General Facts & Definitions Flashcards
Define power.
The ability to influence others, through economic, political or military strength. Power can also be projected through culture.
Define hegemony.
The predominant influence, as of a state, region or group, over another or others.
What is colonialism?
The acquisition of, development and settlement of territory by another country.
What is neo-colonialism?
The control of the economic and political systems of one country (usually a developing one) by a more powerful one (usually a developed one).
Define consumerism.
The belief that wealth and the ability to buy goods and services leads to happiness.
Define capitalism.
The belief that production should be determined by private decisions rather than by state control.
What is a reserve currency?
A strong currency widely used in international trade that a central bank is prepared to hold as part of its foreign exchange reserves.
What is a super power?
A very powerful and influential nation. ‘A country that has the capacity to project dominating power and influence anywhere in the world, and sometimes, in more than one region of the globe at a time.’ - Alice Lyman Miller
How did Kwame Nkrumah describe neo-colonialism in his book ‘Neo-colonialism, the Last Stage of Imperialism’?
“It devises innumerable ways to accomplish objectives formerly achieved in naked colonialism.”
Name three things that were established in the Bretton Woods conference, New Hampshire in July 1944.
- The IMF
- The World Bank
- Gold Standard (later replaced by the US dollar as the international reserve currency.)
What proportion of global royalties and license fees does North America receive?
1/3
What percentage of financial services does Europe export?
Approx. 65%
List 4 problems with IGOs.
- Dated
- Decision making is slow
- Expensive to maintain
- USA bias
How much will global car numbers increase by if the demand becomes half as popular in China or India as it is in the USA?
They’ll double.
Define the Hubbert Peak theory.
The point when the maximum rate of extraction of petroleum is reached, after which it is expected to enter terminal decline.
