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ITS final - Ben Scott ITS 201 Final PREVIOUS MATERIAL...

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Ben Scott ITS 201 Final PREVIOUS MATERIAL Democracy Democracy if holds elections?? o NO o There are single parties that have regular election BUT are not democratic Historical Theories o Providential—meaning in life derives from the belief that a higher power is operating in the world o Evolutionary—changes over time of a continent, civilization, or species o Dialectic—structure that involves opposing forces, slides, contradiction o Cyclical—identifies recurring trends and correlations in terms of phases, shifts, stages, and transitions o Causation—relationship of cause and effect, explanation for why things happen or why they occur Domino effect Imperialism—political, economic, and cultural domination of a country or area by another country Technological advances in colonial times o Creation of nautical charts, maps, land surveys led to the European expansion Imperialism—always involves geographical conquest? o Cultural Imperialism—imposing one culture and cultural values
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Attitude of superiority Imperialism o Terms associated—cultural, economic, political, military Lenin’s view of imperialism o Thought it was the highest stage of Capitalism o Capitalism must continually expand (new markets, investment of surplus capital) o Imperialist rivalries inevitably result in war Communism o A form of socialism, progresses towards a higher social order in which all goods are equally shared by people o Originator of communism—Karl Marx also called MARXISM o No private ownership, command economy : state plans and controls the economy o Single, authoritarian party holds power Capitalism o Economic system based on private ownership of capital o Operates according to supply and demand; profit-driven Economic Liberalism o Underlies most forms of capitalism and globalization o Laissez faire—“let the people do what they want” (individuals can buy/sell what they want)
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o GOAL: to achieve more harmonious, equal society, and ever increasing prosperity for all o Free Market Minimize barriers to the flow of private trade and capital o Private property and individual contracts based on self-interest o Minimal government interference Mercantilism o GOAL: increase the money in a country’s treasury or national wealth; controlling the use of gold and silver o Government—grows the national economy, maintain more exports than imports, impose tariffs o 3 components—manufacturing and rural sectors, and foreign colonies Emerging Market Economy (EME) o A country receiving aid and guidance from a larger donor such as IMF and WB o EMEs are transitional—in the process of moving from a closed to open market Protectionism—policies that protect national labor and production and wealth accumulation o Economic Nationalism is a form State or domestic control of the economy, labor, capital formation o Perceived opposition to globalization Role of government in: o Neoliberal Economic Theory
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NO interference in economy
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