POLA84 - Study Guide

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Political Science
Waldemar Skrobacki

POLA84 – Exam Terms 1. Bretton Wood System (Page 14) - Definition: A post-World War II arrangement for managing the world economy; its main components are the World Bank and the International Monetary Fund. - 1944, US, Britain and others held a conference at Bretton Woods, New Hampshire, to determine the international financial order (IFO) o Established the Bretton Wood System; required the currencies of other countries to have an exchange rate fixed to the dollar, with the dollar fixed in terms of gold at $35 an ounce. Giving the United States significant influence over the international money supply - Also set up the World Bank to help stimulate Europe’s economic recovery and the International Monetary Fund (IMF) to implement the rules of the international financial system to help countries experiencing short-term balance-of-payment and liquidity problems 2. “Emerging Economy” - Nations with social or business activity in the process of rapid growth and industrialization coming out of the global south. The economies of China and India are considered to be the largest of the emerging economies at this point, with China’s economic growth been spectacular since it’s reforms in the 1970s (economy grows at least 10% per year, even during times when the US economy is in recession) 3. European Parliament - Sits in Strasbourg, France; European parliamentarians are elected by the people every five years, and they are typically affiliated with Europe-wide parties; they do not sit as representatives of countries - Acts with the Council of the European Union and the European Commission to exercise legislative functions of the EU. Currently composed of 754 members of the European nd Parliament, representing the 2 largest democratic electorate in the world and the largest trans-national democratic electorate in the world 4. European Union (EU) - Created 50 years ago to further unify Europe to prevent conflicts from occurring - A regional, multilateral organization centred in Europe and held together with an extensive array of treaties, organizations, and increasingly, shared beliefs and practices - Was created as an intergovernmental organization, it should be thought of as an entirely new kind of entity; the breadth and depth of the integration it has successfully brought about between the nations of Europe - Sometimes described as “trans-national” or even “supra-national” institution. Recent financial difficulties have highlighted some weakness in its structure 5. FAO (Food and Agriculture Organization) - Established in 1945; coordinating with the efforts of governments and technical agencies to develop agriculture and forestry - Specialized agency of the UN that leads international efforts to defeat hunger; serves both developed & developing countries - FAO acts as a neutral forum where nations meet as equals to negotiate agreements/debate polices; also a source of knowledge & information, helping to improve/modernize agriculture, forestry, fisheries practices, ensuring good nutrition 6. GATT (General Agreement on Tariffs and Trade) - Established in 1947; serves as a negotiating forum for the reduction on tariffs and other barriers to trade, A multilateral agreement regulating international trade - GATT was the outcome of the failure to establish the International Trade Organization (ITO) 7. Global Governance (As known as “new governance”) - Collective actions taken to establish international institutions and norms to deal with national and global issues - Formal institutions and organizations through which the rules governing world order are made and sustained as well as those organizations and pressure groups pursue goals and objectives that have a bearing on transnational rule and authority systems; based on cooperation 8. Gross National Product (GNP) - The total market value of all goods and services produced by resources supplied by the residents and businesses of a particular country, regardless of where those residents and businesses are located 9. Hyperglobalizers - Essential cooperation and synchronization of the major practices and protocols for nations on a grand scale, involving the intermeshing of not just trade, but decision making on all critical issues- social norms, conflict resolution, environmental protocols, etc. Proponents of this believe that globalization is inevitable and unavoidable and that it controls the economy now and transformed it fundamentally 10. ILO (International Labour Organization) - A United Nations (UN) agency dealing with labour issues, particularly international labour standards and decent work for all. Almost all (185/193) UN members are part of the ILO 11. Interdependence - A political and economic situation in which two states are simultaneously dependent on each other for their well-being; heart of this concept is reciprocity - What happens in one play usually has consequences elsewhere 12. Intergovernmentalism - A political science term with multiple meanings - A theory of regional integration originally proposed by Stanley Hoffman; states and the national government is the primary factors of integration 13. Jacques Delors - Eighth president of European Commission 14. John Maynard Keynes - Founder of Keynesian economics theory (1930) – active government intervention in the marketplace and monetary policy is the best method of ensuring economic growth and stability. - Supporter would believe it is the government’s job to smooth out the bumps in business cycles. Intervention would come from the government spending and tax breaks in order to stimulate the economy, and the government spending cuts and tax hikes in good times, to curb inflation 15. Kenichi Ohmae - Developer of the 3Cs model, offering a strategic look at the factors needed for success through looking at it with three factors – the customer, the competitors and the corporation and the interconnectedness between these groups 16. Kenneth Waltz - Major proponent of Political realism in the Man, The State and War - Classified theories of the causes of war into three categories/levels of analysis o 1. War is caused primarily by the nature of particular individuals such as state leaders of by human nature more generally, an image constraint with the concept of classical realism o 2. Wars are caused by the domestic makeup of states; wanted to open up new markets to perpetuate their economy o 3. Notion that non-democratic states because of their internal composition start wars 17. Kyoto Protocol - International treaty set on industrialised countries to reduce carbon dioxide emissions (greenhouse gases). Signed by 55 nations, except for the US and China and Canada eventually pulled out of the treaty following Copenhagen. There have been number of attempts to revive the negotiations surrounding the Kyoto Protocol such as in Bali,
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