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POLA83 exam terms

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University of Toronto St. George
Political Science

POLA83  ASEAN (Association of Southeast Asia Nations) o Regional economic organization of 10 countries in Southeast Asia created in 1967 o Form of economic regionalism, purpose: to create a closer economic community to prevent regional conflicts, however, this system in not the same as the economic integrations in the European Union (less binding and institutionalized) o Mainly created due to political and security concerns o Significance: suggests that there is global interest in creating regional governing bodies and institutional frameworks  Bretton Woods System o A monetary system created in 1944 that established the rules for international financial relations and sought to create stability o Established 4 international institutions: UN, IMF, World Bank, GATT (later became the WTO) o Was based on the ideas of John Maynard Keynes, who said that government had to play a large role in managing monetary systems after the wake of the great depression. Believed that there needed to be more opportunities for intervention to prevent another depression o Significance: Although the Bretton Woods Systems was initially based helping nations create a welfare state, it has over the years evolved to support neoliberal ideologies. Especially in the 1980s, privatization became a large concern for the institutions.  Cold War o Extended worldwide conflict between communism and capitalism that began in 1947 and ended in 1989 with the collapse of the Soviet Union in Europe o For hyper-globalizers, this was perceived as a victory for Western democratic capitalism o End of the CW influenced many of the neo-liberal governmental policies in the 1990s  Common Agricultural Policy (CAP) o European Union agricultural subsidies o EU wanted to create an EU agricultural common market, represents almost half of the EU budget o Significance- EU works to protect European farmers from the effects of globalization  Cosmopolitanism o All humans belong to the same global community and have a shared set of ethics o Significance: Can be thought of as a product of globalization, because it suggests that individuals have certain fundamental freedoms/rights beyond the nation-state o Different forms of cosmopolitanism: cosmopolitan culture ( a global culture), democracy (global democracy), rights (global rights), capitalism (global market)  Dumping o The deliberate practice of selling a product abroad at a price lower than domestic price. o Dumping makes it difficult for producers in the country receiving the cheap product to compete. o Significance: often cited as a problem caused by neoliberal economic globalization o Anti-globalists and protectionists argue that trade restrictions can reduce the impact of dumping (which is in opposition to the neoliberal idea that barriers to trade must be removed)  Europeanization o Refers to the regional integration of the European states through policies formed by institutions like the EU POLA83 o Also can be thought of as a historical process: the spread of European values and beliefs both within and outside of the European continent (colonialism) o Significance: a form of regionalization that stands in opposition to the hyper-globalizer version of globalization (a global world without borders and nation states)  FDI (foreign direct investment) o is direct investment into production or business in a country by a company in another country, either by buying a company in the target country or by expanding operations of an existing business in that country o done to take advantage of cheaper wages or for special investment privileges such astax exemptions offered by the country as an incentive to gain tariff-free access to the markets of the country or the region o significance: According to the liberal thesis, can contribute to economic development. Critics tend to say that FDI in many nations in the global South in a new form of imperialism (investors tend to be from the global North)  Francis Fukuyama o The author of “The End of History” and was a hyper-globalizer o Suggested that humanity has reached an end point after the end of the Cold War, where Western liberal democracy is the final world order o Significance: Claimed that globalization is a natural and evolutionary process increased economic ties between nations through deregulation policies would diminish the role of the state, give more power to individuals and corps, and create social stability and equality  Global Warming o Increase in global temperatures due to rise in greenhouse gases and environmental degradation that is caused by human activity o Some theorists suggests this problem needs to be solved through global initiatives, it offers a test to whether global institutions can actually solve environmental problems o Tragedy of the global commons- if all players pursue self-interest (economic gain), public interest (a ‘healthy’ environment) is damages o Significance: international institutions and regional institutions have sought to manage this problem, but many critics suggest that true environmental protect stands in opposition to the neoliberal agenda (deregulated free trade).  Great Depression o Worldwide economic collapse following the 1929 crash of wall street that left countries in a depression (due to trade relations and fdi’s) o Significance: JMK argued that the collapse was due to the lack of government intervention in markets. Even after the GD, many governments thought that the economy would revive on its own. Critics suggest that self-regulation was the cause  Humanitarian Intervention o The principle that the international community has a right to intervene in states that have suffered large scale loss of life or genocide (by government or due to the collapse of government) o Principle by which UN peace missions are founded on o Many NGOs like the Red Cross and Doctors without Borders are also founded on this principle o Significance: the nation-state is not its own ruler, it must abide by international rules  IGOs (intergovernmental organization) o An international organization in which full legal membership is officially solely open to states and the decision making authority lies with representative from government POLA83 o Helps establish public law o UN and NATO are examples o With globalization, more counties have become involved in such organizations  ILO (international labour organization) o UN agency, sets international labour standards,  IMF (international monetary fund) o Part of the BW system o Provides assistance and short term flows of stabilization finance to any member state experiencing distress in public finances o IMF along with the WB were responsible for the structural adjustment funds imposed on developing nations in the global South o All currencies became fixed to the US dollar (before used the gold standard) (1970s) o IMF still plays a role in currency values o Significance: wanted to create an environment where free trade could flourish  Immanuel Wallerstein o Worlds systems analyst- the world system and not the nation state should be the primary unit of analysis o He divided the world system into 3 categories: core, semi-periphery, and periphery o These categories were based on the division of labour- core countries (high skilled, capital intensive production), periphery (low skilled labour o Although the core exerts dominance over the peripheries, these categories are dynamic and change with time o Significance: his global level of analysis is useful for a world undergoing globalization  International Human Rights Regime o International and regional regimes that promote human rights and fundamental freedoms o Examples: the African Charter on Human and Peoples' Rights, the American Convention on Human Rights (the Americas) and the European Convention on Human Rights, UN o Significance: human rights is something granted to individuals beyond the nation state, it has a regional and global basis  John Maynard Keynes o Key theorist who helped create the Bretton Woods system and got Western nations out of the Great Depression o Emphasized the importance of public goods, especially during depression. The economy needs help from government spending to recover because private corporations get stuck in a snow-ball-effect  Just War Tradition o Principle of ethics that suggests that taking human life in war is morally wrong, however states need to protect the interests of its people and promote justice (making war sometimes necessary) o Significance: aims to provide a guide for the right way states should act in conflict situations  LDCs (Least Developed Country) o the name given to a country which, according to the United Nations, exhibits the lowest indicators of socioeconomic developmebased on the Human Development Index rating o are at a lower level of historic, economic, political, and cultural development (based on a “stage view” of history) POLA83 o such countries have: poverty, human resource weakness, and economic vulnerability o significance: legacy of formal and informal forms of colonialism  Maastricht Treaty o 1992, the European integration movement formally became the EU o Significance: the EU started to work towards a common currency, created the EURO and the European Central Bank o Set convergence criteria for a European Monetary Union (inflation control, a certain deficit to GDP ratio and debt to GDP ratio must be met by member states) o This constrains the policy making ability of the state; suggests the decline of the nation state in order to create a stronger regional entity  Mercantilism o Attempt to ensure self-sufficiency within the state by using protectionist policies (tariffs) and subsidies o Count
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