Sociology 1020 Chapter Notes - Chapter 20: Global Value Chain, Gross Domestic Product, Making Money

• School: Western University
• Department: Sociology
• Course: Sociology 1020
• Professor: Scott Schaffer

Document Summary

Globalization and its origins: globalization: the integration of economic activities across national borders, deglobalized: a world in which every country consumes only what it produces for itself, export: sell their goods to other countries. Import: buy goods produced in other countries: foreign investment: in which it is not goods that leave a country but investments, emigration: the process of moving from their home to another economy, factors of production: capital and labour. Degree of globalization: foreign direct investment (fdi): when firms from one country make investments in another. Economic policies in developing countries: 1930s to 1980s. The o(cid:272)iolog(cid:455) proje(cid:272)t defi(cid:374)es glo(cid:271)alizatio(cid:374) to (cid:271)e (cid:862)the i(cid:374)tegratio(cid:374) of e(cid:272)o(cid:374)o(cid:373)i(cid:272) a(cid:272)ti(cid:448)ities a(cid:272)ross (cid:374)atio(cid:374)al (cid:271)orders(cid:863). This promotes a capitalist economy where people are no longer living for subsistence and they cannot provide all the resources necessary for survival. They buy their resour(cid:272)es for the (cid:373)arket (cid:272)o(cid:374)tri(cid:271)uti(cid:374)g to a large (cid:374)et(cid:449)ork of i(cid:373)ports a(cid:374)d e(cid:454)ports.