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20 Cards in this Set
- Front
- Back
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Capitalist World Economy
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a single world system committed to production for sale or exchange, with the object of maximizing profits, rather than supplying domestic needs
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Capital
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wealth or resources invested in business, with the intent of using the means of production to make a profit
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World System Theory
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indentifiable social system, based on wealth and power differentials, extends beyond individual countries
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Core
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geographic center, the strongest and most powerful nations (Wallersteins hypothesis)
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Semiperiphery
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intermediate between the core and the periphery, contemporary nations that are industrialized (Wallersteins hypothesis)
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Periphery
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world's least privileged and powerful countries, economic activity is less mechanized (Wallersteins hypothesis)
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Monocrop Production
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plantation economy based on a single cash crop
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Industrial Revolution
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the historical transformation in Europe of traditional --> modern societies through industrialization of the economy... required capital for investment and transoceanic trade
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Causes of the Industrial Revolution
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1) population boom, immediate need for more products
2) natural resources such as coal and iron ore |
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Bourgeoisie
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owners of the factories, mines, large farms, and other means of production... upper class
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Proletariat
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Working class, made up of people who had to sell their labor to survive
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Imperialism
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a policy of extending the rule of a country or empire over foreign nations and taking and holding foreign colonies
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Colonialism
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the political, social, economic, and cultural domination of a territory and its people by a foreign power for an extended time
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Indirect Rule
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governing through native leaders and established political structures
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Direct Rule
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imposed new government structures to control diverse societies
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Postcolonial
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the study of the interactions between European nations and the societies they colonized, term used to describe the second half of the 20th century, used to signify a position against imperialism and Eurocentrism
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Intervention Philosophy
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ideological justification for outsiders to guide native people in specific directions
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Neoliberalism
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the current form of the classic economic liberalism, laissez-faire economics as the basis of capitalism, economic liberalism
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Communism
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social system in which property is owned by the community and in which people work for the common good, a political movement and doctrine seeking to overthrow capitalism
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Indigenous Peoples
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original inhabitants of their territories, descendants of tribespeople live on as culturally distinct and self-conscious colonized peoples
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