Global Issues Exam 1 Flashcards

How does Steger define globalization

the expansion and intensification of social relations across world-space.

What are the four qualities of globalization?

1) Creation of new social networks (e.g. social media),

2) Expansion of social relations (e.g. outsourcing),

3) Intensification of exchanges (e.g. faster communication),

4) Involvement of multiple dimensions (e.g. economics, culture, politics, ecology).

What are the main arguments in favor of globalization?

Increases economic growth, promotes innovation, fosters cultural exchange, enhances global cooperation.

What are the main arguments against globalization?

Leads to income inequality, threatens local cultures, benefits corporations over workers, contributes to environmental degradation.

What are the key historical periods of globalization?

1. Prehistoric (10,000 BCE - 3,500 BCE): Early migration.

2. Premodern (3,500 BCE - 1500 CE): Civilizations and trade routes.

3. Early Modern (1500-1750): European exploration.

4. Modern (1750-1980s): Industrialization and capitalism.

5. Contemporary (1980s-Present): Digital revolution and globalization.

How has globalization evolved from the premodern era to the contemporary period?

from limited regional trade and migration to worldwide economic, cultural, and political interconnectedness with increased speed and intensity due to industrialization and technology.

What factors contributed to the acceleration of globalization in the late 20th century?

Rise of digital technology, spread of neoliberal policies, growth of multinational corporations, fall of trade barriers, advances in transportation and communication.

What role do transnational corporations (TNCs) play in economic globalization?

operate in multiple countries, establish global supply chains, influence trade and labor markets, and drive technological innovation, but may exploit workers and local economies.

How have neoliberal policies shaped the global economy?

promote free markets, deregulation, and reduced government intervention, leading to economic growth but also increasing inequality since the 1980s.

What are some criticisms of economic globalization regarding inequality?

economic globalization widens income gaps between and within nations, concentrating wealth among corporations and elites.

What are some criticisms of economic globalization regarding environmental impact?

increased industrialization, deforestation, and pollution due to global supply chains.

How has globalization affected the power and sovereignty of nation-states?

Global institutions and multinational corporations have reduced individual governments' control over economies and policies, influencing national decision-making.

What is global governance?

international cooperation to manage global issues, with examples being the UN, WTO, IMF, and EU.

Why has there been a rise in nationalism and populism in response to globalization?

Economic hardship, immigration concerns, and the perception that globalization threatens local jobs and cultures

why is globalization considered a contested concept?

different scholars view it in various ways—some see it as a force for economic prosperity, while others criticize it for increasing inequality.

What is one major contradiction of free market ideology according to McMurtry?

It claims to promote efficiency but often leads to monopolies and inequality.

How does the free market contribute to environmental degradation?

Profit-driven motives prioritize short-term gains over sustainable practices.

What solution does McMurtry propose to the problems of free market contradictions?

Ethical and regulatory frameworks to balance profit and social well-being.

Why does Nijhuis argue that Hardin’s “tragedy of the commons” is a flawed idea?

It overlooks historical examples where communities successfully managed shared resources.

What is a key factor in successful commons management?

Community-based rules and governance structures that regulate resource use.

According to Nijhuis, what is the real threat to shared resources?

Privatization and corporate overreach rather than collective mismanagement.

What is Ohmae’s main argument in The End of the Nation State?

Globalization is making nation-states less relevant compared to regional economies.

Why are nation-states losing power, according to Ohmae?

Economic forces such as corporations and financial markets now operate beyond national control.

What governance model does Ohmae suggest for the future?

A system based on economic regions rather than political borders.

True or false: the emergence of capitalist business organizations after 1500 created the necessary conditions for long-distance trade across continents, which was previously completely impossible.

false. Ancient societies routinely engaged in trade and other global exchanges across long distances, long before the emergence of capitalism as an economic and social system.

According to Karl Marx (see Steger, ch. 2), who was responsible for the massive surge in global trade during the nineteenth century?

 

The bourgeoisie, the rising class of merchants and manufacturers

Which of the following is not a characteristic of global connections during the modern period (1750-1980s), according to Steger?

Unification of global belief systems into a common set of religious and moral values

Which of the following best defines a "market economy", in the sense used by economists and theorists?

A society where most things and services are bought and sold for money with minimal restraints

According to Steger, how was "neoliberalism" different from older capitalist economic ideas, like those embodied in the Bretton Woods agreements?

Neoliberalism rejects the idea that states, not markets, are the best way of addressing some economic problems

What does Steger mean when he refers to the "financialization" of the global economy?

Since the 1990s, most financial growth in global markets was linked to investments in financial products like stocks and bonds, currencies, and real estate loans rather than investments in manufacturing capital to hire employees and produce physical goods.

According to Steger, what is significant about the transnational part of the term "transnational corporation" or TNC? Choose all that apply.

TNCs operate in multiple countries, complicating efforts to regulate and tax them

TNCs often merge with major rivals, creating even bigger corporations

TNCs can move factories to countries with lost-cost labor

According to McMurty, market participation isn't truly voluntary because:

people have no choice but to buy and sell to survive in a market society

McMurty argues that the neoliberal idea of a capitalist economy operating free from government interference is a myth, because: (choose all that apply)

-governments provide services like education and elderly care that market forces do not provide

-governments provide services like roads that markets depend on, but don't directly pay for

McMurty argues that the globalization of the market economy creates problems for workers, but benefits capitalists. Which of the following accurately describes one of McMurty's claims in support of this argument? Choose all that apply.

-Capital can cross borders to find lower wages .

-Moving production to low-wage countries creates unemployment in the company's "home" country, driving down wages there too.

-Companies sometimes lower costs by moving to places with weaker protections for workers' health and the environment.

-"Free trade zones" often deny workers the right to form unions.

In economic terms, what is an "externality"?

A cost created by a certain activity that is not paid for by the people or company who create that cost

At a basic level, why do neoliberal economists support global trade? (see Steger, ch. 3)

It expands economic competition across national borders.

According to Emily Ostrom's research on "commons" resources, which of the following are necessary for a community to effectively manage a resource?

-clear boundaries

-conflict resolution system

-punishment for cheaters

Garrett Hardin, author of the original "Tragedy of the Commons" essay, supported this position based on his belief that humans cannot share resources indefinitely: (select all that apply)

-countries should restrict population growth

-countries should not send food aid to other countries

In simple terms, sovereignty is:

the power to be the ultimate decision-maker

According to Steger (chapter 4), the "hyperglobalist" writers believed 

That nation-states were becoming less important or even irrelevant in the face of globalization

Kenichi Ohmae argued that the nation-state was losing significance in the 1990s. Why? Choose all that apply.

-MNCs or TNCs dominated the global economy

-National leaders lack the power to control global economic flows, because capital will flow to less-regulated countries.

-Nation-states are composed of unequal territories, some of which are far richer, more powerful, and better connected to global partners than rural territories.

Kenichi Ohmae argues that one benefit of eroding national power is:

consumers getting more, better, and cheaper products produced in foreign countries.

Steger uses the example of the "Panama Papers" incident in 2016 to highlight:

how wealthy individuals can use global financial flows to avoid national laws and taxes.

According to Steger, how does the Syrian refugee crisis illustrate the impact of political globalization? Choose all that apply.

-Refugees traveled across multiple countries in the hopes of reaching specific destinations like Germany

-The refugee crisis influenced political movements in countries far away from Syria

-Countries outside Syria intervened to support one side or another in the civil war, creating a refugee crisis

-The movement of terrorist organizations alongside refugees forced countries to cooperate on security measures

According to Steger, the Ebola crises in western Africa highlighted:

the importance of international non-governmental organizations (INGOs) in managing global connections, rather than nation states