The Brand Commission Flashcards
(42 cards)
What was the main goal of the Brandt Commission?
To rethink global development and North–South relations, addressing rising inequalities and economic imbalances.
Who chaired the Brandt Commission?
Willy Brandt, former West German Chancellor and Nobel Peace Prize winner.
What historical events prompted the creation of the Brandt Commission?
The collapse of Bretton Woods and oil crises of the 1970s.
Who initially envisioned the idea for the Brandt Commission?
Robert McNamara, the World Bank president.
What does NIEO stand for?
New International Economic Order.
What is ‘Progressive Machiavellianism’?
A strategy of appearing benevolent to the Global South while protecting Northern interests.
How did Willy Brandt transform the Commission’s focus?
By making it more independent from the World Bank and emphasizing shared interests.
What was the composition of the Brandt Commission?
21 members — 11 from the South, 10 from the North.
What was Brandt’s vision for international relations?
A ‘Third Way’ approach focusing on neutrality and mutual understanding.
What did the Brandt Commission propose regarding global governance?
Structural reforms in trade and governance, avoiding structural adjustment programs.
What was the stance of the Brandt Commission towards multinational corporations?
It critiqued their role and called for regulation and reform of global systems.
What was the initial reaction of the G77 towards the Brandt Commission?
They were suspicious, fearing it would interfere with ongoing negotiations.
What ideological view did key corporate figures in the 1970s hold?
They believed global integration would occur through business, not political cooperation.
What does the term ‘vertical integration’ refer to in the context of MNCs?
Control over the supply chain from raw materials to production to sale.
What was the impact of MNCs operating outside regulatory reach?
It led to intra-company trade that avoided taxes and eroded welfare models.
What double bind did states face regarding MNCs?
Fear of regulation leading to disinvestment and ignoring Global South demands.
How did global discourse shift regarding development responsibilities?
From rights to duties, with an emphasis on making FDI attractive.
What critiques did Barnet and Müller offer about TNCs?
They undermined local demand, tax systems, and democratic accountability.
What was the response of the UN and ILO to TNCs’ controversial roles?
They tried to establish a Code of Conduct, but it remained voluntary and unenforceable.
How did TNCs reframe the narrative of interdependence?
They claimed that MNCs were solutions to global instability, justifying profit-seeking globalization.
Fill in the blank: The Brandt Commission aimed to create equity between the ______ and ______.
[Global North] and [Global South]
What event in 1971 ended the dollar’s fixed value to gold?
The collapse of the Bretton Woods system
This allowed the U.S. to print money freely.
What was the impact of the dollar beginning to float in 1973?
The dollar lost value, leading to inflation
Investors turned to commodities like oil and grain for stability.
Which countries benefited from the inflation caused by the dollar’s decline?
Grain-exporting countries like the U.S.
Poorer food-importing nations were hurt.