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Global Society, Review Sheet for Midterm II

Review Sheet for Global Society Midterm II

Economic Liberalism

Laissez-faire capitalism

“invisible hand”

Adam Smith

Economic freedom

Economic equality

Communism

Socialism

Liberal capitalism

British Empire

Crises of liberal capitalism

The welfare state

Social security

Pensions

“Keynesianism”

Crises of the welfare state

Stagflation

Oil embargo

Neo-classical economics

Think tanks

Neoliberalism

Anti-globalization social movements

The “Washington Consensus”

Left-wing critics of globalization

Right-wing critics of globalization

Southeast Asia

Peter Martin

Martin Wolfe

Xenophobia

Racism

Hatred of markets

“race to the bottom”

Inequality within nations

Inequality between nations

GINI index

Neo-colonialism

The “global North”

The “global South”

Kenichi Ohmae

Nation-states

Region-states

“Global logic”

“extortionate demands”

Foreign investment

Foreign ownership

Foreign products

“civil minimum”

Robert Hunter Wade

Elite consumption in developing nations

Clustering of high-wage industries, R&D

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