Globalization in Historical Perspective II - The Post-War Order

A collection of vocabulary flashcards based on the concepts discussed in the lecture on globalization and the post-war order.

Globalization

The process by which businesses or other organizations develop international influence or operate on an international scale.

Hegemonic Stability Theory

A theory that states if one country is powerful enough to maintain a stable world economy, it is more likely to promote the public good.

Hegemon

A dominant leader or ruling power, often used in the context of global politics and economics.

Bretton Woods System

An international monetary system established after World War II that created fixed exchange rates and established the IMF and World Bank.

Unipolarity

A global power structure where one nation holds most of the cultural, economic, and military influence.

Multipolarity

A system in which multiple countries have nearly equal amounts of military, cultural, and economic influence.

Treaties

Formal agreements between countries that are legally binding in international law.

The Truman Doctrine

A U.S. policy established in 1947 to contain the spread of communism by providing military and economic assistance to countries resisting Soviet influence.

Collective Security

A security arrangement in which a group of nations agrees to respond together to threats to peace.

World Bank

An international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.

International Monetary Fund (IMF)

An international organization working to foster global monetary cooperation, secure financial stability, facilitate international trade, and reduce poverty.

Welfare State

A government that undertakes responsibility for the welfare of its citizens through programs in public health, public housing, and pensions.

The Washington Consensus

A set of ten economic policy reforms widely used to guide development policies in developing countries.

Trade Blocs

Groups of countries that have formed a partnership to promote trade among themselves by reducing tariffs and other barriers.

Import Substitution Industrialization (ISI)

An economic policy that advocates replacing foreign imports with domestic production.

Golden Age of the Global Economy

A period of high economic growth from 1950 to 1973 characterized by rapid trade growth and economic convergence.

Stagflation

An economic condition where stagnant economic growth, high unemployment, and high inflation occur simultaneously.

Floating Exchange Rates

A currency system where the value of a currency is determined by the market forces of supply and demand.

East Asian Economic Miracle

The period of rapid economic growth in East Asian countries, particularly post-World War II.

Globalization

The process by which businesses or other organizations develop international influence or operate on an international scale.

Hegemonic Stability Theory

A theory that states if one country is powerful enough to maintain a stable world economy, it is more likely to promote the public good.

Hegemon

A dominant leader or ruling power, often used in the context of global politics and economics.

Bretton Woods System

An international monetary system established after World War II that created fixed exchange rates and established the IMF and World Bank.

Unipolarity

A global power structure where one nation holds most of the cultural, economic, and military influence.

Multipolarity

A system in which multiple countries have nearly equal amounts of military, cultural, and economic influence.

Treaties

Formal agreements between countries that are legally binding in international law.

The Truman Doctrine

A U.S. policy established in 1947 to contain the spread of communism by providing military and economic assistance to countries resisting Soviet influence.

Collective Security

A security arrangement in which a group of nations agrees to respond together to threats to peace.

World Bank

An international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.

International Monetary Fund (IMF)

An international organization working to foster global monetary cooperation, secure financial stability, facilitate international trade, and reduce poverty.

Welfare State

A government that undertakes responsibility for the welfare of its citizens through programs in public health, public housing, and pensions.

The Washington Consensus

A set of ten economic policy reforms widely used to guide development policies in developing countries.

Trade Blocs

Groups of countries that have formed a partnership to promote trade among themselves by reducing tariffs and other barriers.

Import Substitution Industrialization (ISI)

An economic policy that advocates replacing foreign imports with domestic production.

Golden Age of the Global Economy

A period of high economic growth from 1950 to 1973 characterized by rapid trade growth and economic convergence.

Stagflation

An economic condition where stagnant economic growth, high unemployment, and high inflation occur simultaneously.

Floating Exchange Rates

A currency system where the value of a currency is determined by the market forces of supply and demand.

East Asian Economic Miracle

The period of rapid economic growth in East Asian countries, particularly post-World War II.

Cold War

A period of geopolitical tension between the United States and the Soviet Union and their respective allies, lasting from the end of World War II until the early 1990s, characterized by an arms race and proxy wars rather than direct military conflict.

United Nations (UN)

An international organization founded in 1945 after World War II to promote international cooperation and maintain international peace and security.

Neoliberalism

A political and economic philosophy that generally favors free markets, privatization, deregulation, and reduced government spending on social programs.

Dependency Theory

A theory suggesting that resources flow from a "periphery" of poor and underdeveloped states to a "core" of wealthy states, enriching the latter at the expense of the former.

Global Governance

The sum of the many ways individuals and institutions, public and private, manage their common affairs, encompassing formal and informal arrangements, as well as institutional and non-institutional mechanisms.

Globalization

The process by which businesses or other organizations develop international influence or operate on an international scale.

Hegemonic Stability Theory

A theory that states if one country is powerful enough to maintain a stable world economy, it is more likely to promote the public good.

Hegemon

A dominant leader or ruling power, often used in the context of global politics and economics.

Bretton Woods System

An international monetary system established after World War II that created fixed exchange rates and established the IMF and World Bank.

Unipolarity

A global power structure where one nation holds most of the cultural, economic, and military influence.

Multipolarity

A system in which multiple countries have nearly equal amounts of military, cultural, and economic influence.

Treaties

Formal agreements between countries that are legally binding in international law.

The Truman Doctrine

A U.S. policy established in 1947 to contain the spread of communism by providing military and economic assistance to countries resisting Soviet influence.

Collective Security

A security arrangement in which a group of nations agrees to respond together to threats to peace.

World Bank

An international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.

International Monetary Fund (IMF)

An international organization working to foster global monetary cooperation, secure financial stability, facilitate international trade, and reduce poverty.

Welfare State

A government that undertakes responsibility for the welfare of its citizens through programs in public health, public housing, and pensions.

The Washington Consensus

A set of ten economic policy reforms widely used to guide development policies in developing countries.

Trade Blocs

Groups of countries that have formed a partnership to promote trade among themselves by reducing tariffs and other barriers.

Import Substitution Industrialization (ISI)

An economic policy that advocates replacing foreign imports with domestic production.

Golden Age of the Global Economy

A period of high economic growth from 1950 to 1973 characterized by rapid trade growth and economic convergence.

Stagflation

An economic condition where stagnant economic growth, high unemployment, and high inflation occur simultaneously.

Floating Exchange Rates

A currency system where the value of a currency is determined by the market forces of supply and demand.

East Asian Economic Miracle

The period of rapid economic growth in East Asian countries, particularly post-World War II.

Cold War

A period of geopolitical tension between the United States and the Soviet Union and their respective allies, lasting from the end of World War II until the early 1990s, characterized by an arms race and proxy wars rather than direct military conflict.

United Nations (UN)

An international organization founded in 1945 after World War II to promote international cooperation and maintain international peace and security.

Neoliberalism

A political and economic philosophy that generally favors free markets, privatization, deregulation, and reduced government spending on social programs.

Dependency Theory

A theory suggesting that resources flow from a "periphery" of poor and underdeveloped states to a "core" of wealthy states, enriching the latter at the expense of the former.

Global Governance

The sum of the many ways individuals and institutions, public and private, manage their common affairs, encompassing formal and informal arrangements, as well as institutional and non-institutional mechanisms.

Transnational Corporations (TNCs)

Companies that operate in several countries, playing a significant role in global production, trade, and finance, often influencing economic and political affairs.

World Trade Organization (WTO)

An international organization that regulates and facilitates international trade, aiming to reduce barriers to free trade and resolve trade disputes among member states.

Sovereignty

The full right and power of a governing body over itself, without any interference from outside sources or bodies. In international law, it refers to the independent authority of a state.

Economic Inter