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Study Guide Pt.1

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Mc Kinon

Chapter 9 Globalization, Inequality, and Development -People are become more aware of and relying on one another. This is called globalization. -Globalization creates a world that is more homogeneous and more localized and generates its own opposition. -Became highly significant like the grown of capitalism and world exploration. -Since industrialization, global inequality has also increased. -Global inequality stresses how deficiencies lead to a lack of economic growth, and also the history of social relations enriched some nations at the expense of others. -Some non-Western countries have successfully industrialized. -Have both benefits and disadvantages. Introduction The Triumphs and Tragedies of Globalization -Take example of comparing a travel to Europe now and 25 years ago. -We are able to easily obtain cash and purchase things in Europe. -Back then; English was not a commonly spoken language as it was harder to communicate. -Globalization has improved the way we live. -However, not everyone is happy with globalization as it creates inequality between the rich and the poor. -Some think that globalization is a form of imperialism, the economic domination of one country by another. Globalization Globalization in Everyday Life -Everyone influences each other in a globalize economy. -470[,25O0*,7843882,OOL3;0892039L3%K,LO,3/,O43JZL9K2,3\49K07L3;08920398O0/94 an economic downturn in Thailand. -Global commodity chain is a worldwide network of labour and production processes whose end result is a finished commodity. -Nike shows the inequality of the economy. Pricing their prices high while using sweatshops to manufacture their products. -When someone buys a pair of Nike shoes, they contribute to the global commodity chain. The Sources of Globalization -These include technology, politics, and economics. Technology -Allow the transportation of information and other things over long distances quickly and inexpensively. -Allow us to reach people around the globe through telephone, fax, e-mail, etc. Politics -South Korea has allied with Canada since the Korean War, hence why South Korea is better known to Canadians than North Korea. www.notesolution.com -However, due to the political system and communist economic system in North Korea, it remains isolated from the rest of the world. Economics -Transnational corporations are large business that rely increasingly on foreign labour and foreign production; skills and advances in design, technology, and management; world markets; and massive advertising campaigns. They are increasingly autonomous from national governments. A World Like the United States? -McDonaldization is a form of rationalization. Refers to the spread of the principles of fast-food restaurants, such as efficiency, predictability, and calculability, to all spheres of life. -Defined by George Ritzer. -However, some view that globalization is making the world a more homogeneous place based on North American values. -Glocalization described the simultaneous homogenization of some aspects of life and the strengthening of some local differences under the impact of globalization. -%K0\:809K00[,25O041K,;L3J/L1107039144/8807;0/,9.43,O/8L3/L1107039.4:397L08 -Regionalization is the division of the world into different and often competing economic, political, and cultural areas. -World trade is spread evenly around the world, an Asian bloc, North American bloc, and European bloc. -Although globalization brings us together in the world, it can also generate much criticism and opposition. Globalization and Its Discontents: Anti-globalization and Anti-Americanism -Islamic fundamentalism is the most far-reaching and violent of many reactions against globalization. -The Mexican peasants staged an armed rebellion against the Mexican government. -Colonialism involves the control of developing societies by more developed, powerful societies. -A positive way to look at globalization is that it shows the growing gap between the rich and the poor. Development and Underdevelopment Theories of Development and Underdevelopment Modernization Theory: A Functionalist Approach -The modernization theory says that global inequality results from various dysfunctional characteristics of poor societies themselves. -Poor cities lack capital to invest in Western-style agriculture and industry. -Also, they lack the government and mentality that stress the values needed for high achievement, savings, innovation, education, etc. -To help this, Western businesses need to invest in poor countries and increase trade between the rich and poor. Dependency Theory: A Conflict Approach www.notesolution.com -Dependency theory views economic underdevelopment as the result of exploitative relations between rich and poor countries. - Substantial foreign investment: Investment by multinational corporations has positive effects for rich countries and negative consequences for poor countries. - Support for authoritarian governments: Give support to local authoritarian governments. Gunboat diplomacy is when Western governments send troops and military advisors. - Mounting debts: Poor countries have to borrow money from Western banks and governments, leading to the interest to grow every year. Effects of Foreign Investment -Modern theorists want more foreign investment in poor countries and freer trade because they believe it will promote economic growth and general well being. -Dependency theorists disagree as they think foreign investment drains wealth out of poor countries. -Therefore, they want poor countries to go against the rich and throw up barriers to free trade and investment and find its own path to economic growth. -Some researchers studied the effects of free trade and foreign investment and came to 2 conclusions. -1, in 1990 and 1980, international trade and foreign investment led to economic growth. -2, openness to international trade and foreign investment led to an increase in inequality -In conclusion, countries have different social structures and histories as they may adopt economic policies that influence the effects of international trade and foreign investment. -Factors that may affect how a country responds to international trade and foreign investment include history, structure, and policy factors. Core, Periphery, and Semiperiphery -Immanuel Wallerstein said that capitalist development resulted in the creation of an integrated world system comprising the 3 tiers. 1. Core capitalist countries: Include the United States, Japan, and Germany. They are major sources of capital and technology. 2. Peripheral capitalist countries: Include Guatemala and Angola. They are major sources of raw material and cheap labour. 3. Semiperipheral capitalist countries: Include South Korea, Taiwan, and Israel. They attempt to become prosperous. -Semiperipheral countries differ from peripheral countries in 4 ways: 1. Type of colonialism: South Korea and Taiwan became colonies of Japan until 1945. Japanese built up economies of their colonies as they established transportation network and communication systems. This led to an advantage for South Korea and Taiwan compared to Ghana, for example. 2. Geopolitical position: United States feared that South Korea and Taiwan might fall to the communist, therefore, provided aid to both countries in 1960. Also, Israel www.notesolution.com received aid from US and received low interest loans and opened domestic market in the middle easy. 3. State Policy: South Korea and Taiwan invested mainly on high education, health care, roads, and other public goods. They placed high taxes on consumer goods, limiting foreign goods, 4. Social Structure: Redistributed land to small farmers, eliminating class of large landowners. This got rid of potential social conflict. Canada as a Semiperipheral Country -Type of colonialism ,3,/,0[507L03.08L884209L208.,OO0/ZKL908099O07.4O43L,OL82 Wealth they found was reinvested locally. -,3,/,8geopolitical position: Highly favorable to economic development. Major supplier of raw materials and other goods, hence played a large role in WW2. -,3,/,8state policy acted to protect and stimulate the growth of Canadian industry. -,3,/,8social structure had fewer positive effects on economic development. Neoliberal VS. Democratic Globalization Globalization and Neoliberalism -Neoliberalism is the policy promoting private control of industries, minimum government interference, removal of taxes, and encouragement of foreign investment. -This did not really work out well. -Therefore, globalization can be positive but we have to distribute benefits more evenly around the world. Foreign Aid, Debt Cancellation, and Tariff Reduction -Foreign aid often has detrimental effects of poor countries. -Debt cancellation is so onerous because it prevents them from focusing on building up economic infrastructure, improve heal and education, and developing economic policies that can help from poverty. -Lowering tariffs can lead to economic growth in developing countries. -Offer stronger support for democracy for poor countries. Democratic Globalization -Democracy lowers inequality and promotes economic growth. -In sum, we can offer stronger support for democracy in the developing world, contribute more and better foreign aid, forgive debt owed by poor countries to rich countries, and eliminate many tariffs restricting exports from developing countries. Chapter 13 Work and the Economy -Work related re
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