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SOCIOL 1A06 Quiz: Quiz 5 Review SOCIOL 1A06

by OneClass618627 , Fall 2015
4 Pages
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Department
Sociology
Course Code
SOCIOL 1A06
Professor
Sandra Colavecchia
Study Guide
Quiz

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Sociology
Quiz 5
February 24, 2016
Globalization
World cultures are becoming more alike
Space-time compression (technology allows us to connect to vast demographic distances
fast)
Top-Down Globalization:
Capitalism
-more cars than customers can buy
-global commodity chains, culture has become a commodity
-American ideas, images and values are being exported around the world (ex. what is
beauty?)
!Financial Capital
-includes money used for investments on the market
-Casino Capitalism: reflects the criticism that it has allowed people to make a lot of money by
doing nothing at all
!Neo-liberalism economic policy
-little to no regulation of the market
-less government spending, shifting responsibly from government to the people, less
protection of government regulations over the environment
-Critique: subprime mortgage crisis in US sets off global recession
!Subprime Mortgage Crisis
-housing values have declined, interest rates increased leading to an increase in mortgage
delinquencies and foreclosures
-decline in capital, global recession resulted
-2006, housing prices started to go down at the same time as interest rates started to go up
Top-Down Globalization:
Free trade agreements and export processing zones or free trade zones
-reducing barriers for importing/exporting
-located in various nations
-provides jobs for residents in the area (labour is intense and low wages)
-huge tax breaks
Political and economic establishments
-making rules for others
!Advertising/Branding
-making a consumer familiar with a product
-selling a lifestyle
-brand recognition
Anti-Globalization
!bottom-up globalization, alternative globalization, global social justice movement

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Description
Sociology Quiz 5 February 24, 2016 Globalization World cultures are becoming more alike Spacetime compression (technology allows us to connect to vast demographic distances fast) TopDown Globalization: Capitalism more cars than customers can buy global commodity chains, culture has become a commodity American ideas, images and values are being exported around the world (ex. what is beauty?) Financial Capital includes money used for investments on the market Casino Capitalism: reects the criticism that it has allowed people to make a lot of money by doing nothing at all Neoliberalism economic policy little to no regulation of the market less government spending, shifting responsibly from government to the people, less protection of government regulations over the environment Critique: subprime mortgage crisis in US sets off global recession Subprime Mortgage Crisis housing values have declined, interest rates increased leading to an increase in mortgage delinquencies and foreclosures decline in capital, global recession resulted 2006, housing prices started to go down at the same time as interest rates started to go up TopDown Globalization: Free trade agreements and export processing zones or free trade zones reducing barriers for importingexporting located in various nations provides jobs for residents in the area (labour is intense and low wages) huge tax breaks Political and economic establishments making rules for others AdvertisingBranding making a consumer familiar with a product selling a lifestyle brand recognition AntiGlobalization bottomup globalization, alternative globalization, global social justice movement
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