Final Exam: Key Terms.

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Political Science
Waldemar Skrobacki

Final Exam Terms 21/11/2012 9:12:00 AM 1. ASEAN  Association of Southeast Asian Nations  A geopolitical and economic organization of several countries located in Southeast Asia.  Formed as a display of solidarity against Communism, its aims now have been redefined and broadened to include the acceleration of economic growth and the promotion of regional peace.  Indonesia, Malaysia, Vietnam 2. Bretton Woods System  The regulatory system introduced at the end of WW2 in an attempt to bring stability to those elements of the world economy under the US sphere of influence. o Avoid another Great Depression o Repair European economies  Underlying objective was to provide sufficient policy space within domestic economies for governments to intervene in the interests of ensuring full employment  Created 3 institutions: IMF, World Bank, and the WTO  First example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states 3. Cold War  Extended worldwide conflict between communism and capitalism that is normally taken to have begun in 1947 and ended in 1989 with the collapse of the USSR power in Europe  Realists were wrong because it ended peacefully.  Wasn’t a real fight, but there was a military deterrence  Example: USSR putting missiles in Cuba, and the Americans freaked out. 4. Common Agricultural Policy (CAP)  Part of the Treaty of Rome ?  System of European Union agricultural subsidies and programs o Agricultural policies, subsidies for farmers, increase food production, opened markets 5. Cosmopolitanism  Denoting identification with a community, culture, or idea that transcends borders or particular societies, and implies freedom from local or national conventions/limitations. st  In the early 21 century, the dominant cosmopolitanism was that of globalizing capitalism, which promoted a community and culture that was informed by market economies, a concept of universal human rights, and a relatively liberal social culture. o Fostered a degree of multiculturalism, although it sought to reconcile particular cultures to a common ground of universal political and economic principles. 6. Dumping  deals with pricing of international trade, occurs when manufactures export a product to another country at a price below or above the price charged in its home market  Price and labour costs 7. Europeanization  has social and economic dimensions  The increasing integration (political, economic, and social) of the member states that make up the EU  The process by which EU political and economic dynamics become part of national politics  Similar to the term “globalization”  The process by which a non-European subject adopts European characteristics 8. FDI  Foreign Direct Investment  a direct investment into production in a country by a company located elsewhere, either by buying a company in a target country or by expanding operations. o Cheaper wages, etc.  Example: Apple producing it’s products in China 9. Francis Fukuyama  An American Political Scientist who thought that the end of the Cold War was the “end of history” in the sense that humanity is reaching the end-point in ideological evolution. Liberal democracies and free market capitalism 10. Global Warming  Same this as climate change  Refers to significant and lasting changes in weather patterns over periods ranging from decades to millions of years o Anthropogenic climate change results primarily from the expansion of the greenhouse effect, because of the greenhouse gases that are a by-product of our fossil fuel use  Greenhouse gases became a bigger problem during the industrial revolution. o Ice caps are melting, sea levels rising therefore a lot of people could be displaced.  Relates to globalization because it affects everyone. 11. Great Depression  Severe economic downturn and a terrible social crisis. 1929-1939  the global economic collapse that ensued following the US Wall Street stock market crash in October 1929.  Unemployment rose to 25%  The world was interconnected by webs of trade and foreign direct investment with the result that the events of October 1929 were felt around the world  Bretton Woods System was created to avoid this happening again  Caused because countries responded to the crash in mercantilist terms: they put up trade barriers and devalued currencies. o Failing banks. 12. Humanitarian Intervention  the principle that the international community has the right/duty to intervene in states which have suffered large-scale loss of life or genocide whether due to deliberate action by its government or because of the collapse of governments  Example: NATO in Libya 13. IGOs  intergovernmental organizations  full legal membership is officially solely open to states and the decision-making authority lies with representatives from governments.  Provide a place for discussions or resolving disputes  Usually formed by a treaty  Example: United Nations and the IMF 14. ILO  International Labour Organization  Part of the UN  Responsible for creating and overseeing international labour standards 15. IMF  International Monetary Fund  an institution of 186 members as of early 2010, providing extensive technical assistance and short-term flows of stabilization finance to any of those members experiencing temporarily distressed public finances.  Since 1978 it has undertaken comprehensive surveillance of the economic performance of individual member states as a precursor to introducing corrective programmes for those countries it deems to have followed the wrong policy course  Provides emergency funds for countries in economic crises. Offers financial and technical assistance to developing and transitional economies.  Maintain peaceful trade relations, and promote international monetary cooperation in hopes to stabilize the global financial system  Created as part of the Bretton Woods System  All currencies became fixed on the US dollar 16. Immanuel Wallerstein  Creator of the World Systems analysis in international relations: o Core Countries: Developed o Periphery Countries: Developing, dependent on core countries. o Semi-Periphery: Neither developed, nor developing. 17. International Human Rights Regime 18. John Maynard Keynes  A British economist in favour of a mixed economy, who was influential from WW2-1980s and 2007-now.  Founder of Keynesian Economics: government has a role in smoothing out effects of boom and bust cycles o Spend money in recessions, slow down during booms  Opposite of neoliberal economic ideas which is no governmental intervention 19. Just War Tradition  The belief that violent conflict has to meet certain criteria o The right to go to war  Real/just reasoning  Has to be a last resort o The right conduct in war  Treating prisoners properly 20. LDCs  Less Developed Countries/Developing Countries/Global South/ Third World  Lowest socioeconomic development and social development 21. Maastricht Treaty  Signed in 1993  Officially cre
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