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Globaliztion, Inequality, and Development chapter 9

imperialism is the economic domination of one country by another
global commodity chain is worldwide network of labor and production process whose end result is a finished commodity
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.
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
globalization is the simultaneous homogenization of some aspects of life and the strengthening of some local differences under the impact of globalization
regionaliztion is the division of the world into different and often competing economic, political, and cultural areas
colonialism involves the control of developing societies by more developed, powerful societies
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
dependency theory views economic underdevelopment as the result of exploitative relations between rich and poor countries
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
peripheral capitalist countries are former colonies that are poor and are major sources of raw materials and cheap labor
semiperipheral capitalist countries such as South Korea, Taiwan, and Israel, consist of former colonies that are making considerable headway in the attempts to industrialize
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
Created by: pinkdyme91