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World Bank

Founded in 1944 in Bretton Woods conference between dominant “free world” powers, also known as the International Bank for Reconstruction and Development (IBRD). Established to coordinate with several regional banks in the long-term development of nations. Provides long-term development loans.

Underemployment

Labour that is not fully utilized; encompasses individuals working below the level for which they have been trained, or individuals working fewer hours a day than they would prefer. Also includes the working poor whose long hours of labour generate … Continue reading →

Transnational Corporations (TNCs)

Are corporations that operate in more than one country. Usually, headquarters are in one or more nations and production or services are in other nations. TNCs have come to dominate the global economy and some large TNCs are richer and … Continue reading →

Tariff

Government tax on imports or exports usually either to raise revenue or to protect domestic firms from foreign import competition. A tariff may also be designed to correct an imbalance of payments. The money collected under tariffs is called a … Continue reading →

Popular Literacy

Is a method of education that begins by processing people’s lived experiences, collectively and critically evaluates that experience, draws connections to root causes of problems, and develops solutions. Distinct from education that views participants as “blank pages” and teachers as … Continue reading →

People of Color (or “Colour” in Canada)

Is a term used to refer to nonwhite people, used instead of the term “minority,” which implies inferiority and disenfrancisement. The term emphasizes common experiences of racial discrimination or racism.

International Monetary Fund

Founded in 1944 at the Bretton Woods Conference by the western industrial powers, the IMF administers and coordinates exchange rate policies and provides member states with financing to enable them to balance their trade payment. Today, the IMF acts as … Continue reading →

Globalization

Is a term used to refer to the expansion of economies beyond national borders, in particular, the expansion of production by a firm to many countries around the world, i.e., globalization of production, or the “global assembly line.” This has … Continue reading →

Free Trade

Is the reduction of regulations and other constraints on businesses to increase international trade. Also known as “trade liberalization.” To liberalize trade is to reduce tariffs and other barriers, so nations can import and export without restraints.

Export Processing Zones

Are special areas created by some “Third World” governments to attract foreign investment in industry. In general, components area imported for assembly and export. Such zones generally offer tax breaks and weak environmental codes and labor rights, as investment incentives. … Continue reading →

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