Contemporary World Globalization Lecture Notes

A set of vocabulary flashcards covering the key concepts, definitions, historical phases, and theories of Contemporary World Globalization based on the provided lecture notes.

Globalization (General Definition)

A planetary process involving increasing liquidity and growing multidirectional flows, as well as the structures they encounter and create.

Globalization (Theodore Levitt, 1983)

Refers to the integration of markets on a global scale.

Globalization (Manfred Steger, 2012)

Refers to the expansion and intensification of social relations and consciousness across world-time and world-space.

Globalization (Thomas Larrson, 2001)

The increasing ease with which somebody on one side of the world can interact, to mutual benefit, with somebody on the other side of the world.

Transnationalism

Processes that interconnect individuals and social groups across specific geopolitical borders.

Transnationality

The rise of new communities and the formation of new social identities and relations that cannot be defined through the traditional reference point of nation-states.

Globality

The omnipresence of the process of globalization.

Solidity

A metaphor for people, things, information, and places that "harden" over time and therefore have limited mobility.

Liquidity

The increasing ease of movement of people, things, information, and places in the global age.

Flows

The movement of people, things, information, and places due, in part, to the increasing porosity of global barriers.

Economic globalization

Growing economic linkages at the global level.

Structural Barriers

Barriers that serve to differentiate and subordinate people on the basis of social class, race, ethnicity, gender, age, sexual orientation, and global region.

Globalization 1.0

The period of globalization from $1492$ to $1800$, as categorized by Thomas L. Friedman.

Globalization 2.0

The period of globalization from $1800$ to $2000$, as categorized by Thomas L. Friedman.

Globalization 3.0

The period of globalization from $2000$ to the present, as categorized by Thomas L. Friedman.

Archaic Globalization

Globalizing events and developments from the time of the earliest civilizations until roughly the $1600s$, characterized by universalizing kingship, expansion of religious movements, and medicinal understanding.

Proto-Globalization

A phase of increasing trade links and cultural exchange spanning roughly between $1600$ and $1800$, introduced by A. G. Hopkins and Christopher Bayly.

Columbian Exchange

The widespread exchange of plants, animals, foods, human populations, diseases, and culture between the Eastern and Western hemispheres during Proto-Globalization.

Modern Globalization

A phase beginning in the $19th$ century characterized by industrialization and the later emergence of the United States as a global power, multinational corporations, and the fall of the Soviet Union.

Theorizing Globalization

The different ways scholars explain how globalization began, developed, and affected societies.

Imperialism

Methods employed by one nation-state to gain power over an area and exercise control over it; Vladimir Lenin defined it as the highest stage of capitalism.

Colonialism

Generally involves settlers and formal mechanisms of political control where the colonizer creates an administrative apparatus to run internal affairs within the colonized country.

Decolonization

The process of revealing and dismantling colonialist power in all its forms, including hidden institutional and cultural forces that remain after political independence.

Post-Colonialism

Developments that take place in a former colony after the colonizing power departs.

Development

A project primarily concerned with the economic development of specific nations that were not regarded as sufficiently advanced economically.

Import-substitution

Encouraging countries to develop their own industries instead of producing for export and relying on imports.

Foreign direct investment (FDI)

Investment by a firm in one nation-state in a firm in another nation-state with the intention of controlling it.

Dependency theory

The idea that the development of the nation-states of the South contributed to a decline in their independence and an increase in their dependence on the North.

World Systems Theory

The theory that the world is divided mainly between the core, semi-periphery, and periphery based on their economic, political, and technological roles.

Core countries

The wealthiest, dominant capitalist, and most industrialized countries that own most of the world’s capital and technology while exploiting the periphery.

Semi-Periphery countries

Industrializing, mostly capitalist nations that share characteristics of both core and periphery countries, such as manufacturing capacity and some reliance on low-wage labor.

Periphery countries

The least-developed, low-income or middle-income countries that provide labor and raw materials to core countries and depend on them for capital.

Americanization

The spread of American culture and the imports by non-Americans that are closely associated with America or Americans.

Neoliberalism

A political and economic philosophy believing that free markets, private businesses, and limited government intervention are the best ways to promote economic growth.

Deregulation

A commitment by nation-states to limit or eliminate restraints on the free market and free trade.

Privatization

The process of transferring ownership or control of a government-owned enterprise or service to the private sector.

Neo-Marxian Theory

A theory arguing that globalization mainly benefits wealthy countries and multinational corporations while exploiting poorer countries through global capitalism.

Transnational Capitalism

A concept in Neo-Marxian theory where corporations operate globally.

Empire (in Globalization Theory)

The exercise of global power by multinational corporations, international organizations, and powerful states.