The Nation-State, Globalization, and Neoliberalism Flashcards
5 Interconnected “Scapes”
- Mediascapes
- Ethnoscapes
- Financescapes
- Technoscapes
- Ideoscapes
Nation-State
A political community that has clearly defined territorial borders and centralized authority
State
A territory considered as an organized political community
Nation
A collection of people who share a common language, worldview and ancestry
Neo-Liberalism
An economic philosophy that argues for minimal government involvement in the economy and greatly accelerated economic growth
Common Characteristics of Neo-Liberalism
- Sustained economic growth as a means of achieving human
progress - Confidence in free markets as the most efficient allocation of
resources - Minimal state intervention in economic affairs
- Commitment to freedom of trade and capital
Market externalities
Costs that are not included in the prices people pay
Hidden costs
Environment, conversion, of wetlands, health effects, slave-like conditions on sugar plantations, poor wages of workers, profit for corporations, state subsiding cost, etc
Role of the Nation-State in Production-Consumption
1) Absorbing environmental damage costs caused by sugar production
2) Setting import quotas on sugar imports
3) Enacting unjust labour laws or facilitating the outsourcing of labour
4) Providing infrastructure for production and distribution of goods
5) Providing fuel subsidies that enable movement of goods
6) Reducing corporate taxes
Economic Systems
The rules, mechanisms, institutions, and systems of relations through which goods and services are distributed and people get what they want
Markets
Places where people bring their goods for sale or barter
Capitalism
An economic system in which private actor own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interest of society
Adam Smith
Believed the markets were self-regulating
Free Trade
Removal of barriers to the free flow of goods and capitol between nations
Nationalist Populist Movement
Forms of nationalism that represent a reaction against various forces or neoliberalism