currencies since gold reserves is limited in Europe
Floating Currencies
Greatly Influenced the Bretton Woods system
John Maynard Keynes
Economic crises became the foundation for what be called a system
Global Keynesianism
Proponents (politicians)
NEO
•RONALD REAGAN of united states
•MARGARET THATCHER of united kingdom
Central tenet of Globalization
International Economic Integration
The entire Christian World
Christendom
According to him, Nation is an “Imagined Community”
Benedict Anderson
Provides stability for the nations of Europe until it faced its first major challenge by hapolean Bonaparte
THE WESTPHALIAN SYSTEM
Which forbade birth privileges, encouraged freedom or religion
NAPOLEONIC CODE
WHO (armies) defeated Napoleon in the Battle of Waterloo
ANGLO SND PRUSSIAN
A new system to prevent another war and in restored the Westphalian system.
Concert of Europe
Alliance of “Great power” and holds significant influence over world “politics”
Concert of Europe
What policy pushed for minimal government spending to reduce government debt and called for the privatization of government-controlled services like power, water, communications and transport?
mWASHINGTON CONSENSUS
The system also known as the congress system
Metternich System
Overthrown and replaced by a revolutionary government
Czar Nicholas II
was a union of European socialist and labor parties established in Paris in 1889
Social International
