AP Human Geography: Chapter 14: Globalization and Geography of Networks, De Blij

GlobalizationThe expansion of economic, poliical, and cultrural preocesses to the point that they become global in scale and impact. The processes of globlalization transcend state boundaries and have outcomes that vary across places and scales.
Washington ConsensusThe fundamental principles of free trade and how to acheive it.
1.Free trade raises the well being of all countries by inducing them to devote their resources to production of those goods they produce relatively most efficiently; and 2. that competition through trade raises a country’s long-term growth rate by expanding access to global technologies and promoting innovation.
NetworksDefined by Castells as a set of inteconnected nodes without a center.
Participatory DevelopmentThe notion that locals should be engaged in deciding what development means for them and how it should be achieved.
Local Exchange Trading SystemA barter system whereby a local currency is created through which members trade services or goods in a local network seperated from the formal economy.
Vertical IntegrationOwnership by the same firm of a number of companies that exsist along a variety of points along the production and consumption chain.
SynergyThe cross-promotion of vetically-integrated goods.
GatekeepersPeople or corporations who control the access to information.
Horizontal IntegrationOwnership by the same firm of a number of companies that exist on the same point along the production and consumption chain.