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SOC 236 Review Notes.docx

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University of Toronto Mississauga
Josee Johnston

SOC 236 Review Notes for Essay Test Lecture 2 Is globalization good or bad? Good: Brings liberal values and capitalist markets through out the globe Tends to be supported by business people, religious missionaries, and those with faith in global consumerism Bad: Brings liberal values and capitalist markets through out the globe Tends to be criticized by activists, supporters of local economies, those critical of global capitalism and US hegemony David Harvey (a British geographer)s concept: Space-time compression: Describe the speeding up of social life under globalization, and the diminished significance of geographic space (less relevant) Capitalism: An economic system in which the means of production are privately owned and controlled and which is characterized by competition, the profit motive, markets, and growth. Globalizations impacts: Citizens and States: sovereignty challenged by transnational organizations (eg, IMF, World bank, WTO, the United Unions (UN) and TNCs () in neo-imperial relationships Consumers: consume long-distance goods; homogenous global culture; glocalization Laborers: Transnational migration; job losses in a competitive global labor markets; the race to the bottom. . Capitalists: Transnational corporations (TNCs) develop global assembly lines Globalization from Above (Top-down global capitalism) Believe global capitalism is working well, even if it requires a few minor adjustments. Promotes a policy package known as neo-liberalism Neo-liberalism globalism =the idea that neo-liberal policies are the best policies for all countries. Globalization from Below: Critics of Global Capitalism Global justice movements Grassroots globalization Global solidarity movement Anti globalization movement Lecture 3: Competing Perspectives on Globalization Top-down: Privatization Deregulation banking, health center Follow same policies Forces of eco-social protectionism Below: Forces of eco-social protectionism Critics of Global Capitalism Bottom-up forces critical of: 1. US hegemony; Neo-imperialism 2. Poverty and Inequality 3. Reduced democracy 4. Environmental destruction Thomas Friedman: The World is Flat Thesis: We live in a globalized era where states matter far less and the principle engine of change is a leveled playing field for international trade. The Lexus and the Olive Tree Main arguments: -There is a fast world(Lexus) and a slow world(olive tree); the fast is squeezing out the slow. -Old-fashioned power politics (of the cold war) are on the way out Democracy & peace on the rise. Togetherness and integration Global Herd=global markets which are made up of millions of investors moving money around the world with the click of a mouse. Pankaj Ghemawat: Most economic activity still domestic 10% presumption Most connectivity is local; being wired does not necessarily mean being global Investment faces borders Integration is reversible Voters may want protectionism Technological determinism: a viewpoint that exaggerates the role of technology as a driver of change, and underestimates the interplay of technology with social factors (like state power) Lecture 4: Economic Globalization Theorist 1: Adam Smith Even though some are benefiting themselves, but collective outcome will be good. Invisible hands, no price fixing From their regard to their own interest Theorist #2: Marx Communist Manifesto (1848) Capital (1867) Agree Capitalism is productive Disagree invisible hand Believe Capitalism create social classes The class system in a Global system: -Individuals are not isolated beings, but are related to society through their position in the class system -The Proletarian ClassWorking classsell labor power; produce value for capitalists; thought to suffer from false consciousness -Petite Bourgeoisie (Middle class): help manage the capitalist system, but dont directly control the means of production. (eg., human resource managers; engineers; lawyers) -The Transnational (Capitalist Class): appropriate surplus value Capitalist Contradictions: -Growing divides between owners and workers -Continual crisis of profit for owners -Workers driven to the level of subsistence() -Greater solidarity and class-consciousness among workers GRAMSCI: The ruling class doesnt rule by force or coercion, but use culture and ideology to manufacture the consent of the working class. (Soft power, Convincing, Brain wash) Theorist #3: Karl Polanyi Great Transformation (1944)- Double movemen
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