Local Effects of Global Processes

Local Effects of Global Processes - Political Economy The...

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Political Economy The Local Effects of Global Processes
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Political Economy A concept of that emphasizes the centrality of material interests and the use of power to protect and enhance that interest. A concept that defines the basic structure of global economic processes
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Capitalism An economic system dominated by the supply-demand price mechanism called the market; an entire way of life that grew in response to and in service of that market. Principles: Profit, Limitless growth Ideology: Wealth = success and reflects a strong work ethic .
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Colonialism Cultural domination with enforced social change Neocolonialism: The persistence of profound social and economic entanglements linking former colonial territories to their former colonial rulers despite political sovereignty.
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Modernization Theory A theory that argues that the social change occurring in non-Western societies under colonial rule was a necessary and inevitable prelude to higher levels of social development that had been reached by more “modern” nations.
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