1. Foundations
1.1. WWI (1914-1918) Economies devastated! Germany pays reparations!
1.1.1. 1920's Economic Boom! Spend spend spend!!!
1.1.1.1. 1930's Great Depression! Stocks prices ↓ = Stock market CRASH!
1.1.1.1.1. Countries protect industries thru PROTECTIONISM Trade Barriers!
2. Knowledge Economy
2.1. ↑ knowledge/ info
2.1.1. New technology
2.1.2. Media
2.1.3. ↑ access/ circulation of new ideas/ outside influence
2.1.3.1. language
2.1.3.2. culture
2.1.3.3. religion
2.2. "Digital Age"
2.2.1. Computers/ cellphones/ internet
2.2.1.1. Ease of communication
2.2.1.2. Chatrooms/ forums
3. UNIFICATION OF WORLD ECONOMIES
3.1. INTERDEPENDENCE
3.1.1. +
3.1.1.1. Cooperation between countries, more info/ knowledge, etc etc
3.1.2. -
3.1.2.1. What happens in another country can become a global issue!
3.2. INTEGRATION
4. (Economic) Globalization
4.1. ↑ wealth, commerce
4.2. T.N.C.
4.2.1. Outsourcing
4.2.1.1. +
4.2.1.1.1. -3rd world get jobs -We get stuff for cheap
4.2.1.2. -
4.2.1.2.1. -3rd world: exploited/ bad work conditions/ low wages -Developed nations lose jobs!
4.2.2. Corporate Social responsibility?
4.2.2.1. To exploit or not to exploit...
4.2.3. Make $$$$$
4.3. The world is getting smaller!
4.4. SPREAD of ideas, culture, knowledge
4.5. REDUCING barriers!
4.6. Who is affected?
4.6.1. Social: EVERYONE
4.6.2. Political
4.6.2.1. Countries get involved!
4.6.2.1.1. TRADE AGREEMENTS/ ORGS.
4.6.2.2. Trade Liberalization!!!
4.6.2.2.1. Reduce Barriers!
4.6.2.3. Subsidizing
4.6.2.3.1. (+)Gov't provides financial support to industry & producers can sell for cheaper
4.6.2.3.2. (-) What if 3rd world countries are competing in the same industry?! How can they compete with developed world's subsidized industry?!
4.6.2.4. PRIVATIZATION
4.6.2.4.1. Of WATER ?!
4.6.2.5. Foreign Investments!
4.6.2.5.1. (+) Stimulates economy, more jobs, up prosperity
4.6.2.5.2. (-) Risky!
4.6.3. Environment
4.6.3.1. Reliance on Fossil Fuels
4.6.3.1.1. GHG
4.6.3.1.2. Tar/ Oil Sands
4.6.3.2. Our ecological footprint/ impact on the environment
4.6.3.2.1. Sustainable Prosperity
4.6.3.2.2. Over Consumption/ What about future generations?!
4.6.3.2.3. Sustainable Development
4.6.3.2.4. Initiatives/ Stewardship
4.7. ↑ prosperity
4.7.1. How is it measured??
4.7.1.1. GDP
4.7.1.1.1. (Gross Domestic Product) measures strength of country's economy
4.7.1.2. GNH
4.7.1.2.1. (Gross National Happiness) Inner happiness/ wellbeing
4.7.1.3. GPI
4.7.1.3.1. (Genuine Progress Index) Sustainability, well being, quality of life
4.7.1.4. HDI
4.7.1.4.1. (Human Development Index) Quality of life: longevity, knowledge, standard of living