SOC101Y1 Chapter Notes -Economic Bubble, Financial Capital, Corporate Tax
Document Summary
Globalization = process that makes it easier for things like goods and ideas to travel around the world at an unprecedented pace (7) Time-space compression = we are no longer slowed down by long distances and time differences (7) Digital divide = some people have more access to technology than others (8) Top-down globalization = the extension of capitalism globally as a result of the neoliberal policies and programs authorized by international financial authorities such as the world. Bank and implemented by national governments organized by elites or corporations with little democratic input (9) Neoliberalism = economic policies that became prominent in the late 1970s that advocate a retreat from state regulation, individual responsibility, privatization, and less respect for labour and the environment, and faith in capitalism (9) Neoliberalism has its roots in american hegemony, since the imf and world bank are headquartered there (10)
