The Contemporary World

contemporary

contemporary

means "modern" or "present"

politics, economy, environment, and culture

contemporary concerns different issues such as...

globalization

a process of interaction and integration among the people, companies, and governments worldwide.

Manfred B. Steger

"the expansion and intensification of social relations and consciousness across world time and world space."

Kenichi Ohmae

"globalization means the onset of the borderless world."

Martin Albrow

"all those processes by which the peoples of the world are incorporated into a single world society."

Anthony Giddens

"globalization can thus be defined as the intensification of worldwide social relations which link distant localities in such as way that local happenings are shaped by events occurring many miles away and vice versa."

globalizers, skeptics, and rejectionists

conceptions about globalization

globalizers

they argue that globalization is a profoundly transformative set of social process that is moving us into a new chapter of human history.

rejectionists

they contend that existing accounts of globalization are incorrect and exaggerated.

skeptics

they claim that the world is not a truly global phenomenon, but one centered on Europe, East Asia, and North America.

increase in international trade increase in international flow of capital greater transborder data flow greater international cultural exchange spreading of multiculturalism greater international travel and tourism greater immigration

signs of globalization

economic, political, cultural, and ecological

dimensions of globalization

economic dimension

intensification and stretching of economic interrelations across the globe.

political dimension

expansion and acceleration of political relations and interdependencies across the world-time and world-space.

cultural dimension

influences the used of language, the shape of world religions, global media, food, and other numerous other aspects of global public life.

ecological dimension

highlights the increasing interconnections across national boundaries.

cold war

battle of capitalist and communist nations.

capitalism

no control of the government.

laissez faire

free-market with no intervention of the government.

ideology

a system of widely shared ideas, patterned beliefs, guiding norms and values, and ideas accepted as truth by a particular group of people.

market globalism

a hegemonic system of ideas that makes normative claims about a set of social processes called globalization.

price interdependence

the price change in one market affects the prices in other markets.

social imaginaries

are deep-seated modes of understanding that provides the most general parameters within which people imagine their communal existence.

social imaginaries

neither theories nor ideologies.

Charles Taylor (2004)

"Social imaginaries offers explanation of how 'we' - the members of a particular community - fit together.

globalization is about the liberalization and global integration of markets

claim 1 of market globalization

globalization is inevitable and irreversible

claim 2 of market globalization

nobody is in charge of globalization

claim 3 of market globalization

globalization benefits everyone... in the long run

claim 4 of market globalization

globalization furthers the spread of democracy in the world

claim 5 of market globalization

globalization requires a global war on terror

claim 6 of market globalization

goods

the products that will be sold.

services

work done or duties served for another person.

producer

person who makes products.

consumer

the person that buys products.

law of supply and demand

relationship of the price of a good or product and the willingness of people to either buy or sell it.

scarcity

not enough resources to fill human wants and needs.

oikos and nomos

economy is composed of 2 greek words such as

house management

oikos and nomos translated to...

silk road

the oldest known international trade route.

silk road

trade route from 130 bce to 1453bce.

galleon trade

a trade agreement during the Spanish colonization from 16th to 18th century.

mercantilism

forbidding colonies to trade with other nations and trade routes.

The Bretton Woods System

set up a network of global financial institutions that would promote economic interdependence and prosperity.

The Bretton Woods System

created in a 1944 conference of all of the WW2 allied nations.

world bank

an international agency with 189 member countries.

world bank

formed in 1944 to finance the reconstruction of war-torn countries after WW2.

international monetary fund

institutions that supervise the exchange rate system, and international payments.

general agreement on tariffs and trade

institution that promotes international trade by reducing or eliminating trade barriers.

neoliberalism

concept of free trading, wherein government intervention is lessened.

trade protectionism

policy of a planned economy.

trade protectionism

a policy that protects domestic industries from unfair competition from foreign ones

tariffs

a tax imposed upon the entry of foreign product on national borders.

subsidies

a direct or indirect payment to individual or firms.

quotas

policy that puts limit on the quantity of products that can be imported and exported.

trade liberalization

policy of a free market.

trade liberalization

a policy to eliminate discrimination against imports and exports.

market

a place where exchange takes place.

sellers

people communicating their offerings, price, and availability.

buyers

people that purchases products by paying money.

market integration

a phenomenon in which markets of goods and services that are related to one another experience similar pattern in the context of price.

Faminow and Benson

"integrated markets are those where prices are determined interdependently."

Goodwin and Schroeder

"markets that are not integrated may convey inaccurate price information which might distort producer marketing decision."

multinational companies

places multiple production facilities in multiple countries under the control of a single corporate structure.

transnational companies

have a central corporate facility but give decision-making, research and development, and etc. to each individual foreign market.

internationalization of trade and labor

the change in geographical pattern of specialization of the global scale.

specialization

a method of production whereby, an entity focuses on the production of limited space of goods to gain greater degree of efficiency.

offshoring

production operations are performed in another country by the same company.

outsourcing

when a company entrusts a part of their business process to an outside vendor/another country.

increased choice greater potential for growth greater employment opportunities

advantages of economic globalization

increase in gap between the rich and the poor lack of opportunities for the poor to have access for markets exploitation of workers and growers

disadvantages of economic globalization

Arjun Appadurai (1996)

"the nation-state, as a complex modern political form, is on its last legs."

Kenichi Ohmae (1995)

"economic interdependence and global communication had rendered the nation-state a nostalgic."

Slaughter (2004)

"new world order"

Shaw (2000)

"global state"

coercive authority over specific territories independent political communities with governments an imagined political community

nation-state

Max Weber

"coercive authorities over specific territories."

Hedley Bull

"independent political communities with government."

Benedict Anderson

"an imagined political community"

governed through nation-states states are considered sovereign international organizations and institutions facilitate relations between states international organizations and institutions promote norms.

attributes of modern international politics

The Peace of Westphalia

package of treaties that ended the 30 years European wars of religion.

the principle of state sovereignty the principle of legal equality of states the principle of non-intervention of one state in the internal affairs of another

core points of Westphalia Treaty

Immanuel Kant

"the idea of common international principles"

Giuseppe Mazzini and Woodrow Wilson

"cooperation and respect among nation-states"

Woodrow Wilson

"promotion of global democracy."

Jeremy Bentham

coined the term international

League of Nations

founded in the 1919 paris conference after WW1.

League of Nations

aimed at maintaining world peace through international arbitration.

Karl Marx

proponent of The Socialist International

The Socialist International

organization of labor and socialist parties, mainly in Europe.

8-hour working day, international women's day, and labor day

achievements of The Socialist International

The Socialist International

collapsed in 1916 as its member parties supported the war efforts of their respective states.

Communist International

central body for all communist parties across the world.

Communist International

dissolved in 1943 to appease Allied Powers.

Ho Chi Minh

"yet in our discussion of the revolution, you neglect the colonies, while capitalism uses them to support itself, define itself and fight you."

fascism

both variants of internationalism is an attack on the nation - Hitler

United Nations

created to preserve peace after the war and reinforce principles of sovereignty and non-intervention.

Imperial powers were in ruin and could not maintain colonies wartime defeats exposed the weakness of imperial powers wartime heroes in the colonized world became prominent

decolonization after the war

The Bandung Conference

29 countries gathered in Indonesia to discuss the fight against colonialism.