- monetary asistance provider(for groups, people or public interest)

- a market that thrives off of the ability to do things freely without being regulated . the government has little to no interference laissez faire capitalism

- Irish economist -can also be known as the father - Important works: wealth of nations invisible hand laissez faire government should leave the economy alone, in other words it is a free market

- Communist important works: communist manifesto - the workers are going to be the ones providing the goods, then the owners get and own everything Proletariat's VS Bourgeoisie

- Macroeconomics -spending in the economy affects employment unemployment benefits Governments should play a key role in their economies "in the long term we are all dead"

Globalization Flashcards by GRACE BABALOLA

What is Globalization

When a business, and other corporations expands to the point where it has international power

How well did you know this?

Not at all

Perfectly

What are the 3 p’s of Globalization

Phenomenon
- historical events that happen somewhere impact everywhere else
-intricate interconnectedness
philosophy
- People experiences converging
process
-eliminated political and geographical distances
-makes the world smaller
internet
we are able to go across borders like never before in history

How well did you know this?

Not at all

Perfectly

Top 5 country producers(as of 2010)

USA
-China
-Japan
-Germany
-Italy

How well did you know this?

Not at all

Perfectly

Interference

Hindering something from moving forward

How well did you know this?

Not at all

Perfectly

Regulation

Strict laws put in place
something being controlled

How well did you know this?

Not at all

Perfectly

Subsidy

monetary asistance provider(for groups, people or public interest)

How well did you know this?

Not at all

Perfectly

Freemarket economy

a market that thrives off of the ability to do things freely without being regulated . the government has little to no interference
laissez faire capitalism

How well did you know this?

Not at all

Perfectly

Closed market

Not open to business from outside and foreign countries ex: Latin America used to be a closed market until the 1980s

How well did you know this?

Not at all

Perfectly

How does oil trading affect the economy?

Oil trading is one of the most important things
supply and demand
the more people we have the more oil we need
-China, and India other places becoming more industrialized and urbanized, so there needed to be a significant increase in sales
Yom Kippur- happened I 1973
Iranian revolution1979
affects business shipping

How well did you know this?

Not at all

Perfectly

Adam smith

Irish economist
-can also be known as the father
Important works: wealth of nations
invisible hand
laissez faire
government should leave the economy alone, in other words it is a free market

How well did you know this?

Not at all

Perfectly

What is the concept of the invisible hand

yet even though the economy is moving, and people are free to make decisions, the invisible hand is there subconsciously. meaning that even though o=you make decisions yourself it is ultimately going to impact the economy in one way

How well did you know this?

Not at all

Perfectly

What book did Adam smith contribute

The wealth of nations

How well did you know this?

Not at all

Perfectly

Karl Marx

Communist
important works: communist manifesto
the workers are going to be the ones providing the goods, then the owners get and own everything
Proletariat’s VS Bourgeoisie

How well did you know this?

Not at all

Perfectly

John Keynes Maynard

Macroeconomics
-spending in the economy affects employment
unemployment benefits
Governments should play a key role in their economies
“in the long term we are all dead”

How well did you know this?

Not at all

Perfectly

Milton

Money growth so that the economy can be stable
Monetarist
in order for you to reap its benefits you have to put money in
Free to chose

How well did you know this?

Not at all

Perfectly

IMF

International Monetary Fund
1. oversee fixed exchange rates
2.promote convertibility
3.Lender of last resort

How well did you know this?

Not at all

Perfectly

What was the wolrd bank known as in the past

IBRD
International, bank for reconstruction and development

How well did you know this?

Not at all

Perfectly

What makes part of the international trade organuization in the present day

WTO
GATT

What does the World bank do?

-They enable people to borrow money
-Infastructure

What was the Marshall plan?

AN American plan that aimed to help a war torn Europe, and by helping them they get lots of money

jobs of GATT and WTO

Reduce national barriers

Stop competitive trade policies

Finally established in 1994 – called World Trade
Organization

150 member states

30 ‘observers’

The Bretton woods Trio

International Monetary Fund (IMF)

The World Bank

General Agreement on Tariffs and Trade

Name 5 big Corporations

-walmart
-Toyota
- Volkswagon
-Apple
state grids

Yalta conference

How they(US, UK, USSR) are going to reconstruct old Europe post war

Potsdam

Negation of how to end WW2

Isolation VS containment

meaning, that if you were in complete isolation, you put a stop to that then you start going into nation which prohibits other from getting involved The Americans get involved in: The Korean War the Vietnam war cuban misslie crisis The Afghan conflict

Dwight Eisenhower

-President -part of military

SIPRI

Stockholm International Peace Research Institute (SIPRI)

5 Forms of Human Trafficking

Pornorgraphy Organ Labour forced prostitution Servitude

Human trafficking cases in Ottawa?

-Over a seven year period 7 men have been arrested for zex trafficking from 2010-2020, 1 in every 10 police report to human trafficking

Methods of controlling the Victim

-Physical abuse -Sexual abuse Blackmailing Money branding

3 concepts of Sipri

1. US continues to be the worlds most dominant force 2. as if 2010, Middle East giant 10 times more weapons 3.india has more weapon imports

On the list of Big countries and economic entities where does Canada score

Canada is number 9th , right beforee Walmart

What lead to the stockpiling of weapons

1949 - USSR atomic bomb (announces it has entered the atomic age) - challenging American hegemony (USA no longer dominates world)

NATO - security alliance of 30 countries, safeguards freedom by military and political means NORAD - military command responsible for aerospace warning and control, commander is appointed by the Heads of Government of Canada and the United States DEW LINE - system of radar stations in the Northern Arctic region of Canada, shut down in late 1980s, increased connections between Inuit peoples and Canadian polity, provided economic development

SIPRI

Arms Trade tracker, records value of military imports Swedish (Stockholm)

Countries with high sex trafficking

Thailand (military state) A lot of prostitution; quick and easy money Not legal but mostly unprosecuted because people spend money which is good for the economy A lot of tourists Unstable government Military run Very poor population Ukraine (Former Soviet) Mono Economy Moldova (Former Soviet) Mono Economy Romania (Former Soviet) Belarus (Former Soviet) Nepal (Former British Raj and poor lmao) Libya (Former Ottoman/Italian/French/Brit colony also poor) A lot of people escaping the Middle East; easy targets North Africa; labour is a most popular form of trafficking

What do all the high sex trafficking countries have in common?

Poor Have relaxed government officials Poor Have trafficking be “illegal”

Ways victims fall into sex trafficking

Romeo/ Loverboy - A relationship that leads to blackmail and trafficking (Andrew Tate) Jobs - Promise of jobs and financial stability for families (Qatar World Cup controversy + UAE construction controversy) Modelling Industries - sussy business Exploitation - “Friends” bringing other friends into trafficking Buy them dogs and after forming an emotional attachment they beat the dog Saying they owe them money and make them “work” for it.

Ottawa is a HUB for sex trafficking in Canada

Between two major cities, Montreal et Toronto Girls (overwhelmingly) are transported between the three cities to be used while under the nose of law enforcement 10% of sex trafficking cases despite not holding 10% of Canada’s population (disproportionate) Indigenous communities most at risk

Ottawa holds_ percent of sex trafficking cases

10 percent

Trafficking

Someone will continue to profit off the transport of a certain good (mostly people) after “acquiring” them

Smuggling

illegally bringing goods or someone over a(ny) border A business transaction (you pay for someone/thing to be smuggled, and the deal is done) Think smuggling drugs over the borde

Which countries loaned money and are now in depth

Greece Germany