POLA84 Terms (Revised).pdf

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Political Science
Waldemar Skrobacki

Terms for POLA84 Final 1. Bretton Woods System ▯ - A conference of 45 sovereign states at hotel Bretton Wood, New Hemisphere ▯ - The purpose of the conference was to secure international monetary cooperation, stability ▯ currency rates and to expand access to hard currencies ▯ - Led to the creation of WTO, for members to address international trade issues ▯ - IMF and the IBRD were established as part of this system ▯ - Under the BS, the US dollar was pegged to gold and all other currencies pegged to the US ▯ dollar. With lots of spending, the amount of dollars in circulation exceeded the amount of ▯ gold used to back the US dollar. After being pulled back into a recession in 1960s, president ▯ Richard Nixon declared that i could no longer be pegged to gold, thus the end of BS system 2. “Emerging Economy” ▯ - The emerging economy also known as the Emerging Market Economy (EMEs) describes ▯ the countries who have been repeatedly hit by International financial crisis since the mid s ʼ 0 9 9 ▯ 1 ▯ - EMEs are characterized as transitional, meaning they are in the process of moving from a ▯ closed economy to an open market economy while building accountability within the ▯ system. Examples include the former Soviet Union and Eastern bloc countries. ▯ - One key characteristic of the EME is an increase in both local and foreign investment. A ▯ growth in investment in a country often indicates that the country has been able to build ▯ confidence in the local economy. Foreign investment is a signal that the world has ▯ begun to take notice of the emerging market, and when international capital flows are ▯ directed toward an EME, the injection of foreign currency into the local economy adds ▯ volume to the country's stock market and long-term investment 3. European Parliament ▯ - The European Parliament (EP) is a branch of the European Union (EU) that consists of 75 ▯ members. It is the only directly-elected body within the EU ▯ - The parliament holds a three fold action: It is one of the European decision makers; it ▯ carries Community acts, its Legislative Power. Its Budgetary Power allows it to define the ▯ definitive budget. It is enabled to reject it ▯ - It also holds a political control of the institutions: it can ask the Commission to submit a ▯ proposal to the Council or ask written or oral questions to the institutions ▯ - As part of the EU, the EP has been vital in the creation of a modern state. The ▯ development of the EP is an example of political globalization because it incorporates the ▯ political activities of countries within a region. The EP focuses on regional politics due to the ▯ increase in the importance of regional events 4. The European Union ▯ - An economic and political union or confederation of 27 member states which are located ▯ primarily in Europe ▯ - The EU can be seen as a mixed system of participation, regulation, and action, epitomized ▯ by its three pillar institutional structure. First pillar containing the European Community with ▯ its economic powers and procedures, the second containing the Common Foreign and ▯ Security Policy, and the third containing provisions for justice and home affairs ▯ - EU contributes to global government by encouraging the building of transnational networks ▯ and providing a model of continuous negotiation as a way of coping with the emergence of ▯ a global political economy ▯ - The main legal acts of the EU come in three forms: regulations, directives, and decisions. ▯ Regulations become law in all member states the moment they come into force, without the ▯ requirement for any implementing measure, and automatically override conflicting domestic ▯ provisions. Directives require member states to achieve a certain result while leaving them ▯ discretion as to how to achieve the result. Decisions offer an alternative to the two above ▯ modes of legislation. They are legal acts which only apply to specified individuals, ▯ companies or a particular member state. 5. FAO ▯ - Food and Agriculture Organization. The objective of FAO is eliminating hunger and ▯ improving nutrition and standards of living by increasing agricultural productivity ▯ - It coordinates the efforts of governments and technical agencies in programs for ▯ developing agricultures, forestry, fisheries, and land and water resources ▯ - It maintains information and support services, including keeping statistics on world ▯ production, trade, and consumption of agricultural commodities ▯ - In 1974 World Food Conference, held in Rome during a period of food shortages in the ▯ southern Sahara, prompted the FAO to promote programs relating to world food security, ▯ including helping small farmers implement low-cost projects to enhance productivity 6. GATT (General Agreement on Tariffs and Trade) ▯ - a multilateral agreement designed to provide a framework to negotiate trade barrier ▯ reductions among nations, signed by 150 countries. It was created when the US senate ▯ refused to ratify the ITO charter ▯ - The workings of the GATT agreement are the responsibility of the Council for Trade in ▯ Goods (Goods Council) which is made up of representatives from all WTO member ▯ countries ▯ - There have been 8 rounds of negotiation since the formation of the GATT, the most recent ▯ round being the Uruguay Round. When the Uruguay Round was complete, there was an ▯ agreement among 117 countries to decrease trade barrier and to create more detailed and ▯ enforceable world trade regulations ▯ - The WTO acts as a forum for debating further reductions of trade barriers and for settling ▯ discrepancies in policy, and also enforces trade rules signed in the agreement 7. Global Governance ▯ - The political interaction of transactional actors (both state and non state) aimed at solving ▯ global problems affecting more than one state or region, such as environmental degradation ▯ and nuclear proliferation ▯ - Global governance exists mainly in the context of globalization. In response to the ▯ acceleration of interdependence on a worldwide scale, global governance designates ▯ regulation intended for the global scale ▯ - Global governance affects states and how they interact with each other. It also affects the ▯ political economy. Governance should focus on the political economy due to the changes ▯ that have taken place in terms of changes in social structures in the post war era ▯ - When issues emerge, this called for the emergence of global governance. Institutions play ▯ a key role in terms of governance. One such example of an institution is the World Trade ▯ Organization. Through the use of multi-level governance, the WTO operates as a rule based ▯ institution that provides framework for the rules of trade. The WTO shapes the politics of the ▯ trade regime through the use of multi-level governance, which can be identified as a method ▯ of global governance 8. Gross National Product ▯ - The total value of goods and services produced by a countryʼs citizens, plus the income ▯ earned by citizens abroad, minus the income of foreigners within that country ▯ - GNP can help provide an idea of the contribution foreign direct investment has to a ▯ countryʼs economy. However, GNP is used less frequently due to the increased number of ▯ citizens abroad as a result of globalization ▯ - GNP and GDP and GDP/GNP per capita are often used to determine economic and ▯ welfare strength of a country ▯ - GNP is a fairly good measure of inequality, as richer countries tend to have a good ▯ health care system, infrastructure and the living conditions tend to be good for a majority of ▯ the population. Poorer nations with low GNP a basic or no health care system in place, the ▯ infrastructure tends to be undeveloped in many regions and living condition are poor. There ▯ is a strong correlation between GNP and the development of a country 9. Hyperglobalizers ▯ - Hyperglobalizers believe that globalization is growing fast and affecting us all more and ▯ more, so that our lives are all subject to the disciplines of the global market ▯ - Hyperglobalizers see regional trade pacts like NAFTA, Mercosul, FTAA, and the EU as ▯ well as international state trade agreements like GATT and the WTO as manifestations of a ▯ new global period reflecting an enormous and relatively recent historical transformation ▯ - They believe governments can no longer control the economy. It is governed by market ▯ forces. Markets are most effective and productive, and cannot be skewed by political ▯ manipulations. They also believe the main factor accelerating globalization is free trade ▯ - The main supports of this concept are Fukuyama and Ohmae 10. ILO ▯ - The International Labour Organization is an organization which has a long history of ▯ improving working conditions and promoting social justice and human rights ▯ - Created to deal with the widespread of industrialization of Europe in the 19th century ▯ - It believes: Labour is not a commodity. Freedom of expression and association are ▯ essential to sustained progress. Poverty anywhere constitutes danger to prosperity ▯ anywhere. All human beings, irrespective of race, creed, or sex, have the right to pursue ▯ both their material well-being and their spiritual development in conditions of freedom and ▯ dignity, of economic security and equal opportunity ▯ - The executive body of the ILO is compromised of 28 government representatives, 14 ▯ employersʼ representative, and 14 employeesʼ representatives. 10 of the government seats ▯ are held by representatives of member states which the organization has categorizes as of ▯ chief industrial importance: Brazil, China, France, Germany, India, Italy, Japan, the Russian ▯ Federation, the United Kingdom, and the US 11. Interdependence ▯ - This term was first used by Karl Marx in the Communist Manifesto. It describes the ▯ universal interdependence of nations and compares it to the old local way of ▯ interdependence and self-sufficiency ▯ - The overall idea is that co-operation between countries is necessary to sustain life. This ▯ idea is assisted by advancements in technology, which means mass production of goods. ▯ Mass production of goods means that we can now export to other countries for profit, those ▯ countries that need certain products they canʼt produce themselves. Co-operation between ▯ countries also enhances communications because it can link governments so they can ▯ trade their countryʼs goods▯ ▯ - A good example is NAFTA, the North American Free Trade Agreement which was created ▯ to increase free trade and investment between parties. This leads to economic growth, ▯ increase in standards of living, and creates employment ▯ - In addition, there is a moral benefit to co-operation among nations whereas aid for the ▯ hungry and ill are concerned, and also other social initiatives. One notable example is ▯ Africa, which has received trillions of dollars in aid 12. Intergovernmentalism ▯ - A system where issues are discussed and acted upon by governments of nation states. ▯ Governments tackle the issue collectively. ▯ - It requires each domestic government to exercise their authoritative power over the people ▯ they govern in order to implement the policies agreed upon. This is opposed to ▯ supranationalism ▯ - The Council of European Union is an intergovernmentalism. The cabinet ministers from ▯ the member states hold conferences and agree to implement policies within the union. The ▯ individual governments are then required to implement the necessary legislations required ▯ for this policy to be achieved ▯ - Realists contend that intergovernmentalism exists only so far as states are able to achieve ▯ their own interests. Liberalists argue that intergovernmentalism is a collective process ▯ where states must view the effect their decisions has on all states per-taking in the ▯ discussions 13. Jacques Delors ▯ - A French economist and politician, the 8th president of the European Commission and the ▯ first person to serve 3 terms in that office ▯ - Known as the architect of the Single European Act, the first modification of the Treaty of ▯ Rome, and of the ambitious reform of funding of the European Community ▯ - During his time at the head of the European Commission, there was major development of ▯ its structure, with the reinforcement of European Community financial systems (the White ▯ Paper for a single internal market), the signing of the treaty of adhesion with Spain and ▯ Portugal, and the creation of the Euro as the single European Currency ▯ - He addressed the British Trade Union Congress, promising that the EC would be a force ▯ to require governments to introduce pro-labour legislation ▯ - He is the created of the Delors commission. European Economic and Monetary Union ▯ was based on the three stage plan drawn up by a committee headed by Delors. 14. John Maynard Keynes: ▯ - Creator of the Bretton Woods system, who believed intervention was necessary, as it was ▯ the only way to combat the great depression, to increase government spending, in public ▯ works, as well as to control interest rates, and to increase public spending ▯ - Keynesʼs view that governments should play a major role in economic management ▯ marked a break with the laissez-faire economics of Adam Smith, which states that ▯ economies function best when markets are left free of state intervention ▯ - He led the British delegation to the Bretton Woods conference in the US. At the ▯ conference he played a significant role in the planning of the World Bank and the ▯ International Monetary Fund ▯ - He believed that political authority would lose authority where market ran rampant, leading ▯ to failure of international-corporations. He also believed in public authority (government) as ▯ a necessary means for sustainable economic order 15. Kenichi Ohmae: ▯ - He is considered a hyperglobalizer. He explored the ways that globalization is dissolving ▯ national borders and redefining the strategic business landscape ▯ - Ohmae argues that stateless corporations or transnational corporations (TNCs) are now ▯ moving around in the interlined economy centered at North America, Europe, and Japan. ▯ Those stateless countries will pursue strategies of global localization in responding on a ▯ worldwide scale to specific regionalized markets and locating effectively to fulfill the ▯ demands of different localized groups of consumers ▯ - Ohmae predicted that statesʼ power will be eliminated while TNCs will dominate it ▯ - He also explored how nation-states have become inefficient, even impossible, business ▯ units in the new global economy, and are to be increasingly replaced by regional economies 16. Kenneth Waltz: ▯ - Waltzʼs key contribution to the realm of political science is in the creation of neorealism, a ▯ theory of international relations which posits that statesʼ actions can often be explained by ▯ the pressures exerted on them by international competition, which limits and constraints ▯ their choices ▯ - Waltz accepts that globalization is posing new challenges to states, but he does not ▯ believe states are being replaced, because no other non-state actor can equal the ▯ capabilities of the state ▯ - Neorealism was Waltzʼs response to what he saw as the deficiencies of classical realism. ▯ The main distinction between classical realism and neorealism is that classical neorealism ▯ puts human natureʼs urge to dominate, at the center of its explanation for war, while ▯ neorealism stakes no claim on human nature and argues that instead the pressures of ▯ anarchy shapes the outcomes regardless of human nature or domestic regimes ▯ - Waltz argued that the world exists in a state of perpetual international anarchy. The ▯ anarchy of international politics means that states must act in a way that ensures their ▯ security above all, or else risk falling behind 17. Kyoto Protocol: ▯ - This is a treaty ratified by the UN, in order to reduce the emission of several harmful ▯ greenhouse gases into the atmosphere, which were thought to be the cause of global ▯ warming ▯ - One of the main factors of this protocol is its notion of “common but differentiated ▯ responsibility”. This suggests that all the signatories are acting towards the common ▯ purposed of protecting the environment, but each country, in their varying capacities, have ▯ different roles to play towards the common end ▯ - The protocol borrows from the concepts of globalization of trade to develop a system of ▯ globalization of environmental protection towards a common good. Some provisions, such ▯ as “emission trading”, allow countries to actually trade their rights to certain levels of ▯ emission, once its within the overall limitations as outlined in the treaty 18. Laissez-faire Capitalism: ▯ - Definition of Laissez-faire is: “Let it be” or “leave it alone”, this is an economic system ▯ commonly associated with economic liberalism or free trade ▯ - 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 ▯ - It was also a practical political response to three major historical events: The Great ▯ Depression of the 1930's, World War II, and the return of a huge wave of veteran soldiers ▯ after the World War II ▯ - It is believed by many that government policies that have tended towards a more laissez- ▯ faire approach are the driving forces behind the economic liberalism that drives ▯ globalization in todayʼs world 19. Least Developed Countries (LDCs): ▯ - Name given to countries by UN exhibiting the lowest indicators of socioeconomic ▯ development, lowest Human Development Index. Country is classified to be the LDC if it ▯ meets the 3 criteria: Poverty, Human resource weakness and Economic vulnerability. ▯ - Jeffrey Sachs has used the term extreme poverty to describe life in an LDC. The state ▯ does not provide: water, sanitation, food, housing, and transportation in most of a country ▯ (LDCs) or is some parts of it (BRICKs, such as China) ▯ - 49 countries have been identified as LDCs. These countries are particularly ill-equipped to ▯ develop domestic economies which are very vulnerable to external shocks or natural ▯ disasters ▯ - The UN General Assembly decides which countries are included in the list of LDCs under ▯ the recommendation of ECOSOC 20. Maastricht Treaty: ▯ - Established the European Monetary system to stabilize monetary-affairs in Western ▯ Europe ▯ - This treaty established the Maastricht criteria and the EU single market which ensures the ▯ free movements of goods, capital, people, and services ▯ - The treaty established the three pillars of the European Union: The European Community ▯ (EC) pillar, the Common Foreign and Security Policy (CFSP) pillar, and the Justice and ▯ Home Affairs (JHA) pillar ▯ - Instead of renaming the European Economic Community, as the EU, the treaty would ▯ establish a legally separate European Union comprising of the renamed European ▯ Economic Community, and of the inter-governmental policy areas of foreign policy, military, ▯ criminal justice, judicial cooperation 21. Mao Zedong: ▯ - Chinese repressive, former communist leader, who led the Communist Party of China to ▯ victory against the KMT in the Chinese Civil War ▯ - Relation with “Forced resettlement programs and expulsion” ▯ - Sent his Red Guard storm troopers to subdue Tibet. 22. Mercosur: ▯ - Originated from NAFTA, it is a regi
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