GLBL ST 1 Study Guide - Midterm Guide: Washington Consensus, Global Studies, Free Trade
Document Summary
It refers to the process, what is actually happening, a homogenizing process (economic, political and social integration); it increases interconnection and interdependence: g"lobalization. It is used as a political term, used to make politically charged arguments: washington consensus. Liberalize trade, privatize public services, deregulate businesses and finance, cut public spending, reduce/flatten taxes, encourage foreign investments, de-unionize, export led development, reduce inflation and enforce property rights: neoliberalism. It is characterized by free-market trade, individualization, deregulation of financial markets and shift away from state welfare provision, associated with laissez-faire economics: anti-globalization. Opposition to increase in global power and influence of businesses, especially mncs: alter-globalization. Supports global interaction and cooperation, but calls for changes in policies for the negative effects of globalization that include environmental protection, labor protection and protection of indigenous culture. Idea that the world is shrinking, there is a level playing field for individuals: the world is flat .
