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Political Economy > Lecture 5 > Flashcards

Lecture 5 Flashcards

1
Q

What are the perspectives on (global) production?

A
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2
Q

What does TNC mean?

A

Trans[N]ational Corperation

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3
Q

When did transnational production rise?

A
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4
Q

How did the modern TNC rise up?

A
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5
Q

What was the role of US hegemony in the rise of TNC?

A
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6
Q

What did the collapse of the Bretton Wood system change? Why was this unexpected?

A
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7
Q

What led to growth in TNC’s?

A
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8
Q

What is the key measure of globalization of production?

A
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9
Q

What has happend to the growth of FDI (Foreign Direct Investment)?

A
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10
Q

What is GVC?

A

Global Value Chains

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11
Q

What is the definition of GVC? By whom?

A
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12
Q

What are questions regarding GVC’s governance? Wha are questions regarding accountability?

A
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13
Q

What are questions about TNC’s regarding power?

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14
Q

Why has the power of capital increased?

A
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15
Q

What might globalization cause?

Regarding the economy obv.

A
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16
Q

What are an additional sources of power of TNC’s?

Name two

A
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17
Q

What does ISDS stand for?

A

International State Dispute Settlement

18
Q

What can ISDS do?

A
19
Q

What are questions regarding a borderless economy?

A
20
Q

How do companies use tax havens?

A
21
Q

What are signs of steps towards deglobalization?

A
22
Q

What are now most of the worlds exports?

i.e. what types of goods

A

Intermediate goods

23
Q

What are some mercantilist concerns about global production?

A
  • It is destroying local production and driving down wages of blue-collar workers.
  • Because production isn’t local anymore there could be less innovation
24
Q

What is insourcing?

A

The idea that local companies have an incentive to bring some manufacturing back to their origin, because local worker costs have dropped.

25
Q

How do TNC’s affect competition?

A

Many TNC’s have been involved in mergers, these have reduced competition

26
Q

What is an alternative name for GVC?

A

Global Production Network (GPN)

27
Q

What is BPO?

A

Business Process Outsourcing

28
Q

What is the Multilateral Agreement on Investment?

A

It was an agreement that intended to create a regime to govern FDI in the same way the WTO organizes trade. I.e. if a TNC invests in a local subsidiary, it should be treated the same as a local business.

29
Q

What is the intened goal of an ISDS?

A

If companies are not treated fairly by local courts they can dispute those decisions there.

30
Q

Why are ISDS controversial?

A

Countries lose some sovereignty and because disputes are resolved through arbitration decisions are not always public.

31
Q

How do have TNC’s have leverage over states?

A

Because they can invest in many places they force governments to compete to get their investment.

32
Q

What is tax inversion?

A

A company merges with a smaller/largely non-existent company in a low tax country.

33
Q

What is BEPS? What does it stand for?

A

Base Erosion and Profit Shifting, TNC artificially shift profits to low tax countries.

34
Q

Who are most critical of TNC’s?

A

Structuralists

35
Q

What are some alleged consequences of globalization?

A

More inequality and less people working on long term contracts, locally, but also internationally.

36
Q

How do strcuctualist scholars look at this increasing globalization?

A

They believe that this increases exploitation of workers, however now also internationally

37
Q

What are SWFs?

A

Sovereign Wealth Funds

38
Q

What is Socially Responsible Investing?

A

An investment method where people separate themselves from illegal markets by putting their money in investments funds that avoid companies or countries that are perceived as socially or environmentally unethical

39
Q

How are illicit activities often combatted? Why is this ineffective?

A

Politicians often go after the supply side, since this would not affect their own citizens. However this often has unintended consequences, i.e. a balloon effect.

40
Q

What is the restriction-opportunity dilemma? How is it also often called?

A

The more you try to ban something, the more profitable it becomes, thus thereby incur aging even more criminal activity, a.k.a. The profit paradox.

41
Q

What is the flag of convenience? What is meant by commercialization of sovereignty? How are these connected?

A

Flag: register somewhere where national governments have no interest in proper behavior
Sovereignty: renting out commercial privileges and protections to citizens and companies from other countries.

42
Q

What are know-thy-customer rules and name-and-shame campaigns? How are they connected?

A

1: screen customers, 2: attention to illicit and unethical activities. Used to create new norms.

Political Economy (11 decks)

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