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Cards In This Set
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Two Basic Economic problems
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1) How to produce wealth
2) How to distribute wealth
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Why is there continual turmoil in the political environment after the fall of the Soviet Union
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Because there is no bipolar system of power. The communist system controlled many countries which are now in regional warfare.
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Communist way of tackling the two basic economic problems:
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1) Joint production (here is were communism fails, because no one wants to work at maximum efficiency because there is no incentive to do so)
2)Equal distribution of wealth
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Consequences of the fall of the Soviet Union
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Instead of one big enemy, we were left with many small enemies. We lost the balance of power, stability and control.
Because of the fall, there was (is) a higher risk of regional wars, and made it near impossible to have a solid foreign policy. |
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Neo conservatives
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A political group that created the concept of pre-emptive defense.
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Are we living in a transitory period today?
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Yes, because there is no political system for world peace without another super power.
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What is Socio-cultural-economic environment? (aka Globilization)
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Think of his example of Princess Dianas death, and the many products and nations involved.
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Where does the world become interdependent?
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1)National Level
2)Personal level
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Globalization
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Growing social/cultural/economic interdependence of countries abetted by the recent technology.
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Sociological aspect of globalization provides:
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A sense of global unity (aka deterritorialization)
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Cultural aspect of globalization provides:
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"the west on the rest" and cultrual convergencec. Meaning that the cultures of the west are impacting the rest of the world, and cultures which at one time were very unique, are not converging into new cultures.
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Political aspect of globalization provides:
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Process of losing the sovereighty of the nation state. Note here that this is also an important drawback to F.D.I.
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Economic aspect of globalization provides:
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Acceleration of cross border transactions, more international trading. Since globalization the world GDP has increased from 2 trillion (1965) to 30 trillion (2000). Trade has increased from 2 trillion to 6 trillion.
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List the importance of each of the three factors of Globalization
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1) Technological development has yielded the "death of distance", as well as time and space compression by new technology, and example of such being satellites and the jumbojet.
2) Institutional arrangment: having international committees has forwarded globalization, such as the WTO, IMF, and the OECD
3) Deregulation/Liberization by governments themselves has also spurred on globalization.
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What is the Janus face of globalization and list its factors.
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The Janus face is the postive and the negative aspects of each factor for globalization.
1)Economic Prosperity --> income disparity (rich get richer, poor get poorer)
2)More interdependence ---> more insecurity at the national level
3)Cultural convergence --> cultural decay
4) "Pollution Halo" ---> "Pollution haven" (poorer countries with less stringet environmental controls will yield companies who pollute like hell)
5)Cost saving to MNCs develop local economies ---> Job flight (loss) and the exploitation of cheap labor
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