Chapter 14-15 Global Capitalism IDs: Nikita Khrushchev: leader of the Soviet Union during part of the Cold

d War, was chairman from 1958-64. Responsible for the de-Stalinification (removal of cult of personalities) of Russia and the backing of the early Russian space program, and fairly liberal reforms in the area of domestic policy. Goulash Communism: (see page 325) Communist governments shift in industrialization of resources; larger emphasis on consumer goods industries, housing construction, and other service and raised wages. o Response to the widespread knowledge of Western prosperity (development of the TV, radio, etc.) Great Leap Forward: (see page 331) Communist Chinese economic policy which sought to rapidly industrialize the nation through a transition from a majority agrarian society to a communist one through rapid industrialization and collectivization. Took Stalinization to the extreme when collectivizing farms to the point in which 90 percent of Chinese peasants were working on the shared communes sharing everything from child care to food. o Originally, prospects looked good from the harvest of 1958, but soon took a turn for the worst. Essentially, consumption went up while production went down and as a result stocks depleted as euphoria rose. o Between 15~30 million people starved to death (see Great Chinese Famine) Great Proletarian Cultural Revolution: (see page 333) sociopolitical movement in China that sought to reverse the reformist course of economic policy and pushed economic management back in a more revolutionary direction. o Essentially sought to enforce communism by removing capitalist, traditional and cultural elements from Chinese society (from this we see the development of the Personality Cult of Mao Zedong). End of Bretton Woods: (see page 341) Also known as the Nixon Shock in which President Nixon officially took the US dollar off of the gold standard. Helped end the existing Bretton Woods system of international financial exchange, and ushered in an era of freely floating currencies that remains to the present day. Guatemala: (see page 335) In 1955 the US government had engineered the overthrow of a democratically elected government that had adopted some mildly nationalistic measures. o Cut-and-dry case of American antagonism in countries with foreign economic interests. Belindia: (see page 354) A phrase coined by Brazilian economist, Edmar Bacha to describe the socioeconomic disparity between the rich and the poor in Brazil during the 1960s. One small part Belgium, the huge remainder India.

International Telephone & Telegraph: (see page 349) Clear example of the powerful and unwelcome impact that foreign corporations can have on local politics. In Chile the ITT prevented Socialist Salvador Allende from being elected president in 1970, and when this did not work, they proceeded to take part in a series of plots to overthrow him. Edward Gierek: (see page 357) Polish leader who attempted to raise living standards quickly (by borrowing from the Western banks). Successor to polish leader Wladyslaw Gomulka. Transistor: One of the many technological advances of the Western civilization of the 1960s. Algonside the laser, this transformed everything from consumer products to industrial processes and telecommunications. As a result computers became a mainstay of businesses and government alike. And other advances accumulated rapidly. o Technical definition: semiconductor device used to amplify and switch electronic signals and electrical power. Fundamental building block of modern electronic devices, used in radios, computers, calculators, and many other things.