SOC101 Lecture Notes - Lecture 10: Linear Continuum, International Monetary Fund, Worldwide Exchange
11 Jan 2016
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Document Summary
These labels indicated a hierarchical and derogatory ranking of which countries are considered superior. Since first world nations are identified as those who developed the present capitalist system, it is they who spread this particular socio-economic & political system to the rest of the world. The newer, more politically correct, root word develop are in relation to the economic capitalist benchmark of how far along a linear continuum a country matches complete capitalist economic development. Three economic pillars of globalization: the international monetary fund (imf), the world bank, world trade organization. The defining feature [of a corporation] is its strategic decision-making is based entirely on economic goals, with little or no regard for national boundaries . Results: absolute poverty: the failure to meet basic needs, relative poverty: the failure to meet the needs to live a working class existence. Conclusion: the one institution driving all of these recent political, economic, and cultural changes is the corporation.
