International Communication & Globalization Flashcards
what are the 3 myths of globalization?
- Inevitability
- Freer trade
- Alleviates Global Poverty
Elaborate on inevitability/progress as a myth of globalization (2 factors)
- globalization is cyclical, by taking a historical perspective you’ll find it’s not inevitable
—–global trade was more integrated between 1880-1910
—–if you only go back to 70s you’d think it’s inevitable but if you go back farther you’ll see the opposite - globalization is not a natural process, it is a set of policies made by people
Elaborate on freer trade as a myth of globalization (3 factors)
globalization is more restricted than ever
- increase in non-tariff barriers (some import & export taxes are being eliminated but other barriers are being put up)
2.international trade bodies increase trade barriers
3.”free trade” deals are not about free trade but rather it is about the right of high up people to do business the way they want
Elaborate on the alleviation of global poverty as a myth of globalization (3 factors)
in reality, globalization increases global poverty
- increased inequality
—– if the pie gets bigger, everyone gets more even though the pie distribution between wealthy & working class is uneven - slowdown of economic growth
—–when you look at places that have vigorously applied globalization policies, you see an unequal distribution of a pie that hasn’t grown much - decrease in life expectancy
what is new about this round of globalization? (1970s-now)
- FDI
- MNC’s
3.New international orgs (World Bank, IMF, EU)
FDI as new in this round of globalization (1970s-now): meaning & why it’s risky
- it is the acquisition of foreign assets without the mediation of local governing bodies
—–risky for those receiving the investment as what is done with the capital is governed by the person investing it
FDI as new in this round of globalization (1970s-now): 4 characteristics & consequences
- lucrative (since middle man of investment is taken out)
- dependence of investment (can be successful for both players but risky when a country is dependent on it)
- outflow of wealth (a large reason why there are poor & wealthy countries is b/c the poor countries are subsidizing on wealthy countries instead of investing it in their own country)
- restructure economies (powerful corps coming into the country & fully restructuring it)
—–ex. US FDI in Guatemala in the 1950s resulted in state depression, displacement and poverty
MNC’s as new in this round of globalization (1970s-now): meaning & impact
- Multi National Corps
- Most of the people who are doing FDI are MNC’s
- The largest 100 MNCs hold 40% of all foreign assets
New international organizations (WB, IMF, EU) as new in this round of globalization (1970s-now): meaning & John Lock
- a set of global rules that facilitate FDI & empower MNC’s to have unrestricted access to labour and resources in virtually every corner of the world
- new organizations (World Bank, IMF & the EU) & new trade agreements (NAFTA, FTAA)
- John Lock believed in limited gov & minimum state intervention
New international organizations (WB, IMF, EU) as new in this round of globalization (1970s-now): World Bank model for economic growth (4 aspects)
1.low wages (the lower the wages, the more favourable FDI is)
- high levels of foreign investment
- low taxes (low taxes that companies need to pay in the country)
4.minimal spending on public services (it creates an opportunity for FDI and consumer spending - why have a great public transit system b/c then no one will buy cars and need to pay for car fixes)
What is capitalism & what are the related modes of production?
- what is capitalism?
—how a society organizes its production
—how a society reproduces itself
—social formation
2.related modes of production?
—central role of the market
—commodification of labour
—class structure where production & distribution are privately owned by a class of employers that buys and directs working class labour that has no means of survival other than to sell its labour
what are the 3 defining features of capitalism?
- role of the market
— under capitalism, all products are made for the market & all consumption is taken from the market
— what is new about markets?
—–new extent (markets existed in the past & did have goods & services but not to the same extent
—–new form of mediation (markets mediate all production & consumption // prior to markets there was no recession or depression) - commodification of labour
—people’s activity is bought & sold
—people as owners of their own labour
—commodification of labour is key, can’t have capitalism otherwise - class relations
—class is not a market of wealth but a relationship between people, it happens when a group of people monopolize the assets & make others work more (working class) so they don’t have to (wealthy)
— competition among buyers & profit maximization (speeding up the pace of life)
what are the 6 tendencies/predictions of capitalism?
- technological development
—improved means of production
— competition - increasing rate of surplus-value (excess value produced by workers)
—reduce wages
—increase length of working day
—speed up time (night shifts) - commodification
—value doesn’t come from things, it’s something we impose on it
—new orientation to the world (everything is a potential commodity)
—commodification of essential resources - new markets
—globalization & war
—opening new markets in new countries - increasingly unequal distribution of wealth
—rate at which inequality is happening is faster
—so much wealth on one side which skews the entire political system - disruption of biosphere
—clash of interests between capital & biosphere
—competition among buyers of labour
—no one is in control
what name is related to international communication & globalization?
jim stanford
