Globalization Flashcards
1
Q
Globalization
A
- shrinking of the world (more entangled)
- countries interconnected politically, economically and culturally
- travel and migration
- communication
- time-space comprehension
2
Q
Economic Interconnectedness
A
- World Trade Organization (WTO)
- International Monetary Fund (IMF)
- World Bank
3
Q
Top-Down Globalization
A
- capitalism
- financial capital (casino capitalism)
- Neo-liberal economic policy
- critique: subprime mortgage crisis in US = global recession
- free trade agreements
- political and economic establishment
- advertising/branding
4
Q
Subprime Mortgage Crisis
A
- housing values declined, interest rates increased, leading to an increase in mortgage delinquencies and foreclosures
- subprime mortgages were held as securities for many financial firms
- decline in capital, credit-tightening, and global recession resulted
- good example of what is wrong in Neo-liberal economic policy
5
Q
Anti-Globalization
A
- bottom-up globalization, alternative globalization, global social justice movement
- democracy, equality economic and environmental sustainability, critique of american hegemony
- anti Neo-liberal economic policy, fair trade, anti consumerism
6
Q
Fair Trade
A
- fair wage to meet survival needs
- fairness off working conditions and wages across the world
- economic benefits
7
Q
Anti-Establishment (democratic deficit)
A
- economic elites should be listening to the people: we have less political power and influence, leaders are less likely to listen to the people rather than head of organizations
8
Q
Anti-Consumerism
A
- problematic for environment, reinforces capitalism
- say we consume so much that it is not consumable for our planet
- small percent of the world’s population consume most of the world’s resources
- what would happen if the other 80% started consuming the same that we consume?
- ex. Culture jamming (billboards)
9
Q
Life and Debt: Structural Adjustment Policies and Jamaica (documentary)
A
- a lot of workers have extremely low wages
working conditions are difficult - they think “some jobs are better than no jobs”
- it is different than the Jamaica that tourists see
a lot of poverty, violence, etc
