POLA84 Exam Notes

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Political Science
Waldemar Skrobacki

EXAM TERMS POLA84 2010-2011 1. Bretton Woods system The 1944 UN conference in Bretton Woods, New Hampshire, USA to re- stabilize world economy, and establish the rules for financial and commercial relations among the worlds nations. The bretton woods conference resulted in the International Monetary Fund (IMF). The Bretton Woods system is significant when considering globalization because it was at a time period where globalization was taking off. It was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states. On August 15, 1971, the United States unilaterally terminated convertability of the dollar to gold. It was designed rebuild the international economy. 2. “Emerging Economy” An economy in a country noted for growing liquidity, stability, infrastructure and other positive features, though not to the same extent as exists in the developed world. That is, emerging markets are economies that have increasingly important roles in the international stage and may one day become principal players, but they have not yet arrived at that level. Political factors may help or encumber emerging markets as they attempt to gain wealth and prominence. Major examples of emerging markets are Brazil, Russia, India, and China. Smaller economies, such as Bahrain, Egypt, Colombia, and others are also considered emerging markets. Emerging markets exist in relative LDCs to the United States and Europe; these countries nonetheless have vibrant, active economies 3. European Parliament was established in 1979 as one of the institutions of the European Union. It is elected by the citizens of the European Union to represent their interests. Its origins go back to the 1950s and the founding treaties, and since 1979 its members have been directly elected by the people they represent. Elections are held every five years, and every EU citizen is entitled to vote, and to stand as a candidate, wherever they live in the EU. It exercises the legislative function of European Union. 4. European Union the European Union was set up with the aim of ending the frequent and bloody wars between neighbours, which culminated in the Second World War. As of 1950, the European Coal and Steel Community began to unite European countries economically and politically in order to secure lasting peace. The six founders are Belgium, France, Germany, Italy, Luxembourg and the Netherlands. The 1950s were dominated by a cold war between east and west. Protests in Hungary against the Communist regime are put down by Soviet tanks in 1956; while the following year, 1957, the Soviet Union took the lead in the space race, when it launched the first man-made space satellite, Sputnik 1. Also in 1957, the Treaty of Rome creates the European Economic Community (EEC), or ‘Common Market’. 5. FAO Food and Agriculture Organization was founded in 1945. It is a specialized agency of the United Nations to defeat hunger and ensure food security. FAO help countries modernize and improve agriculture, forestry and fisheries. 6. GATT: General Agreement on Tariffs and Trade was established in 1947 to act as a negotiating forum for reduction of tariffs and other barriers to trade. (Not a treaty). The assumption was that free trade benefits the global society, and government involvement should be minimized. 7. Global Governance: Management of transnational issues through voluntary international cooperation has come to be referred as Global Governance. The term sounds like global government, but it is really the opposite, as it refers to management of the transnational challenges in the absence of a world government. Neither transnational challenges, nor attempts to manage them are new. We have had things like the Rhodian Law of the Sea, which provided a framework to govern maritime losses. The Hawala system has worked over a thousand years through the proactive participation of countless actors across South Asia, Middle East and the Mediterranean. The Hanseatic League provided an early glimpse of true multilateralism. Nevertheless, the depth and breath of current international cooperation around transnational issues is unprecedented. 8. Gross National Product: GNP is the total value of all final goods and services produced within a nation in a particular year, plus income earned by its citizens (including income of those located abroad), minus income of non- residents located in that country. Basically, GNP measures the value of goods and services that the country's citizens produced regardless of their location. GNP is one measure of the economic condition of a country, under the assumption that a higher GNP leads to a higher quality of living, all other things being equal. 9. Hyperglobalizers: A viewpoint of globalization that argues it is inevitable. It signifies the end of the state, and brings about global prosperity. The main source of societal change is the economy. It is governed by the principles of global competition, and that markets are more powerful than the states. 10. ILO The International Labour Organization was created in 1919, part of the Treaty of Versailles at the end of WW1. In 1946 it became an agency of the UN overseeing policies and programmes to maintain international labour standards. The ILO and the International Labour Code deal with child labour, discrimination, employment security and basically uphold decent work conditions and regulation of work hours, labour supply, protection against injury and illness and protection of children and women. 11. Interdependence States or people are affected by decisions of others; Actions of one state impact upon others. This can be economic and usually increased trade and movement across borders is a sigh of interdependence. Eg. Rise in interest rates in US exerts upwards pressure on others. 12. Intergovernmentalism: Both a theory of integration and a method of decision-making in international organizations, that allows states to cooperate in specific fields while retaining their sovereignty. In contrast to supranational bodies in which authority is formally delegated, in intergovernmental organizations states do not share the power with other actors, and take decisions by unanimity. In the European Union, the Council of Ministers is an example of a purely intergovernmental body while the Commission, the European Parliament, and the European Court of Justice, represent the supranational mode of decision-making. Virtually all other integration initiatives, including those among developing countries, are almost fully intergovernmental. In its most basic form, intergovernmentalism explains interstate cooperation and especially regional integration (e.g. EU) as a function of the alignment of state interests and preferences coupled with power. That is, contrary to the expectations of functionalism and neofunctionalism, integration and cooperation are actually caused by rational self-interested states bargaining with one another. Moreover, as would be expected, those states with more ‘power’ likely will have more of their interests fulfilled. For example, with regard to the EU, it is not surprising, according to proponents of this theory, that many of the agreed-upon institutional arrangements are in line with the preferences of France and Germany, the so-called ‘Franco-German core.’ Andrew Moravcsik is probably the most well-known proponent of intergovernmentalism right now 13. Jacques Delors: French statesman who was president of the European Commission, the executive body of the European Community (EC; ultimately succeeded by the European Union [EU]), from 1985 to 1995. Delors left government to become the president of the European Commission in 1985. He revitalized the long-stalled EC, pushing through reforms and overseeing the entry into force of both the Single European Act (1987) and the Maastricht Treaty (1993), the latter of which created the EU. 14. John Maynard Keynes: a British economist whose ideas have profoundly affected the theory and practice of modern macroeconomics, as well as the economic policies of governments. He greatly refined earlier work on the causes of business cycles, and advocated the use of fiscal and monetary measures to mitigate the adverse effects of economic recessions and depressions. His ideas are the basis for the school of thought known as Keynesian economics, as well as its various offshoots. Keynes instead argued that aggregate demand determined the overall level of economic activity, and that inadequate aggregate demand could lead to prolonged periods of high unemployment. 15. Kenichi Ohmae: Kenichi Ohmae has explored the ways that globalization is dissolving national borders and redefining the strategic business landscape. In his groundbreaking bestseller, The Borderless World, Ohmae coined the term ‘globalization’ and described the ways in which international business was bypassing national borders. In The End of the Nation State, he argued that nation-states have become inefficient, even impossible, business units in the new global economy, to be increasingly replaced by regional economies. The Invisible Continent described how technology was creating new platforms for generating wealth that transcended borders. In The Next Global Stage, Ohmae returned to his concept of "region states," tomorrow’s most potent economic institutions, with China exemplifying its power. In all these books, his focus has been: • What are the forces that are dissolving national borders and building new regional economies? • How do you leverage technology and the other new platforms for growth that are replacing the old ones based on national economies? • How do you lead a global corporation? • What roles should governments play when nation-states no longer matter? 16. Kenneth Waltz: a member of the faculty at Columbia University and one of the most prominent scholars of international relations (IR) alive today. [1He is one of the founders of neorealism, or structural realism, in international relations theory.(Neorealism) A theory developed by Kenneth Waltz in which states seek to survive within an anarchical system. Although states may seek survival through power balancing, balancing is not the aim of that behaviour. Balancing is a product of the aim to survive. And because the international system is regarded as anarchic and based on self-help, the most powerful units set the scene of action for others as well as themselves. These major powers are referred to as poles; hence the international system (or a regional subsystem), at a particular point in time, may be characterised as unipolar, bipolar or multipolar. 17. Kyoto Protocol: an international agreement linked to the United Nations Framework Convention on Climate Change. The major feature of the Kyoto Protocol is that it sets binding targets for 37 industrialized countries and the European community for reducing greenhouse gas (GHG) emissions .These amount to an average of five per cent against 1990 levels over the five-year period 2008-2012. The major distinction between the Protocol and the Convention is that while the Convention encouraged industrialised countries to stabilize GHG emissions, the Protocol commits them to do so. 18. Laissez-faire Capitalism: an economic system where the government leaves the people alone regarding all economic activities. It is the separation of economy and state.. Capitalism involves the ownership of property by individuals. The individual's goal is to use this property, or capital (buildings, machines, and other equipment used to produce goods and services), to create income. Individuals and companies compete with one another to earn money. This competition between companies determines the amount of goods produced and the prices company owners may demand for these goods. The French term laissez-faire literally means "to let people do as they wish." Thus, supporters of laissez-faire capitalism do not want the government to interfere in business matters, or if governments do involve themselves in business matters, to keep government influence to a minimum. 19. LDCs: a country which, according to the United Nations, exhibits the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world. 20. Maastricht Treaty: Established the current legal framework for the European Union, to finecomb the EU, it reflected the intentions of the EU to begin serious considerations of joining policies. Under the M. treaty, European citizenship was granted to each of the member-states, so they can move freely from one state to the other. It created joint FOREIGN AND MONETARY POLICY, eventual creation of a single currency. 21. Mao Zedong He was a Chinese revolutionary as well as the leader of China's Communist Party. After the defeat of the Japanese during World War II, China was thrown into civil war in 1947. The Guomindang government had succumbed to corruption, many people were thrown in jail for protesting or for criticizing the government. Thus, Zedong led a revolution to overthrow the ineffective Guomindang administration and restore China to its former peaceful and prosperous state. Zedong had a vision to rid China of Confucianism (he felt that it was not effective in this new era) and of foreign influence. He also focused on alleviating the suffering of the poor, and eliminating landlordism as well as social classes. As a Communist, he adhered to the Marxist theory. When the civil war ended in 1949, Guomindang surrendered (despite the support from the Americans) and the Communist Party established the People's Republic of Ch
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