all

Question 1

ideology

Answer 1

a socially constructed set of beliefs that become ingrained through process of naturalisation e.g. race is an ideological construction

Question 2

globalisation - project

Answer 2

ideological project that promotes the benefit for all of free trade and global integration

Question 3

globalisation - process

Answer 3

the inexorable process of expanding global interconnection

Question 4

Imperialism

Answer 4

expanding power through territorial domination and influence - often military

Question 5

cultural imperialism

Answer 5

domination of a hegemonic culture through media + values erasing existing local culture.

Question 6

race

Answer 6

audrey smedley define race as a socially constructed ideology free from biological/genetic variation. This does not deny the existence of biological race but the contemporary understanding of race originated to justify slavery

Question 7

magnificent african cake

Answer 7

king leopold of beligium. implication that africa was a valuable resource that eurpoeans should exploit for their own benefit

Question 8

naturalisation

Answer 8

process by which ideologies become socially engrained

Question 9

white supremacy

Answer 9

ideological construction which poses other races as other or in opposition to whiteness - naturalised belief of white people being inherently superior/more civilised

Question 10

the white man’s burden

Answer 10

popularised by Rudyard Kipling. implication that it is the moral duty of the west to civilise non western, non white nations. justification for imperialism

Question 11

colonialism

Answer 11

political social economic and cultural domination of a territory by a foreign power for an extended time. also a set of beliefs to justify this domination

Question 12

Neocolonialism

Answer 12

continuation of colonial power over formerly colonised or “less developed” nations. often indirect methods of domination e.g. economic reliance, geopolitical influence, cultural imperialism

Question 13

Economic Liberalism

Answer 13

ideology or economic policy that favours limited government intervention and free markets

Question 14

Adam Smith

Answer 14

Laissez faire capitalism - minimal govermnent intervention = market prosperity
invisible hand - idea that individuals pursuing self interest in a competitive market contribute to society’s overall wealth
devision of labour leads to economic productivity

Question 15

Marx

Answer 15

alienation/estrangement - the division of labour causes workers to be estranged from the products of their labour, other workers, and themselves

Question 16

the problem of value

Answer 16

how to define the value of something. use value = utility of a commodity. price value = value in relation to other commodities. in capitalism, the pursuit of profit drives the favouring of price over exchange.

Question 16

labour theory of value

Answer 16

smith - the value of a commodity is defined by the amount of labour required to produce it (among other factors)
marx - uses LTOV to critique capitalism. workers create value through labour but receive only a fraction of it through labour. capitalism functions by exploiting this ‘surplus labour’ as profit

Question 17

the myth of the self regulating market

Answer 17

erroneous belief that the economy can be separated from social & cultural factors

Question 18

The Great Transformation

Answer 18

transformation of to becoming market society

Question 19

dis/embedded economy

Answer 19

economy being embedded in society to vice versa

Question 20

market society

Answer 20

socioeconomic system in which the maket is the driving force (soc embedded in economy not vice versa). effects: commodification of land labour & money, self-regulating markets, disembedded economy

Question 21

Fictitious commodities

Answer 21

land, labour, money
Gradually removed from their social & cultural contexts and become commodified. land (enclosures), labour (wages), money (becomes universal means for exchange)

Question 22

enclosures

Answer 22

parliamentary act that “created” private property

Question 23

Homoeconomicus

Answer 23

belief that humans act solely out of rational economic self-interest

Question 24

Primitive accumulaion

Answer 24

violent historical process through which people are forced to labour. enclosures, rent, labour. marx - how capitalism emerged, polanyi - initial stages in creation of fictitious commodities

Question 25

externalities

Answer 25

cost/benefit incurred by a non-consenting third party

Question 26

externalising machine

Answer 26

built to profit by externalising costs

Question 27

development discourse

Answer 27

belief that people can de developed/underdeveloped based on western hegemonic ideas of development (truman point four)

Question 28

Neoliberalism

Answer 28

political & economic ideology that calls for deregulation - reduced regulation on the flow of goods, liberalisation - open markets, reduce trade barriers, privatisation - of national institutions

Question 29

Bretton Woods Conference

Answer 29

gethering of 44 nations in in 1944
establishes all currencies linked to the dollar + the dollar to gold
IMF, WB, WTO later

Question 30

SAPs

Answer 30

enforcement of neoliberal ideology. set of economic reforms that a nation must adhere to in order to secure a loan from the WB or IMF. advocate montary & fiscal austerity, trade liberalisation, privatisation

Question 31

TINA/ GS/ WC

Answer 31

promote that neoliberalism leads to prosperity

Question 32

nationalism

Answer 32

identification with national interest

Question 33

nation state

Answer 33

joining of commmon bounded territory with the political structure of the state

Question 34

immagined community

Answer 34

modern nations are socially imagined entities. made possible through shared symbols, media, collective imagination

Question 35

Friedman

Answer 35

capitalism & freedom. individual liberty & limited government intervention

Question 36

Keynes

Answer 36

active role of the state. in the case of a recession, government should use fiscal and monetary stimulus

Question 37

Hayek

Answer 37

neoliberalism. Limited government involvement. fiscal and monetary austerity - allow market forces to operate

Question 38

Keyensianism

Answer 38

pro-government involvement in the economy