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

Elevation of market principles as the organizing

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elevation of market principles as the organizing principle of society, where private interest trumps the public good NGO: private developmental agency usually geared to financial education, empowerment, skill provision, and development training assistance with varying political impact and sometimes unaccountable policy influence. Social Capital: the realization of community resources via individual and collective activity, and entrepreneurship, aimed at improving local quality lives by drawing on and pooling local talents
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Social Reproduction: typically feminized forms of social backup to the wage system on the one hand (such as unpaid household labor) and informal livelihood strategies in lieu of public goods Sustainable Development: development practices that meet present needs without compromising the needs of future generations through erosion of the natural resource base World Economic Forum: organization representing political financial and corporate elites of the global North, meeting annually in Davos, Switzerland to monitor and manage the global economy World Social Forum: diverse forum of NGOs and the global social justice movements that meets annually a counterpart to the World Economic Forum, usually in Brazil, the progressively realize the slogan “another world is possible” World Trade Organization: organization established in 1995 to regulate the global economy according to the principles of freedom of trade and investment Microfinance/microlending: Internal Colonization: Glocalization: Fundamentalism: a desire to recover the simplicity and security of traditional codes of behavior Other Early theories on globalization The Global Village 3 schools of thought on globalization: Hyperglobalist, skeptic, transformalist Time-space convergence Time-space distanciation Time-space compression Potential Essay Questions 1. What are the elements of the Globalization Project, according to McMichael. A (Washington-based) consensus among global policymakers favoring market-based rather than state-managed development strategies Centralized management of global market rules by the G-7 states Implementation of these rules through multilateral agencies (World Bank, IMF, WTO) Concentration of market power in the hands of Transnational Corporations and financial power in Transnational Banks Subjection of all states to economic disciplines, varying by geopolitical position, global currency hierarchy, debt load, resource endowments, etc Realization of new global development via new class, gender, race and ethnic inequalities Resistance at all levels, from marginalized communities to state managers to factions even within multilateral institutions, contesting unbridled market rule 2. What is the difference between outsourcing and offshoring? How do these relate to the globalization project during the 1980s period?
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