post midterm purple terms Flashcards
hyper-consumption
buying more than one can afford
hyper debt
owing more than one will be able to repay
sovereign wealth funds
funds controlled by nation-states that often invest in other countries
race to the bottom
countries involved in a downward spiral of competitiveness
supply chains
value-adding activities in the prod’n process beginning with raw materials and ending with a finished product
international production networks
networks of producers involved in producing a finished product
global commodity chains
value-adding chains, global industries, and the sellers of global products
global value chains
various phases of prod’n, delivery to the final consumers, final disposal
industrial upgrading
nation-states, firms, and even workers move from low-value to relatively high-value prod’n
outsourcing
transfer of activities once performed by an entity to a business(es) in exchange for money
offshore outsourcing
transfer of activities to entities in other countries
FDI - foreign direct investment
investment by a firm in one nation-state in a firm in another nation-state with the intention of controlling it
portfolio investment
purchase of equities in companies in other countries for financial gain, not control
Greenfield investment
building of totally new corporate facilities in another country
structural adjustment
conditions of economic ‘restructuring’ imposed by organizations such as the World Bank and the IMF on borrowing nation-states
MNCs
corporation that operates in more than 2 countries
trade related investment measures (TRIMs)
WTO agreement on trade measures gov’ts can impose on foreign firms
autarky
turn inward of a nation-state in order to become as economically self-sufficient as possible
trade related aspects of int’l property rights (TRIPs)
WTO agreement to protect the interests of those that create ideas
cultural differentialism
cultures tend to remain stubbornly different from one another
cultural hybridization
mixing of cultures leading to unique combinations
glocalization
interpretations of the global and the local resulting in unique outcomes in different geographic ares
hybridization
external flows interact with internal flows producing a unique cultural hybrid that combines their elements
creolization
combination of languages and cultures previously unintelligible to one another
cultural convergence
cultures are subject to many of the same global flows and tend to grow more alike
world culture
spread of global models leading to global convergence
isomorphism
a series of global models has led to a great uniformity throughout the world
mcdonalidization
process by which the principles of the fast-food restaurant are coming to dominate more of the world
grobalization
imperialistic ambitions of nation-states, corporations, and organizations, and their imposition throughout the world
nothing
social forms largely devoid of distinctive content
something
largely full social forms, those rich in distinctive content
non-places
setting largely devoid of distinctive content
non-things
objects largely devoid of distinctive content
non-people
those who occupy positions that lead them to be devoid of distinctive content at lest in those positions
non-services
services largely devoid of distinctive content