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by: Alicia Muir

GlobalMidterm.pdf GLOA 101

Alicia Muir
GPA 4.0

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Comprehensive Midterm Study Guide
Intro to Global Affairs
Gavin Mueller
Study Guide
50 ?




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This 3 page Study Guide was uploaded by Alicia Muir on Wednesday August 3, 2016. The Study Guide belongs to GLOA 101 at George Mason University taught by Gavin Mueller in Fall 2015. Since its upload, it has received 7 views. For similar materials see Intro to Global Affairs in Global Affairs at George Mason University.

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Date Created: 08/03/16
Neoliberalism­ ​a bipartisan movement that occurred in the 1970s starting in England and the  U.S. led by margaret Thatcher and Ronald Reagan that was a direct rejection of Keynesian  economics. This new system embraced the limitations placed on government when it comes to  its ability to intervene in the economy so some key characteristics include privatization, the  creation of new markets, a decrease in social spending, the use of monetary policy to financial  policies and a deregulation of finance.    Characteristics of Capitalism:  ● shift of populations from rural to urban  ● economic growth is a necessity  ● industrial society is a must    Globalization:​ a complex web of multiple ongoing social processes that intensifies and  expands cultural, political, technological and economic exchanges and connections through a  series of flows which ultimately connects local and national governments to global structures.   ● refers to the expansion and intensification of social relations and consciousness across  world time and world­space    Adjudication: ​settling a dispute formally in a courtroom or another formal structure    Kyoto Protocol: ​the conference the U.N held to help the environment based on influence from  a NGO    GATT­​ General Agreement of Trade and Tariffs­ reduced trade barriers across countries which  was a treaty but powers were taken over by the WTO    Monetarism:​ the value of money, interest rates and inflation rates need to be helped in order to  improve after financial crisis not the demand of good themselves. Solution is to deregulate to  make more money     ICJ­ ​International Court of Justice in the U.N­15 seats­ 9 year terms    Global Imaginary­ ​people’s growing consciousness of global connectivity     SAPs­​ Structural adjustment programs­ led by World Bank, WTO, and the IMF who are all  products of the Bretton Woods conference    Culture:​ refers to the shared beliefs, values, myths, norms, symbols and ideals of a shared  entity.    3 reactions to Westernization:  ● local cultures are largely replaced  ● global pressures can lead to a resurgence of attention and celebration of local culture  ● cultural hybridity with the exchange of two cultures    Small­L liberalism: ​classical liberalism by reducing state intervention in the economy  (laissez­faire) with free autonomous individuals who have natural civil liberties  ● citizenship­as­status in global terms where there are legal rights to protect    Small R republicanism:​civil liberties that should not be messed with and the idea of  self­governance(democratic) that individuals have a stake in their government.  ● Citizenship­as­activity in global terms where participation is key    Proponents of Free Trade argue that it increases global wealth which increase consumer  choice. But the profits from free trade do not spread themselves out equally among different  classes.     TNCs:​ transnational corporations sometimes even have a higher GDP than countries. Like  Walmart and Exon.    Why Neoliberalism? (need to understand better)  ● economic  ○ wages were rising but businesses wanted to stop that because it was cutting into  profits  ■ rate of profit slows down   ● fix this by outmaneuvering unions  ● political  ○ anti­war, anti­race, civil rights mvmt by people against govt.  ■ social mvmts are threat to ruling classes    Asian Financial Crisis:  ● Indonesia, Malaysia, S. Korea ect. were built up too much too quick so value of assets  drop. Then the World Bank funded with enough money just to get the financial investors  to get their money back and then market crashed.    Financialization:  ● increase in riskiness  ○ contracts­ too complicated and most did not read them  ● credit default swap­ money off of worker’s insurance  ● collateralized debt obligation is when subprime loans (give loans to people who can’t pay  them back)  ● real­estate crashes, unemployment increases  ○ used monetarism to solve the problem  ■ lowered interest rates all the way so now this option is off the table for the  next crisis   ● now speculative capital is going into the technology markets, renewable energy, and real  estate in core cities (NY, D.C, San Francisco)    Nationalism: ​A shared sense of culture and political belonging, including traditions, languages,  rituals, and the “outside”,  that is territorially bounded which gives people an active sense of  purpose through their belief in an imagined community.        


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