Globaliztion, Inequality, and Development chapter 9
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| imperialism | is the economic domination of one country by another
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| global commodity chain | is worldwide network of labor and production process whose end result is a finished commodity
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| transnational corporations | are large businesses that rely increasingly on foreign labor and foreign production; skills and advances in design, technology, and management; world markets; massive advertising campaigns. They are increasingly autonomous from national governments.
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| McDonalization | is a from of rationalization. It refers too the spread of the principles of fast-food restaurants, such as efficiency, predictability, and calculability, to all spheres of life
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| globalization | is the simultaneous homogenization of some aspects of life and the strengthening of some local differences under the impact of globalization
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| regionaliztion | is the division of the world into different and often competing economic, political, and cultural areas
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| colonialism | involves the control of developing societies by more developed, powerful societies
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| modernization theory | holds the economic underdevelopment results from poor countries lacking Western attributes. These Western attributes include Western values, business practices, levels of investment capital, and stable governments
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| dependency theory | views economic underdevelopment as the result of exploitative relations between rich and poor countries
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| core capitalist countries | are rich countries, such as the U.S, japan, and Germany, that are the major sources of capital and technology in the world
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| peripheral capitalist countries | are former colonies that are poor and are major sources of raw materials and cheap labor
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| semiperipheral capitalist countries | such as South Korea, Taiwan, and Israel, consist of former colonies that are making considerable headway in the attempts to industrialize
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| neoliberal globalization | policy that promotes private control of industry; minimal government interference in the running of the economy; the removal of taxes, tariffs, and restrictive regulations that discourage the international buying and selling of goods and services
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