Social 10-1 Related Issue 3 Latest Update Graded A+

Social 10-1 Related Issue 3 Latest Update Graded A+ economic globalization the increasing interconnectedness of people and places as a result of advances in transport, communication and info tech that cause political, economic and cultural convergence cultural convergence cultures coming together which then influences each other with their ideologies, traditions and beliefs william tabb (globalization is healthy but does not benefit all people economically) he's neutral about globalization joseph stiglitz thinks globalization is good because it helps the economy and there's more interdependence naomi kleine thinks globalization builds barriers between people World War I bfr against gah. economic cost of the war was high, european cities, towns, factories, railways, farms etc were destroyed. production of goods decreased and unemployment followed treaty of versailles purpose was to make peace and prevent another war. keynes said that if germany and austria were drowning in debt, people would suffer and it would cause another war. in the end germany lost its colonies and took all the blame wwi's effect on canada war debt was high, it totalled to $164 million and another $76 million a year for soldier pensions. there was high unemployment russian revolution in 1914, when czar nicholas ii ruled russia, the russians had little control over their labour and property. in 1922, after czar and his family got murdered, the ussr/soviet union was the first communist state under lenin. ussr Union of Soviet Socialist Republics communism (opposite of capitalism) economic and political model that was meant to get rid of class distinctions. stalin when stalin ruled the people of the soviet union, there were many restrictions and oppressions. people believe stalin was worse than czar depression in canada , canadian exports fell 50%. by 1929, 27% of canadians were unemployed wwii germany suffered bc of the depression and adolf hitler promised to fix things. hitler made germans think they were superior and were entitled to rule other people brenton woods (after wwii) in july 1944, representatives of 44 countries met in brenton, new hampshire for a conference formed by the newly founded un to prevent economic turmoil that would lead to another war keynes pro govt control, for canada govt, interventionist. believes govt should intervene to create economic stability (example govt should set up programs to help the unemployed) hayek anti govt control, for usa govt, competitionist. believes govt should protect free market by ensuring there are no restrictions and laws to interfere with competition between businesses. world bank head of bank is appointed in the us. owned by govt which provides funds. goals are the lend money, speed up industrialization, economic progress, reduce poverty, increase growth in developing countries and fund infrastructure projects international monetary fund head of imf is nominated by eu union. funded by member countries. goals are to establish international economic stability and promote foreign trade, provide emergency short-term loans to countries and get rid of corruptiom GATT general agreement on tariffs and trade. gradually eliminates tariffs and other trade barriers to encourage more trade hayek and friedman similar ideology. both wanted less govt intervention to generate economic prosperity. (order from communism to capitalism: keynes;middle, friedman and hayek) 4 factors that contribute to expanding