IDSA01H3 Study Guide - Final Guide: Mercantilism, Walt Whitman Rostow, Modernization Theory

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IDSA01 Glossary – Set 3
Ahistorical: failure to consider the specific historical contexts of each country. For example, Rostow’s Theory
is ahistorical among other critiques.
Bilateral aid (or assistance): used by the OECD DAC’s in regards of a donor country’s assistance being
provided directly to a developing country government. Such aid includes: interest subsidies, debt reorganization,
funding to NGOs and multilateral agencies.
Globalization: process of interaction and integration among the people, companies, and governments of
different nations – driven by international trade and investment and aided by information technology.
Great Divergence: two ratios of per capita GDP where the Western Civilization dominated in growth around
the 1970s. Factors that contributed to this were the geographic area, technological and scientific innovations,
institutions, and cultural reasoning.
Hegemony: political, economic, or military predominance or control of one state over others.
Industrial Revolution: the transition to new manufacturing processes in the period from about 1760 to
sometime between 1820 and 1840. Some inventions included the steam engine, sewing machine, bridges etc.
Mercantilism: economic theory and practice dominant in parts of Europe during the 16th to the 18th century.
Included policies such as, forbidding colonies to trade with other nations, limiting wages, and subsidizing
exports.
Modernization theory (W. W. Rostow): Rostow’s theory involved how a country could support self-
sustaining growth using GDP growth as an index of development. He classifies being modern as more
technologically advanced and based on secular ideologies which opposes the traditional society. Rostow
assumes that the transition from being traditional to becoming modern occurs in all states and is based on his
linear model of the Five Stages of Economic Growth.
Multilateral aid: used by the OECD DAC’s in regards of overseas aid. Such aid includes unremarked
contributions to multilateral agencies, programmes and funds which are wholly or partly humanitarian or
developmental in their mandate. (Funding to multilateral agencies where the donor imposes any restrictions on
its use, automatically becomes bilateral aid).
i.e. the World Food Programme delivered humanitarian programs in response to the Horn of Africa food crisis
Post-development theory: shows that development is in terms of a Western approach – more industrialized,
more scientific and technologically based.
Universalizing logic: In Rostow’s Modernization Theory he applies this concept for using the stages of growth
for all countries and is critiqued for it.
World systems theory (core/periphery/semi-periphery): Developed by Immanuel Wallerstein, involving
three hierarchies: core, periphery, semi-periphery. Emphasizes that the world-system, and not nation-states as
the primary unit of social analysis.
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