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POLS 1090 (12)
Final

1st exam prep note

9 Pages
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Department
Political Science
Course Code
POLS 1090
Professor
Marc Weinstein

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Exam notes
Week 1:
Globalization
- It superimposed open markets across national boundaries, liberalizing trade and
investment rules, and privatize private good and services.
- Globalization involves deregulation, privatization, dismantling of the Keynesian welfare
state. In response to these elements, there is a series of resistance movements within
the same period.
- Crisis of globalization is connected to many problems from the elements involved in
globalization. The consequences is dismantling the Keynesian welfare state in favour of
privatization. Geo-political factors and Ecological factors connect to economic problems
(sustainability and development as a model itself).
- A significance of globalization is the expansion of potential markets overseas and
cheaper labour and resources. (If a company wants to move to another country to find
cheaper costs of production and labour, then this would become an act of globalization.)
This connects to the elements of capitalism, which includes: human labour, land,
technology, natural resources.
- A downfall of globalization is the reduction of employment domestically.
Globalization is:
a. open market national boundaries, deregulation
b. liberalizing trade and investment rules, deregulation
c. privatize good and services, privatization
Significant of globalization:
a. Capital become more profitable to produce by subcontracting out or hire labour from
NICs and NACs.
b. diversity of labour forces in 1st world and 3rd world, Concentration of skilled workers in
developed countries
c.
Capitalism
-there are three aspects of capitalism, business, state and society
- Capitalism is a form of production. Every activity that we form as economic is a form of
production, that is because it is connected to the form of human beings. When we think
of capitalism, we think of growth and development. Capitalism is for accumulating wealth
and satisfy human need
- The purpose of production is to satisfy human needs, but the purpose of business is to
accumulate wealth. Capitalism satisfies these two purposes.
- The force of production is determined. Throughout human history, there have been many
modes of production:
- Forces of production - are things like human labour, technology, capital. It determines
what we can produce and how much.
- Social relations of production – help organize the modes of production of social relations,
consisting of property relations, relations between classes, and legal relations.
(the establishment capitalism establish these social relationship of production, social
relations of production are a part of capitalism, they cannot be separate)
Capitalism : a form of production, every activity in the market is a form of production.
It satisfy:
a. Human need
b. Accumulation of wealth
There aspects: core is moral
a. Business-accumulation of wealth
b. State
c. Society
Element :
a. Force of production: labour, land, technology, capital. Determined what we can produce
and how much.
b. Social relationship of production: classes, property and legal relationship. Help organize
the production.
Significant:
a. Satisfied human need as well as the need of accumulating wealth.
Week 2:
Form of production and relations
- Any form of production includes a relationship. 3 kinds of relationships: self to self
(individual to individual), humans to humans, and humans to nature. When you think of
the individual in production, the individual has relation established with their work /
labour.
- Self to self - When they are engaged into a mental / manual labour, it’s a type of
affirmation of individual existence. Human to human is the affirmation of social existence.
Human to nature is an affirmation of natural existence.
-Human need involve in I-I I-N I-H)
Human need involved in three relationship:
a. Individual between- individual-when people engaged in mental/manual labor, they affirm
their individual existence.?
b. Human to nature- affirmation of natural existence
c. Human to human(society)- affirmation of society existence.
Circulation of commodity (market focused on exchange relations)
- The market is focused on exchange relations. When a company produces a product,
rather than produce it for their own needs they produce it as an exchange for capital.
The business puts a certain amount of money in and they want a certain amount of
money back. Money does two things: measure value / wealth, and acts as a medium of
exchange. It helps you measure the value of the exchange. At the end of the process,
the company gets profit (surplus value).
- This system starts with circulation, then goes into the market, then they purchase things
like land and machinery and raw materials and labour power. Once the capital

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Description
Exam notesWeek 1Globalization It superimposed open markets across national boundaries liberalizing trade and investment rules and privatize private good and servicesGlobalization involves deregulation privatization dismantling of the Keynesian welfare state In response to these elements there is a series of resistance movements within the same period Crisis of globalization is connected to many problems from the elements involved in globalization The consequences is dismantling the Keynesian welfare state in favour of privatization Geopolitical factors and Ecological factors connect to economic problems sustainability and development as a model itselfA significance of globalization is the expansion of potential markets overseas and cheaper labour and resources If a company wants to move to another country to find cheaper costs of production and labour then this would become an act of globalization This connects to the elements of capitalism which includes human labour land technology natural resources A downfall of globalization is the reduction of employment domestically Globalization isaopen market national boundaries deregulationbliberalizing trade and investment rules deregulationcprivatize good and services privatizationSignificant of globalizationaCapital become more profitable to produce by subcontracting out or hire labour from NICs andNACsstrdb diversity of labour forces in 1 world and 3 world Concentration of skilled workers in developed countries
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