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World Politics

Frieden/Lake/Schultz World Politics Ch. 1

TermDefinition
Mercantilism An economic doctrine based on the idea that military power and economic influence were compliments. Mercantilist policies favor the mother country over its colonies and competitors. Goal: make money for the mother country.
Peace of Westphalia Settlement which ended the Thirty Years' War in 1648. It included general principles of sovereignty and non-intervention and perhaps created the modern state system.
Sovereignty In the simplest terms, can also be defined as autonomy, independence, or self government. States are the supreme authority within their own boundaries. Sovereignty basically means independence.
Hegemony When one state is dominant over others. Example: Britain after they defeated Napoleon in 1815.
Pax Britannica "British Peace" between 1815-1914. during this time, Britain's economic/diplomatic influence contributed to economic openness and relative peace.
Gold standard Between 1870 and 1914, countries tied their currencies to gold at legally fixed prices.
Treaty of Versailles Treaty between the Allies and Germany which ended World War 1. June 28, 1919.
League of Nations International security organization founded after WW1. It was replaced by the United Nations after WW2.
NATO North Atlantic Treaty Organization. Created in 1949, it joined most of Western Europe, the United States, and Canada and formed the American-led military bloc during the Cold War. NATO is still around, and deals with regional problems, among other things.
Bretton Woods System Economic order negotiated among allied nations, led to a series of cooperative arrangements involving commitments to relatively low barriers on international trade/investment.
Warsaw Pact Formed in 1955. Brought together the Soviet Union and its Cold War allies (including Algeria, Libya, Mali, Iraq, Cuba, Mongolia, and others)
Decolonization Getting rid of colonial possessions, especially those of the European empires between the 1940's and 1960's.
Created by: colbyc22