Module 6 - Globalization Flashcards
explain globalization
worldwide exchange of money, goods, and services with increasing trade and human contact
What are the three sources of globalization
Technological change
Political change
Economic change
why could globalization be bad?
rather than spreading wealth, globalized industries and technologies may be turning the world into a more unequal place. a hierarchy based on income levels. Ex. global north vs global south
what are we seeing about globalization?
there is a dramatic gap between rich and poor at a global level
what is a global commodity chain?
a worldwide network of labour and production processes whose end results is a finished commodity. ex. fast fashion - quick turn around to produce as much “trendy” clothing FAST
What is the modernizations theory?
says that economy underdevelopment results from poor countries lacking western attributes
Dependency theory?
countries that are lower in everything depend on high privileged countries. countries that are doing well could take advantage of the less fortunate countries so they ensure they grow their economic growth
Wallerstein 3 tiers of the “world system”? explain the world system theory
Core
Semi periphery
periphery
suggests there is a world economic system in which some countries benefit while others are exploited.
explain global culture
Global - equal flow back and fourth
Local - more local twist on things
Glocal - combination of the two (McDonalds being in Jamaica)
What could globalization lead to
it leads to the increasing sameness throughout the world
explain homogenization
a one way flow - things from the south not coming to us, but all of the things going down south. leading the world to becoming more americanized
George ritzet mcdonalization idea
increasingly efficient society. its more than just McDonalds, its the ideas and stuff within it that is running the economy. Get in and get out = more money. it is all calculated. ex. drive thrus or a few menu options
