of technology and expertise. There are two types of FDI: inward foreign direct investment and
outward foreign direct investment, resulting in a net FDI inflow (positive or negative) and "stock
of foreign direct investment", which is the cumulative number for a given period. Direct
investment excludes investment through purchase and sales.
Francis Fukuyama: Francis is a Japanese American author, economist, and political
philosopher. Fukuyama is on of the most well known Hyperglobalists, stating in his writing that
globalization is not avoidable. Fukuyama has completed his PhD of Government from Harvard
University. Although he has traditionally been seen as a right wing political philosopher,
Fukuyama endorsed Barack Obama in the 2008 US general election for president.
Global Warming: Environmental Theory that believes that CO2 emitted into the atmosphere by
warming argument would include former US vice president Al Gore and Canadian
environmental activist David Suzuki, both of whom commonly link environmental problems to
globalization. However, the theory has come under fire after the Climategate scandal at the
University of East Anglia in England.
Great Depression : $EVROXWHFUDVKRIWKH:RUOG¶VHFRQRP\LQWKHODWH¶V7KHJUHDW
depression remains to be the worst economic disaster in World History to this day.
Unemployment in the United States rose to a record 25%. The great depression would have had
an even worse effect on the world if it was not for an advance in job creation due to the Second
Humanitarian Intervention: The use of force on grounds that will benefit the people living in
nations may send their armed forces in to intervene for humanitarian needs.
IGOs: An international organization in which full legal membership is officially solely open to
states and the decision making authority lies with the representatives from governments.[Soft
ILO: The International Labour Organization (ILO) was set up in 1919 to raise labour standards
around the world. Each June, over 3,000 delegates from 180 member countries assemble for the
International Labour Conference (ILC) in Geneva, where they consider sundry labour and social
policy matters for two to three weeks.
IMF (International Monetary Fund): Established in 1945 with the headquarters in Washington
DC. In 2004 it had 184 states. The IMF monitors short term cross boarder payments and foreign
exchange positions. When a country develops chronic imbalances in its external accounts, the
1978 the IMF has undertaken comprehensive surveillance both of the economic performance of
individual member states and of the world-economy as a whole. The IMF also provides
extensive technical assistance. In recent years the fund has pursued various initiatives to promote
efficiency and stability in global financial markets.[Soft Break]