I203+Study+Guide+-+Exam+2-2-1

9 what is the relationship between migration and

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9. What is the relationship between migration and development during the contemporary period of globalization. Be sure to include in your discussion the role of remittances, global care chains, flexible production, and brain gain / brain drain. During the contemporary period of globalization, two of its main characteristics are outsourcing and displacement, which leads to migration. Immigrants from countries with smaller countries often move to places where the salary is higher, like in the global care chain. Many women from countries like the Philippines and Mexico become caretakers of children or the elderly in order to provide for their own families back in their home countries, leading to a chain. This leads to remittances by migrants, which constitute the second largest financial inflow to many developing countries, often exceeding international aid. Opposite from that, companies outsource to countries where the production cost is cheapest, a “race to the bottom,” because it allows for flexible production where they are able to easily switch to fit consumers needs. A brain drain/ brain gain is also started where people in countries with developing countries study abroad in developed countries and then go back in order to use that education to develop their home country. Included with that, there is a more urbanized population as economies develop as well. 10. Explain the 3 schools of thought on Globalization as portrayed by Murray (2006). Provide examples where necessary. Next, select one of the textbooks from this semester (either Peet & Hartwick or McMichael) and explain where that author fits into the 3 schools of thought. One of the three schools of thought on globalization is hyperglobalism, which believes in a borderless, single market and the erosion of state power. It is deterministic in that it in captures both neoliberal and neo-Marxian thought. Skepticism is another school of thought on globalization, which believes that globalization is not deterministic or interconnected, because national governments still matter and are central. Skeptics believe that the 1890s world economy was actually more integrated and globalization is a smoke screen for the benefit of those who gain most from it. Transformationalists believe in a different school of thought in which there are new complex networks of inclusion and exclusion as well as new forms of governance. The role of the nation-state is altered but not obliterated. Globalization is unpredictable, socially constructed and malleable, like glocalization.
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McMichael would fit into skepticism school of thought, because he believes in intentional globalization. He believes markets are neither natural nor free, but rather institutional constructs. To him, globalization is a project, a project that emphasizes the politics of globalization, so like skepticism national governments are very central. The globalized free markets only benefit about one-third of the world’s population. 11. Explain the relationship between the global financial crisis of 2007 and the “global pool of money”. How does the response of MDCs to financial crisis differ from that of LDCs? What role did collateralized debt obligations (CDO) and credit default swaps CDS) play?
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