SOCI254 Final Exam Notes.docx - Globalization Process that...

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Globalization - Process that involves exchange in economics, politics, technology, cultures, and legal dimensions across borders Washington Consensus - Represents the foreign policy view of the US and its allies - An approach that recommends privatization as the path to economic success and integration into the global market by bringing down state market regulations - Brings into play the hidden hand which is the idea that the market regulates itself and if you give it space by removing constraints, and will achieve equilibrium in which successful industries will rise and those who were never meant to succeed will fail 3 Views on Globalization Neoliberal View - Economic globalization, positive for humanity - Similar to modernization theory - Triumph of free market capitalism o Obtain wealth and decline of poverty, democracy - Continuity with Rostow’s “take-off” o Economic. Agricultural development - Taiwan: developed because they embraced global capitalism o Need to have capitalism first Radical View - Marxist tradition influence - Core vs. periphery o Uneven power relations o Globalization is a way to exploit the weak - Marx idea of exploitation/alienation is used o Boss exploits worker o Worker makes product for someone else Radical view sees the world in this term - Globalization is more than economics o Refugee regulation, Mexico’s wall, Muslim ban  anti-globalization Irony: made by those who advocate for the movement of goods and capital - Globalization = New Imperialism New Globalism - Changing power relations, division of labour o Competition for cheap labour, business for companies - Global integration as opportunity - Shift in power relations - Developing countries as competitors - States are important actors, focus on classes of individuals rather than countries
Foreign Aid (defining + motivations for) - International transfer of public funds in the form of loans or grants either directly from one government to another (bilateral assistance) or indirectly through the vehicle of multilateral assistance agencies such as the WB - Moral motives o Reparation of past wrongs Western society built on the back of colonialism, slavery and violence. There is a duty on Western governments to repay their debt to the developing world. o Egalitarian motives Development aid should be the equalizing factor between the discrepancies in opportunity/living conditions in the world o International solidarity Idea of the state as providing welfare Moving beyond borders to help others - Mutual interests o Interdependence Trade, exchange etc. = everyone benefits from development o Global environmental problems Population growth, environmental degradation affects us all Sustainable development, fostered through development aid, is good for everyone o Avoiding international conflicts Gap between the rich and poor may lead to conflict Inequality in GDP/capital is a prime predictor of international war o Increasing GDP, developing country leads to peace Categories of Development Aid -

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