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Flashcards in Midterm Deck (17)
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1

Mainstream

development economic growth and material satisfaction

2

Wilson’s 14 points

The Fourteen Points speech was a statement given to Congress on January 8, 1918 by President Woodrow Wilson declaring that WW1 was being fought for a moral cause and calling for peace in Europe.

3

Hyperglobalization

No to the government in the development of the country- government shouldn't be in charge of developing should be private

Development is about the free movement of goods, resources, and enterprises to find cheaper resources

The goal is efficiency in transactions for maximizing of profits. Creating efficiency and maximizing benefits. All about freedom

4

Sceptic

The skeptical thesis draws on divergence
Footloose industry is a general term for an industry that can be placed and located at any location without effect from factors of Production such as:
Resources, Land, Labour, Capital and Enterprise. ... Diamonds, computer chips and Mobile Manufacturing are some examples of footloose industries.

5

Transformationalist

Globalization goes in all different directions
Globalization must be understood in terms of its directions
Directions are unpredictable
Must see who are the agents of globalization, who are the winners, and are the looser

6

Washington Consensus

John Williamson (1989)
Washington Consensus
Fiscal Discipline
Reordering Public Expenditure Priorities
Tax Reform
Liberalizing Interest Rates

7

Globalization

Globalization can thus be defined as the intensification of worldwide social relations which
1) links distant localities
2) in such a way that local happenings are shaped by events occurring many miles away, and
3) vice versa

8

Neoliberalism

Regan
Margaret thatcher
Global is occurring and positive
Characterized by economic growth and democratic increase
Cut state spending
Expanding privatization
Pro capitalist
Reduces taxes
More competition

9

Basic human needs

Maslow
1954
Physical
Safety
Belonging
Self acualiaion
Beyond econ growth
Dev. is based on state of country at the time
social/cultural/political
Critiques:
Unrealistic
Hard for countries to go through the process

10

Dependency theory

Andre Gunder Frank
Systemic, structural, historical analysis of underdevelopment
A country’s position in international system is the key factor in its development
Countries are located either core or periphery
Countries reliant on others are underdeveloped

11

Harry Truman

(1949)
President of the USA
“I believe that we should make available to the peace loving peoples the benefits of our store of technical knowledge in order to help them realize their aspirations for a better life and in cooperation with other nations we should foster capital investment in areas needing development”

12

Modernization theory

Walt Whitman Rostow (1960)
All countries must follow a similar path to economic development

Western bias

13

world system theory

Wallerstein
Dependency is not caused by destruction
The mind of the people have been captured and colonized
Dependency must be seen by how the people think

Core
Periphery
Semi periphery

14

Washington Consensus

John Williamson (1989)
Washington Consensus
Fiscal Discipline
Reordering Public Expenditure Priorities
Tax Reform
Liberalizing Interest Rates

15

regulization theory

Dependency justified by regularization of social norms

16

globality

is the end-state of globalization
hypothetical condition in which the process of globalization is complete or nearly
barriers have fallen, and "a new global reality" is emerging

17

Five stages of modernization theory

Five stages:
-Modernization is the key in development
-Infrastructure installed by foreign investments (water, roads, etc)
-Necessary condition for economic growth
-Constant (self sustaining) economic growth
-High mass consumption