INGS 200 Short Exam #1 Keywords List

The following is a compilation of possible keywords on your Short Exam #1 (F Oct 8). Any of
these keywords might appear on the exam. You should be able to define each keyword(s), identify
its related author, and connect it to broader themes of the course. Keywords that are not on this
list will not appear in the Short Exam #1 keyword identification/matching section.

-Globalization (Steger):

The multidimensional and uneven intensification of social relations across world-time and world
space.

Globalization is the main theme of this course, as every aspect of our study (the economy, health)
etc. involves the global responses.

-Glocalization (Steger):

The interplay between global and local.

This applies to Prashad’s writing in the his writing “The Poorer Nations” because his writing
emphasizes the importance of integrating at a local level, rather than white countries coming in
to “Third World” countries and trying to “fix” their issues from the outside.

-Periodizing (globalization) (Pieterse):

Globalization is based often on Western ideals and people often believe that globalization often
started in the 1500s, when the Western countries started colonizing.

This also relates back to the ideas of eurocentrism/white privilege, talked about in Dubois.

-Third World Project (Prashad)

An aspirational political project that took place after the decolonization of Asia/Africa post
WWII. The Third World project’s mean goals were “peace, bread, and justice.” The goal of
peace was rooted in the fact that it was post WWII/Cold War and many of the countries had not
been at peace in a long time. Bread was the idea of providing physical aid to many of the
countries, and justice was the idea that the leadership of the organization was supposed to be
democratic. These goals were not realized.

This connects to the DuBois piece as he brings up the idea of white exceptionalism, which is a
key proponent of the third world project as many western countries saw the third world as project
rather than a place where people live.
-Bohannan’s experience among the Tiv of West Africa (Bohannan)

Bohannan highlighted the ways seemingly “universal” ideas (like the story and meaning of
Hamlet) did not translate across cultural borders so easily, which shows the difference in cultures
and also that “Western” ideas are not always superior as the chief explained the story’s meaning
in new way.

This goes back the ideas of privilege discussed in the Dubois and Prashad pieces.

-American exceptionalism (Hansen)

The idea that That America is different from other nations and we are distinctly different. We try
to spread our ideas to other countries and thank that we know best.

This relates to the way we interact with other countries (Third World Project in Poorer Nations)
and also how white/american travelers are viewed as expats rather than travellers.

-Expatriate / Expat versus migrant (Nash)

An exapt is described as educated, rich professionals working abroad, and most oftentimes
describes whiet people. This term carrys a lot of assumptions about class, education and
privilege. The word migrant is usually used to describe those in less privileged positions — for
example, a maid in the Gulf states or a construction worker in Asia — are deemed foreign
workers or migrant workers. The classification matters, because such language can in some cases
be used as a political tool or to dehumanise — as the debate around the word “migrant” suggests.

Again, this term is loaded with the themes of privilege in the global sphere that we saw in the
Prashad piece as as well as the Dubois piece.

-White migrations (Lundstrom)

The oxymoron that white people are not usually seen as migrants but rather as a tourist, an
expatriate, or professional traveling on business. In reality, this is just due to the privilege that we
have as people across the word.
I think it could be connected to the ideas of privilege in the poorer nations as well as the nash
piece.

-Subprime loans (Steger):

Subprime loans are risky loans that were given out by mortgage brokers for little or no down
payement and without credit checks. This led to the great recession. This loans promised big
rewards but also had a lot of risk, which caused the great US economy to falter which showed
that the West was not always strong, supporting critics of neoliberalism like Chang in the Lexus
and the Olive tree.

-Bretton Woods (Steger):

An international monetary arrangement, agreed upon by the allied nations in 1944 in Bretton
Woods, US. It created the IMF (international monterey fund), GATT/IMF ("General Agreement
on Tariffs and Trade" which was active from 1947 to 1994. It was taken over by the "World
Trade Organization" in 1995.) and the WB (World Bank) to set up a system of fixed exchange
rates with the US dollar as the international reserve currency.

This decision was the basis of countries pegging their currencies to the U.S. dollar. In turn,
the dollar was pegged to the price of gold, and the U.S. became dominant in the world economy,
again leading to more imperialism.

-The Golden Straitjacket (Chang)

A series of neoliberal policies that include promoting free trade, maintaining low-inflation, and
deregulating the economy promoted by rich countries.

The golden straightjacket seems good in theory but also perpetuates the ideas seen in "The
Poorer Nations" that the rich western nations have the solution to poorer countries' economic
problems. However, it is interesting that while rich countries try to impose the golden
straightjacket onto other countries, they often have protectionist policies themselves.

-Neoliberalism’s origins (Harvey)

- In 1978, Deng Xiaoping took the first momentous steps towards the liberalization of a
communist-ruled economy in China.

- Paul Volcker took command at the US Federal Reserve in July 1979, and within a few months
dramatically changed monetary policy.

- Across the Atlantic, Margaret Thatcher had already been elected Prime Minister of Britain in
May 1979, with a mandate to curb trade union power and put an end to the miserable inflationary
stagnation that had enveloped the country for the preceding decade.

- In 1980, Ronald Reagan was elected President of the United States and, armed with geniality
and personal charisma, set the US on course to revitalize its economy by supporting Volcker’s
moves at the Fed and adding his own particular blend of policies to curb the power of labour,
deregulate industry, agriculture, and resource extraction, and liberate the powers of finance both
internally and on the world stage.
-Neoliberalism’s main characteristics (Harvey)

Neoliberalism is the idea that the economy can be the most sucessful when things are privatized
and there is free trade. State interventions should be kept to a bare minimum as the market
should be free. If the market is free then the social good will be maximized. Everything is based
in the market.

-Limited liability (Stiglitz)

A legal agreement in a company in which the investors are only at risk for the amount of money
they put into the company, meaning that if the company does something wrong, not everyone is
held equally account.
The idea of limited liability relates to the larger idea of global corruptions especially in MNCs.
Chang also highlights this idea in his writing and he states that large companies need to be held
accountable for their actions, rather than just hiding under the laws of different countries. I think
that the term limited liability points back to the idea that global solutions need to be found for
issues such as corruption, environmental impact, and the issues that plague MNCs

-Foreign direct investment (Stiglitz)

A foreign direct investment (FDI) is a purchase of an interest in a company by a company or an

investor located outside its borders. This is how MNCs get involved in different countries.

-Multinational corporations (MNCs) (Stiglitz)

MNCS are corporate entities that operate/have jurisdiction in at least two countries. MNCs often
cause environmental issues and are very corrupt as they are not held accountable for their
actions. In Chang’s piece he highly critiques the practices of MNCs but also calls for solutions,
which is what the Stiglitz reading encouraged me to do.

-Adam Smith / Smithian economics (Stiglitz)

Smith argued that individuals in pursuing their own self-interests , would advance the broader
levels of society and that the incentive to outcompete rivals would lead to lower costs and the
society would benefit. In Smithian economics morality played no role, the only thing people had
to worry about was their own self-interest which would benefit the market. Based on this logic
some argue that the only responsibility of companies is to their shareholders and that they should
do whatever it takes to maximize profits.
-Value chains (Gereffi)

Emphasis on the relative value of those economic activities that are required to bring a good or
service from conception, through the different phases of production (involving a combination of
physical transformation and the input of various producer services), delivery to final consumers
and final disposal after us. This again shows the interconnectedness of the economy and how
different companies are related.

-The Chicago Boys (Matamala)

The Chicago boys were a group of economists trained at the University of Chicago under Milton
Friedman and Arnold Harberger that conducted the furthest reaching economic revolution in the
history of Chile. This is important because it showed how neoliberalism affected the world
because in Chile, while some aspects of neoliberalism were successful it also led to the latin
american debt crisis of 1980 as well as extreme inequality (28% of the countries total income is
concentrated in the top 1%). This supports critics like Chang.

-The Doha Declaration (Kaufmann)

The Doha Declaration on the TRIPS Agreement and Public Health was adopted by the WTO
Ministerial Conference of 2001 in Doha on November 14, 2001. It reaffirmed flexibility of
TRIPS member states in circumventing patent rights for better access to essential medicines.
This allowed for better access to medications which is essential now that we're are in a global
pandemic.

The following is a list of possible short essay prompts on your Short Exam #1. One of them will
appear on the exam.

-Describe different views on globalization and how to study it, including specific reference to
authors and examples from the readings

Steger discussed how globalization could be described as “the multidimensional and uneven
intensification of social relations and consciousness across world-time and world space” and he took a
very academic approach

Pieterse helped us get a historical understanding of globalization while also reminding us not to be
ethnocentric in our understanding of “history.” For example, how we define historic moments that
ostensibly matter depends on our own personal/national background. He was much more critical.
Dubois provided a historic critique of American exceptionalism, its racial/ist underpinnings (per his
argument), and expansionist ambition.

Prashad described another aspirational project after WWII (and the subsequent decolonization of Asian,
African, and Latin American countries) that was a direct response to “Western imperialism”: “the Third
World.” Ultimately, however, Prashad concluded that modern-day iterations of the Third World (Project)
like BRICS (Brazil, India, China, South Africa: “Neoliberalism with Southern Characteristics”) presented a
potential “gap between neoliberal policy and imperial power” (p. 12). In other words, while not entirely
failing, the aspirations of the Third World, according to Prashad, fell short. Prashad seemed skeptical of
the future of globalization, specifically its capacity to alleviate global inequality. This was due to the
ubiquity of “the neoliberal states,” which signal that “governments of the possible” are now over (p. 13).

Nash hinted at how these inequalities can get mapped onto policy and people, specifically. The example
of “expats” versus “migrants” versus “travelers” was a case in point. Although the terms often are
virtually interchangeable, as Nash noted, there remain strong connotations for each category. Primarily,
these connotations (i.e., stereotypes) tend to be racialized and classed. For instance, the figure of the
“expat” largely is considered (including by migration governance institutions like the UN) a (white,
although increasingly, Asian) Western, middle-class, mobile “professional.” Lundstrom continued this line
with her forwarding the theory of “white migrations” via her research subjects, mobile white Swedish
women (“transmigrants” p. 11) in the US, Singapore, and Spain.

-Describe the development of neoliberalism (including its critics and supporters) with specific
reference to authors and examples from the readings

Development of neoliberalism:

● Stems from Smithian economics. The belief that a market without

government intervention is the most functional kind.
● Harvey describes neoliberalism's beginnings as an esoteric/fringe/marginal
economic theory. Every institution that deals with the economy has a
neoliberal view because that is the best economic policy for “cheapness”
(Porter, 2021). This argument could be true when human nature is
considered as a force that dictates each person’s decisions.

● Chang argues that while this is the standard it is not what it is right. He
argues that neoliberalism causes MNCs to be held accountable for their
actions such as environmental issues. Also Chang gives the example of
the Latin American countries (as described more detail in the Matamala
reading).
● Finally, Change argues the real history vs the official history. In the official
history, Britain adopted free trade and free market policies in the 18th century
(ahead of everyone else) and by the mid 19th century, they influenced other
countries to the same but in reality Britain was one of the most protectionist
countries until they switched to free trade for a brief period. They went back to
protectionism to protect farmers and promote emerging industries.
● Authors such as Stilltz discuss both aspects saying that while neoliberalism
is financially beneficial it may not always be morally beneficial. He states
that globalization itself is not bad but needs to be reshaped to be more
morally beneficial.
●