The Contemporary World Lessons 1 - 5

immanuel wallerstein

This person is greatly associated to the World System Theory who published the rise and future demise of the world capitalist system. this is in 1974

globalism

ideology og globalization

globalization

A process of globalization

globality

A condition of globalization

globalization

dynamic process of development and unfolding = CHANGE.

Larsson

He said that globalization is The process of world shrinkage

Ohmae

He said that globalization is The onset of borderless world.

Harvey

He said that Globalization is the Compression of time and space

Khor

He said that globalization is what we in the Third World have for several centuries called colonization.

economic globalization

is the increasing economic integration and interdependence of national, regional and local economies across the world through an intensification of cross-border movement of goods , services , technologies

international trade

it is the economic transactions made between countries including exchange of goods and services

import

buying of goods and services from other countries

export

selling of goods ang services from home country to another country

david ricardo

He introduced the comparative advantage theory

comparative advantage

countries should only export the goods that they are able to produce more efficiently and import the goods that other countries are able to produce more efficiently than them.

specialization

it is when a nation concentrates the use of its resources on producing a limited variety of goods to gain a greater degree of efficiency

foreign direct investment

it is a category of cross-border investment in which an investor resident in one economy establishes a lasting interest in and a significant degree of influence over an enterprise resident in another economy.

capital market flows

refers to the movement of capital (money for investment) from one country to another as a consequence of investment flows.

migration

is the movement of people from one country to another. In economics, it is in consonant to the movement of labor.

emigration

movement of people from a country.

immigration

movement of people to a country

remittances

are funds that emigrants earn abroad and send back to their home countries, mainly in order to support families left behind

technological diffusion

the spread of technology among countries. It is the process by which new technologies are adopted for use across individual firms or households in a given market, and across different markets

world system theory

It is a multicultural territorial division of labor in which the production and exchange of goods and materials is important for surviving everyday life.X

core and periphery

These are the two interdependent regions under the world system theory..

core

refers to advanced or highly developed countries/incorporate higher levels of education, salary, technology, and generate more wealth in the world economy

semi-periphery

defense zone between core and periphery and has a mix of the kinds of activities and institutions that exist on them

periphery

less developed countries, incorporate lower level of education, salaries, technology, and less wealth in the world economy

world polity theory

in this perspective, state remains an important component of world society. societies were becoming more similar in terms of government and policies.

culture, economy

world polity theory emphasizes _____ and not _____

norms

unquestionable standards of the society. they are like natural laws where it indicates the proper behavior depending on the situation.

subsistence farming, industrial revolution, and modern technology

stages of each society to go through:

world culture theory

this perspective aggrees that world culture is new and important, but it is less homogenous than world polity scholar imply. it is a process relativization.

relativization

each unit emerging in the world order takes shape depending on its surroundings. universal standards derived from a common conception of humankind, citizenship in those societies become relativized.

emulation

although globalization cannot create a common culture, where everyone has the same values and beliefs, it can create a single arena in which actors pursue their goals with comparison to others.

glocalization

ideas and processes inside globalization are interpreted differently according to the point of particular groups and their history. it is a practice that involves both local and global considerations.

inherent dynamics of globalization

world culture theory shows the process as ongoing and open-ended, this means that all characteristic of world culture

movements of de/reglobalization

triggers resistance of reaction.

multiple sources

while world culture theory emphasizes the role of reflexivity and worldviews in globalization, in principle change can originate anywhere. world culture theory is causally agnostic.

neoliberalism

theory of political economic practices that proposes that human well-being can be best advanced by liberating individual

free trade

two or more countries agreed to reduce import and export barriers among them. if policies were created, goods and services can be bought and sold across international borders with little or no government control with regards to tariffs, quotas, or subsidies.

protectionism

actions or policies that allow a government of a country to promoted domestic or local producers.

privatization

the transfer of state owned properties or businesses to private

silk roads

ancient network of trade routes that connect the east and west. connecting asia and europe

16th century

europeans was recognized worldwide by building trade connections on their own terms, bringing their culture to different regions. colonization happened this era.

19th century

intense globalization, when millions migrated, trade greatly expanded, and new norms and organizations. the era of first industrial revolution

20th century

considered as the golden age of globalization, movement of people, goods, and services across national borders was at least as free and significant as it is today

manfred steger

introduced the idea of market globalism as a rising political system. it reflects the concepts of globalization. it seeks to endow globalization with free market norms and neoliberal meanings.

globalization is focused on the global integration and liberalization of markets

globalization is about the victory of markets over governments. it activates the neoliberal ideal, that self-regulating market is the basis for a future global order.

globalization is irreversible and inevitable

it can be attributed to technological innovations. the progressive characteristics of technology seem to make globalization unstoppable.

no one is in charge of globalization

the core claim emphasizes the leaderless idea of globalization.

globalization benefits everyone

this claim rest at the very center of market globalism because it provides an affirmative answer to the crucial normative question of whether globalization represents a good or a bad phenomenon. the process of globalization supplies great window of opportunities for all countries in the future.

globalization furthers the spread of democracy in the world

this claim is anchored in the neoliberal assertion that freedom, free markets, free trade, and democract are synonymous terms.

globalization requires a war on terror

the current war on terror phase has directed focus in theory and practice back to traditional state-centered security concerns and critical investigation of state citizen relations notably in the context of multicultural societies.