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27 Cards in this Set
- Front
- Back
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What is the Bretton Woods system? |
An agreement that established commercial rules of each state to adopt and monetary policy tying its value to gold |
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What is carrying capacity? |
The maximum population size the environment can sustain indefinitely |
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What were the motives of the first wave of colonialism and when did it occur? |
Late 1400s. Mercantilism, resources, adventure, and bringing civilization. |
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Describe the second wave of colonialism |
1870s to World War II. Motivated by political competition for power and Prestige among European States. Economically, capitalists needed overseas outlets for Surplus capital. |
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Why did colonialism begin to decline |
Self-determination, mandates from the League of Nations, World War II sapped the strength of colonial powers. |
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What is demographic transition? |
The transition of high birth and death rates to low birth and death rates as a region develops |
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What is Dependency Theory? |
Resources tend to flow from poor states to wealthy States |
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What is dualism? |
State government divided into two parts |
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What is a fixed exchange rate? |
Fixed against another value or currency |
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What is a floating exchange rate? |
The currency is allowed to change |
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What is export led industrialization? |
Development strategy. Developing-nation aims to speed up industrialization by exporting Goods which it has an advantage with |
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What is import-substitution industrialization? |
Development strategy. Advocates replacing Foreign imports with domestic production |
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What is foreign direct investment? |
An investment in the form of a controlling ownership in a business and one country by an entity in another |
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How is the global North characterized? |
Democratic, technologically inventive, wealthy, aging populations, low population growth |
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How is the global South characterized? |
Typically not Democratic, low technology use, poor, rapid population growth, overstrain social and ecologically systems |
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What is the group of 77? |
Un Coalition of developing nations, designed to promote its members Collective economic interests |
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What is Rostow's first stage? |
Traditional Society. Family and Clan, pre Newtonian Tech, pre nation state |
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What is most favored nation status? |
Given by the World Trade Organization. The state must receive equals trade advantages as the most favorable Nation |
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What is the non-aligned movement? |
A group of states not formally aligned or against any major power Bloc |
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What is protectionism? |
A state protecting its domestic producers against foreign competition |
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What is self-determination? |
People have the right to freely choose their sovereignty and international political status with no interference |
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What is sustainable development? |
Economic Development conducted without depletion of Natural Resources |
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What is the tragedy of the commons? |
When States take advantage of a shared resource knowing that if they do not someone else will |
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What is Rostow's second stage? |
Preconditions for takeoff. Savings and investment, National level organ, New Elites |
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What is Rostow's third stage? |
Take off. Stimulus to take off such as a revolution, savings and investment, manufacturing, institutions |
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What is Rostow's 4th stage? |
Drive to maturity. Range of tech used, new sectors, savings and investment are 10 to 20% of national income |
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What is Rostow's fifth stage of development? |
Age of mass High consumption. Widespread consumption of consumer goods and services, welfare spending increased |
