GGR112H1 Study Guide - Midterm Guide: International Monetary Fund, Structural Adjustment, Import Substitution Industrialization
17 Oct 2017
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Document Summary
Key term of a master discourse about the general state of the world. Post-fordism: global production networks and the multinational corporation. Constant expansion the drive to continuously expand nation-state and or values. Driven by multinationals, just-in-time production, outsourcing, free movement of goods (cid:858)routi(cid:374)e(cid:859) / (cid:858)lo(cid:449)er skill(cid:859) (cid:373)a(cid:374)ufa(cid:272)turi(cid:374)g a(cid:374)d ser(cid:448)i(cid:272)es take pla(cid:272)e i(cid:374) de(cid:448)elopi(cid:374)g (cid:272)ou(cid:374)tries and investment. Colonies specialized in raw materials, metropolis in manufacture. Unequal economic relationship where the capitalist class extracts surplus value from. Laboring class: owns nothing but their own labour power. Laboring class must sell their labour to capitalist class laboring class. Surplus value: excess value produced by the labour of workers over the wages they are paid. Transformation of goods, services, ideas, and people into commodities. People are commodified by selling their labour to capitalists. Process through which elements of production and reproduction are produced for, and obtained from, market exchange and subjected to its disciplines and compulsions.
