HON- Global and Development Quiz #1

Brenton Wood Conference (1994)

foundational in economic globalization and development

created an expansion of markets across borders, acceleration of trade and investment, and strengthening of financial network and flows

creation of international economic institutions

International economic institutions

International Monetary Fund (IMF), World Bank, and World Trade Organization (WTO)

Washington Consensus

IMF and World Bank policies that advanced neoliberal interests and deregulate markets around the world through structural adjustment programs

Loans tied to state actions that supported neoliberal objectives

Neoliberalism

political-economic ideology that promotes capitalism through free-markets, deregulation, privatization, and minimal government intervention

“Globalization” and “Development”

used in confusing and sometimes contradictory ways both by the popular press and by academics

Both new and old concepts

Globalization

a set of social processes characterized by economic, political, cultural, and environmental interconnections, people consciousness of the world, and new political ideologies. It shifts how people think – from nationality to globality. 

Development

 a multidimensional process of expanding people’s capabilities, freedoms, and opportunities-involving not only economic growth, but also shifts in power structures, institutional transformations, and the ability of individuals and communities to flourish

Four distinct social forms that make up globalization

people, ideas, things, and organizations

Key is interconnectedness across borders

Critical social issue in the world today

development

Poverty

as well as injustice, environmental issues, social problems, obstacles to achieving one’s potential, and accessing opportunities – can be a result of poorly executed development projects and programs.

Sociology of Development

 related to globalization (and the “Third World”), but it cannot be conflated with either category.

There is a clear focus on local considerations.

There is also a consideration of global factors and social patterns (upstate New York and northeastern Brazil might benefit from parallel processes)

Key to examining globalization and development

being intellectually, theoretically, and methodologically diverse

Development (“flourishing”) is more than

fixing “poor countries” and analyzing/mirroring “wealthy” countries.