IAFS 1000 - Midterm 1

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22 Terms

1
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Where did contemporary poverty and inequality come from, given the relative equity in standards of living in 1500s?

The rise of settler & extraction colonialism and the global system promoted rises in inequality in India, Asia, Africa, and Latin American colonies.

2
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Trace the roots of unequal global system to processes of colonialism

The primitive acquisition and slave labor from racial capitalism gave a boost to economies like Europe, Spain, France, Portugal. The economies who had their resource access and economies taken experienced historical disadvantage.

3
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Understand the multiple colonial practices and processes that led to an unequal global system between the global North & South

Settler Colonialism: people move to colonies

Extraction colonialism (extraction colonies): people moving to certain place for a limited amount of time to take resources

4
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How did the US Great Depression led to new economic policies?

In Great Depression, overproduction → goods losing value → businesses stop producing → economy slows down

Keynesian economics as method to increase consumer spending power during a time of economic stagnation. Increase in social spending and government regulation.

5
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Explain the contradiction of capitalism that leads to wages falling and ultimately economic slowdowns

Capitalism maximize profits with increasing productivity, decreasing the costs of productions = lowered wages → less consumer spending power, markets need consumers to function

6
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Understand how new postcolonial states put in place economic policies that began to decrease global inequality

By investing in social systems and creating a market which served society, decreasing imports on foreign markets and making domestic goods cheaper.

7
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meaning of development narratives and discourses

Representations: ways language, signs, symbols, and images can stand for people, cultures, processes, things etc.

Discourse: used to social sciences to stress the role of power in the acquisition of knowledge

Representations and discourses lead to social construction and our interactions with issues.

8
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Consider the effects of development narratives in framing global poverty and its solutions

Paternalistic relationship of North to South which perpetuates racialized and hierarchical ideas → Truman’s 1949 speech

9
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Understand the US’s support of coups in a series of global South countries and the economic consequences of regime change

10
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Outline the shift towards neo-liberal thinking and policies

11
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Understand the ways the debt crisis led to postcolonial countries shifting toward neoliberal economic policies through structural adjustment

12
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Outline and understand neoliberalism as an ideology and as a set of economic practices

13
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Outline the critiques of structural adjustment policies associated with the IMF and World Bank in global South countries

14
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Outline the history of GATT and the WTO

15
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Understand critiques of neoliberal policies under the WTO

16
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Engage with the mechanisms of trade through which global South countries have unequal outcomes

17
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Trace rise of neoliberalism in US/UK

18
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Map out and consider critiques of WTO and neoliberalization of trade, in general and in relation to South Korea

19
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Understand some of the ways that various types of corruption/illicit activity shape global financial flows and economic inequities

20
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Understand larger urbanization trends between global south and global north and the drivers of these differences

21
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Connect urbanization in the global south to histories of colonialism and structural adjustment, creating dual cities and large migration to cities

22
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Relate contemporary world-class city-making and demolitions through the case study of Delhi