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POLS 2080 Study Guide - Final Guide: First Age, Mercantilism, General Agreement On Tariffs And Trade


Department
Political Science
Course Code
POLS 2080
Professor
Steffi Hamann
Study Guide
Final

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Stages of Economic Growth
- Walt Rostow’s model of economic growth (1960s)
- What traditional societies had to do to become modern societies
- Stage 1 (traditional): traditional society, farming, following parents footsteps
- Stage 2 (preconditions for take-off): creating more trade, investments, savings,
improving technology productions
- Stage 3 (take-off): Reached when total amount of investment that is produces reaches
more than 10% of GDP, economic growth is outgrowing population growth
- Stage 4 (drive to maturity): enhanced from stage 3, more of stuff
- Stage 5 (high mass consumption): achieved our aim, high incomes, mass consumptions,
buy luxurious things
- It takes external forces to help change traditional societies
1420-1600: Seafaring Exploration
- Age of the Spanish and Portuguese (Christopher Columbus)
- Europe just came out of the Plague
- New hunger for wealth and good (gold, textiles and spices)
- Footholds in asia, africa and americas
1600-1780: First Age of Global Empire
- French, English and Dutch join
- independent and private explorations
1780-1870: Informal Control
- US began to do it’s own thing (independence)
- War taking place in 19th century (Napoleon)
- Fall of french empire and rise of British Empire
1870-1914: High Imperialism
- Most of the world was colonized (minus the ones that have already gone through it and
are now independent)
- Scramble of Africa (european powers dividing up african countries)
- Ended with the two world wars
1945-1960s: Decolonization
- Countries begin to achieve their independence
- Colonialism: the territorial conquest, occupation and direction control of one country by
another (the Practice)
- Imperialism: Political and economic system in which one state controls the political and
economic life of other societies - either directly or indirectly (the idea that is driving the
practice)
- Neo-Colonialism: The perpetuation of exploitative economic relationships between a
developed and a developing country, despite the formal political independence of the
latter
**Mercantilism: building a wealthy and powerful state
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