Terms And Definitions - Chapter 9

Front 1

Define "developed world."

Back 1

Industrialized nations that are part of a structurally integrated system of global capitalism; includes the countries of Western Europe and North America, Japan, Australia, and New Zealand; also known as developed countries (DCs), industrialized world, the North, and the First World.

Front 2

Define "developing world."

Back 2

Nations that are less developed than the industrialized countries and that are not part of a structurally integrated system of global capitalism.

Front 3

What is "the North?"

Back 3

Industrialized nations, including Western Europe, North America, Japan, Australia, and New Zealand, that are part of a structurally integrated system of global capitalism.

Front 4

Define post-industrial.

Back 4

Developed economies that maintain a high-technology, or high-value, economy.

Front 5

What is the Third World?

Back 5

Largely Cold War categorization of less developed nations that are not part of a structurally integrated system of global capitalism.

Front 6

What was the interwar period?

Back 6

The years between the two world wars: 1919-1939.

Front 7

Define autarky.

Back 7

Condition of complete self-sufficiency and isolation from the rest of the system.

Front 8

What is colonialism?

Back 8

Exploitation of a weaker country or countries by a stronger country or countries for political, strategic, or resource interests.

Front 9

What is imperialism?

Back 9

The extension of one country's authority over another, through conquest or political and/or economic control.

Front 10

What is the Bretton Woods Agreement?

Back 10

Post-war system of fixed exchange rates and heavy controls on private banks and other financial institutions, thereby limiting their roles in international finance.

Related to concerns about autarky in the post-war period.

Front 11

What is regional integration?

Back 11

Economic or political integration in a defined territorial area.

Front 12

What is the North Atlantic triangle?

Back 12

Geographic region of Canada, the US, and the EU; most significant and strategic modes of interaction for each other; historically, the relationship between Canada, the US, and the UK.

Front 13

What is a foreign direct investment or FDI?

Back 13

Investment in real foreign assets, such as domestic structures, equipment, and organizations.

Front 14

What is a middle power?

Back 14

A country that does not have great power or superpower status, but has significant influence in international relations.

Front 15

What are international organizations, or IOs?

Back 15

International groupings, governmental or non-governmental, with activities in several states.

Front 16

What is the Electoral College?

Back 16

In the US, officials chosen from each state who directly elect the president and vice-president; the number of officials in each state is based on population.

Front 17

What was the transatlantic bargain?

Back 17

A post-war arrangement whereby former great powers of Europe conceded to American leadership in exchange for US support of European economic and military stability.

Front 18

Define hegemon.

Back 18

One country with inordinate capability to uphold and protect the global system.

Front 19

What is a recession?

Back 19

A decline in economic productivity or affluence; specifically, a decline in GDP for two or more consecutive fiscal quarters.

Front 20

Define neo-conservative.

Back 20

An advocate of the return to conservative values or policies.

Front 21

What is Diet?

Back 21

The Japanese Parliament.

Front 22

What is a feudal system?

Back 22

A political or social system based on the relationship between landholders and those with permission to use and live on the property in exchange for fees, political loyalties, or other commitments.

Front 23

What was the Yoshida Doctrine?

Back 23

A post-war Japanese political and economic policy intended to establish a more non-interventionist role in international affairs, support the US as hegemon in the global system, deepen links with the Americans, and focus on the domestic economy of Japan, as a means of reassembling power and influence.

Named after Japan's post-war PM, Shigeru Yoshida.

Front 24

What are emerging markets?

Back 24

Poorer economies with potential for future growth.

Front 25

What is a tariff?

Back 25

A duty placed on a particular categorization of imported or exported goods or services.

Front 26

Define "keiretsu."

Back 26

A business group or set of companies found in Japan that work together in decision-making and production to provide increased benefits for all.

Front 27

What is functionalism?

Back 27

Collective approach to provide a full range of social and welfare services through functionally specific international organizations.

Front 28

What is institutionalism?

Back 28

A belief in utility of institutions to provide collective goods.

Front 29

What was the Treaty of Paris?

Back 29

European treaty of April 1951 that created the European Coal and Steel Community (ECSC).

Front 30

What is the European Coal and Steel Community, or ECSC?

Back 30

The first institutional version of European integration; formed in 1951 by Belgium, the Netherlands, Luxembourg, France, West Germany, and Italy.

Front 31

What is a common market?

Back 31

An economic arrangement among states intended to eliminate barriers that inhibit the movement of factors of production - labour, capital, and technology - among its members.

Front 32

Define supranational.

Back 32

International organization or union in which decision-making is shared by all members.

Front 33

What was the European Economic Community, or EEC?

Back 33

Formed in 1958, second institutional version of European integration; involved Belgium, the Netherlands, France, West Germany, and Italy.

Front 34

What was the European Atomic Energy Community, or EURATOM?

Back 34

A community created to govern atomic energy in Europe, entered into force in 1958.

Front 35

What were the Treaties of Rome?

Back 35

European treaty of 1958 that created the EEC and EURATOM.

Front 36

What is the common agricultural policy, or CAP?

Back 36

An EU program that provides economic benefits to agriculture in all countries in order to allow stable pricing and profits for the industry.

Front 37

What is the European Parliament?

Back 37

The parliamentary assembly for the EU.

Front 38

What is the Council of the European Union?

Back 38

The main decision-making institution of the EU, made up of ministers from the EU national governments.

Front 39

What is the European Council?

Back 39

A body of the EU; part of the Council of the EU and composed of the heads of state and government of the European Commission.

Front 40

What is the European Commission?

Back 40

Body responsible for implementing activities mandated by the European Parliament and Council.

Front 41

What is the Court of Justice?

Back 41

EU court; responsible for ensuring that EU legislation is evenly and fairly interpreted in all member states; can also settle legal disputes between EU entities and declare certain legal instruments as incompatible with EU law.

Front 42

What is the Court of Auditors?

Back 42

A body of the EU that provides financial oversight on budget, revenues, and expenditures.

Front 43

What is the European Central Bank, or the ECB?

Back 43

An independent central bank of the EU that implements economic and monetary policy.

Front 44

Define subsidiary.

Back 44

Principle of law in the Eu dictating division of powers; states that decisions should be made at the lowest governmental level whenever possible.

Front 45

What is the Single European Act?

Back 45

European removal of non-tariff barriers, allowing the free movement of goods, services, capital, and labour; ratified in 1987.

Front 46

What are non-tariff barriers, or NTBs?

Back 46

National content requirements on certain products or quotas on their import.