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7 Cards in this Set

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Colonialism
The political conquest of a society by another followed bysocial domination and forced political change
Neocolonialism
New nation-states continue to be economically dependent on and controlled by former colonial powers
Modernization theory
New independent nation-states should follow example of developed countries to create Prosperous economies based on industrial production capitalism, No short cuts to prosperity
Dependency theory
Poverty of former colonies is attributable to the colonial capitalist system. Rich countries became rich because they exploited poorer countries.
Neoliberalism:
Each country responsible for finding its niche in the global capitalist market Govs. subsidize economic activities and cut social programs for poor to do so.
World Systems Theory (Immanuel Wallerstein)
Expanded Marxist critique of colonial capitalism claiming that capitalism itself was a “world system”
World is united under a single economic system.
Core=high profit consumption goods to periphery/semi Semiperiphery=constantly changing economic system(colonies)
Periphery=produce cheap labor/raw materials
Commodity chains:
All the way from the raw material, every thing that happens to it in-between and then the finished product.