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30 Cards in this Set
- Front
- Back
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The three primary trading blocks
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N and S America (united states) Europe (Germany), and Asia (Japan,china)
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Benefit of global capitalism
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Production moves to countries w/ low labor costs. Provides them jobs. Displaced workers shift into service and hi-tech jobs.
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Areas of US economy affected
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Plant closings no US, small towns, due to urbanization
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Urbanization
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Process by which an increasing population is moving to cities. This is gradually changing culture.
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Multi international corporations
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US used to dominate with number of corps but China is rising.
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Negative aspect of multicorps
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Head of company's have access to politicians and they use this to promote favorable legislation. Sometimes sinister approaches.
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Global superclass
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Small group of highly interconnected people who make the worlds decisions
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Global investing negatives
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Investors become detached from cultures and country of origin. No concern for conseq just profits.
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Global marketing contrasts
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Could result in more unification uniting nations and producing global peace. BUT also could result in a small elite dominating new world order.
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Quiet revolution
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Fundamental changes in society when women enter the workforce
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Underground economy
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Exchanges of goods/services not reported and escape taxation.Ex: illegal immigrants or undocumented workers
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Largest source of illegal income
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Drug dealing
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The average workers purchasing power has increased only approx .29 between 1970-2007
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True
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Evan in today's economy, the poor get poorer and the rich get richer
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True
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Economis system development
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As surplus materials developed, trade developed ~ social inequality as some accumulated more than others. Service indust dominates post industrial societies
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Medium of exchange
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Bartered goods, money( currency representing gold or silver on deposit), currently credit cards, debit cards, ecash
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Corporate capitalism
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Giant corps dominate capitalism, power and wealth so concentrated that a global superclass has arisen.
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Elements of workforce change
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Farmers declined, blue collar has shrunk, most people work service jobs
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Leisure time
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Small children and older people have most leisure time. American and Japanese have the longest work week. Germany among the shortest.
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Underground economy
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Exchanges of goods/services not reported and escape taxation.Ex: illegal immigrants or undocumented workers
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Global capitalism
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Has brought a resurgence of the wealthy getting the largest share of economic pie and the poorest, less than ever.
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Largest source of illegal income
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Drug dealing
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The average workers purchasing power has increased only approx .29 between 1970-2007
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True
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Evan in today's economy, the poor get poorer and the rich get richer
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True
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Economis system development
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As surplus materials developed, trade developed ~ social inequality as some accumulated more than others. Service indust dominates post industrial societies
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Medium of exchange
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Bartered goods, money( currency representing gold or silver on deposit), currently credit cards, debit cards, ecash
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Corporate capitalism
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Giant corps dominate capitalism, power and wealth so concentrated that a global superclass has arisen.
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Elements of workforce change
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Farmers declined, blue collar has shrunk, most people work service jobs
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Leisure time
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Small children and older people have most leisure time. American and Japanese have the longest work week. Germany among the shortest.
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Global capitalism
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Has brought a resurgence of the wealthy getting the largest share of economic pie and the poorest, less than ever.
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