INTL 1101 Study Guide - Midterm Guide: Structural Adjustment, Bretton Woods System, Path Dependence
31 Aug 2016
School
Department
Course
Professor
Document Summary
Tranformationalist theory: a middle ground between skeptics and hyperglobalizers. Also, contrary to the skeptics, there is an intensification of interconnectedness, primarily in regards to culture. Path dependency: pd theory revolves around four basic tenets: time/sequence matter, similar conditions can lead to different outcomes, early decisions carry more weight, and change becomes the unlikely scenario in social/political life. When change does occur, however, it is known as a critical juncture. Path dependence can help us understand why some countries are poor and others rich while income inequality continues to increase. Cross border production chain: today"s trade is marked by complex chains emerging from manufacturing of a single product. This leads to the presence of a single company (nike) in several countries, and the increasing interconnectedness of private corporations and various states. World bank group: originally created to provide finance mechanisms to help rebuild europe following. Today, the wbg assists in the development of non-industrial economies in developing countries.
