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12 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Neoliberalism
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-Free Trade
-Limited Gvt control - Competition - Market-centered -Laissez Faire |
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Dependency Theory / Marxism
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the notion that resources flow from a "periphery" of poor and underdeveloped states to a "core" of wealthy states, enriching the latter at the expense of the former. It is a central contention of dependency theory that poor states are impoverished and rich ones enriched by the way poor states are integrated into the "world system".
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-Core/ Periphery
-Only way for Periph. to get wealth is through a total overthrow of capitalism |
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Bretton Woods institutions
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Bretton Woods institutions
(1) International Monetary Fund (2) World Bank (3) World Trade Organization |
The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states.
-The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained the exchange rate of its currency within a fixed value—plus or minus one percent—in terms of gold and the ability of the IMF to bridge temporary imbalances of payments. |
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International Monetary Fund
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REGULATES CURRENCY
-An international organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rate and the balance of payments. It is an organization formed with a stated objective of stabilizing international exchange rates and facilitating development.[3] It also offers highly leveraged loans, mainly to poorer countries. |
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World Bank
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The World Bank has a stated goal of reducing poverty.
-The World Bank Group works to reduce poverty and contribute to sustainable development |
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World Trade Organization
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The World Trade Organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalising trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments
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UN efforts to alleviate global inequality
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(1) New International Economic Order
(2) The 0.7% target (3) Millennium Development Goals |
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The 0.7% target
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Over the past 35 years, the members of the UN have repeatedly made a "commit[ment] 0.7% of rich-countries' gross national product (GNI) to Official Development Assistance."[21] The commitment was first made in 1970 by the UN General Assembly.
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-1970— The UN agreed that 0.7 % of wealth will be collected/ generated from the wealthy countries and would be put in a “basket” and somehow allocated the poorer countries. – But something is wrong in the system. This did not happen. Even the US did not offer the 0.7%
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Millennium Development Goals
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eight international development goals that all 192 United Nations member states and at least 23 international organizations have agreed to achieve by the year 2015. They include reducing extreme poverty, reducing child mortality rates, fighting disease epidemics such as AIDS, and developing a global partnership for development
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- United Nations Millennium Declaration
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Obstacles for poverty eradication
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Obstacles for poverty eradication
(1) Definition of poverty (2) Disagreements about international society’s responsibility (3) Capacity of international institutions (4) Lack of will of major powers |
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Challenges of the Millennium Goals
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Although developed countries' aid for the achievement of the MDGs have been rising over the recent year, it has shown that more than half is towards debt relief owed by poor countries. As well, remaining aid money goes towards natural disaster relief and military aid which does not further the country into development. According to the United Nations Department of Economic and Social Affairs (2006), the 50 least countries only receive about one third of all aid that flows from developed countries, raising the issue of aid not moving from rich to poor depending on their development needs but rather from rich to their closest allies
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Critiques of Millennium Goals
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-Top-Down
-Sustainability -World Morale if not met -Were they too ambitious? |
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