Ps 221 Midterm Exam

Front 1

Commodity Chains

Back 1

Is a sequence of production statges, used by firms to gather resources, transform them into goods or commodities, and finally, distribute them to consumers.

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Progress

Back 2

Growth or development

Front 3

The Development Project

Back 3

Was an Internationally organized strategy for stimulating nationally managed economic growth.

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The Globalization Project

Back 4

Was the implementation of a free world market

Front 5

Eurocentric Modernity

Back 5

is a paradigm and formulates that the phenomena of modernity is exclusively European.

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John Maynard Keynes

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British economist, architect of the postwar world economic order.

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Milton Friedman

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An American economist who received the 1976 Nobel Memorial Prize in economic science. He wrote the article titled "Capitalism and Freedom"

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Neoliberalism

Back 8

Political form of neoclassical economic theory, took universal shape in welfare reform/reversal, wage erosion, relaxing trade controls, and privatization schemes

Front 9

Deregulation

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Is a process of removing or reducing state regulations typically in the economic sphere. legitimized by neoliberal economic theory.

Front 10

Privatization

Back 10

Is the transfer of ownership of property or businesses from government/publicly traded and owned company to privately owned and no longer trades publicly.