POLITICAL ECONOMY GLOSSARY
(IN RELATIONAL NOT ALPHABETIC ORDER)
POLITICAL ECONOMY IS DERIVED FROM THE COMBINING
OF TERMS THAT MAKE REFERENCE TO AN ANALYTIC EMPHASIS ON THE POLITICAL/SOCIAL
CONSTRUCTION AND CONSEQUENCES OF ECONOMIC ACTIVITY. IT HAS COME TO REFER TO BOTH (1) A
HISTORICAL PROCESS (IT IS A GLOBAL/ INSTITUTIONAL REALITY); AND (2) AN INTEPRETIVE
FRAMEWORK (A BODY OF SCHOLARSHIP).
GOVERNMENT
IS THE FORMAL ORGANIZATION THAT HAS THE LEGAL AND POLITICAL AUTHORITY TO
REGULATE THE RELATIONSHIPS AMONG MEMBERS OF A SOCIETY AND BETWEEN THE SOCIETY
AND THOSE OUTSIDE ITS BORDERS.
STATE
A POLITICALLY ORGANIZED BODY OF PEOPLE UNDER A SINGLE GOVERNMENT OR WHAT
SOCIAL SCIENTISTS CALL GOVERNMENT AS THE POLITICAL ENTITY THAT POSSESSES A
LEGITIMATE MONOPOLY OVER THE USE OF FORCE WITHIN ITS TERRITORY TO ACHIEVE ITS
GOALS.
FINANCE A BRANCH OF ECONOMICS CONCERNED WITH RESOURCE ALLOCATION AS WELL AS RESOURCE MANAGEMENT, ACQUISITION AND INVESTMENT. SIMPLY, FINANCE DEALS WITH MATTERS RELATED TO MONEY AND THE MARKETS.
POLITICS IS THE SOCIAL
INSTITUTION THROUGH WHICH POWER IS ACQUIRED AND EXERCISED BY SOME PEOPLE AND
GROUPS ==> HAROLD LASWELL, "POLITICS IS THE PROCESS BY WHICH IT IS
DETERMINED WHO GETS WHAT, WHEN AND HOW."
SOCIAL REPRODUCTION
THE PROCESS WHEREBY PEOPLES BASIC NEEDS ARE MET. OR ,THE
COSTS OF CARING FOR OURSELVES, OUR CHILDREN, AND OTHER DEPENDENTS.
SOCIAL INEQUALITY STRUCTURED AND RECURRENT PATTERNS OF INEQUITABLE GROUP RELATIONS.
EQUITY THE BELIEF THAT EACH INDIVIDUAL IS ENTITLED TO AN EQUITABLE SHARE OF SCARCE RESOURCES.
STRATIFICATION THE HIERARCHICAL ARRANGEMENT OF SOCIAL STRATA IN A SOCIETY.
IDEOLOGY A COMPLEX SET OF IDEAS THAT ATTEMPT TO EXPLAIN,
JUSTIFY, LEGITIMATE, AND PERPETUATE A SPECIFIC SET OF
COUNTER-IDEOLOGIES SETS OF LESS INFLUENTIAL IDEAS THAT OFTEN REFLECT THE INTERESTS OF THE DISADVANTAGED, FREQUENTLY CALLING FOR CHANGE IN EXISTING CONDITIONS OF INEQUALITY.
OPPRESSION THE NEGATIVE CONDITION OF THOSE WHO EXPERIENCE THE EXERCISE OF POWER IN A CRUEL AND UNJUST FASHION.
POWER THE ABILITY TO MAKE OTHERS DO WHAT YOU WISH THEM TO DO WHETHER THEY LIKE IT OR NOT.
AUTHORITY IS POWER THAT IS ACCEPTED AS PROPER AND LEGITIMATE BY THOSE IT IS EXERCISED ON.
CULTURE THE COMPLETE WAY OF LIFE SHARED BY A PEOPLE INCLUDING BOTH MATERIAL AND NON-MATERIAL ELEMENTS.
ETHNICITY A COLLECTIVITY OF PEOPLE WITH SHARED CULTURAL TRAITS, INCLUDING LANGUAGE, RELIGION, OR ANCESTORY.
RACE A CATEGORY OF
PEOPLE WHO SHARE COMMON PHYSICAL TRAITS DEEMED TO BE SOCIALLY SIGNIFICANT.
RACIAL CATEGORIES ARE COMMONLY LINKED TO DIFFERENCES IN SKIN COLOUR.
VISIBLE MINORITY REFERS TO PERSONS
WHO ARE IDENTIFIED ACCORDING TO THE EMPLOYMENT EQUITY ACT AS BEING
NON-CAUCASIAN IN RACE OR NON-WHITE IN COLOUR. UNDER THE ACT, ABORIGINAL PERSONS
ARE NOT CONSIDERED TO BE MEMBERS OF VISIBLE MINORITY GROUPS.
MINORITY REFERS TO ANY GROUP (WHETHER BASED ON RACE, ETHNICITY, OR GENDER) THAT ARE DISADVANTAGED BECAUSE OF A LACK OF ACCESS TO WEALTH, POWER, AND PRIVILEGE.
ETHNOCENTRISM IS THE BELIEF THAT ONES OWN CULTURE IS BETTER THAN OTHERS AND/OR THE TENDENCY TO BELIEVE THAT WHAT IS TRUE OF YOUR CULTURE IS TRUE OF OTHERS.
DISCRIMINATION THE DENIAL OF EQUAL TREATMENT OR OPPORTUNITIES TO INDIVIDUALS ON THE BASIS OF THEIR MEMBERSHIP IN A PARTICULAR GROUP.
RACIALIZATION THE SOCIAL PROCESS BY WHICH CERTAIN GROUPS OF PEOPLE ARE SINGLED OUT FOR UNIQUE TREATMENT ON THE BASIS OF REAL OR IMAGINED PHYSICAL CHARACTERISTICS OR, REFERS TO THE ASSIGNING OF RACIAL CONNOTATIONS TO THE ACTIVITIES OF MINORITY PEOPLE.
STIGMATIZATION REFERS TO A MARK OF DISGRACE
IMPOSED ON AN INDIVIDUAL BY OTHER INDIVIDUALS OR A SOCIAL GROUP. IN POPULAR
USAGE IT OFTEN REFERS TO ANY NEGATIVE SANCTION OR DISAPPROVAL FOR
NONCONFORMITY. AN UNDESIRABLE DIFFERENTNESS OF AN
INDIVIDUAL THAT DISQUALIFIES HIM OR HER FROM FULL SOCIAL ACCEPTANCE.
SOCIOLOGISTS ORIGINALLY USED THE TERM TO SHOW HOW HUMANS NOT ONLY SEEK TO
CONTROL THE PHYSICAL WORLD BUT THE SOCIAL WORLD.
MARGINALIZATION REFERS TO THE STATUS OF A GROUP WHO DOES NOT HAVE FULL AND EQUAL
ACCESS TO THE SOCIAL ECONOMIC, CULTURAL, AND POLITICAL INSTITUTIONS OF SOCIETY.
CONTINGENCY WORK REFERS TO ALL
FORMS OF EMPLOYMENT INVOLVING ATYPICAL EMPLOYMENT CONTRACTS, LIMITED SOCIAL
BENEFITS AND STATUTORY ENTITLEMENTS, JOB INSECURITY, LOW JOB TNURE, LOW WAGES,
AND HIGH RISKS OF ILL HEALTH.
HEGEMONY A THE SUPREMACY OF A SOCIAL GROUP WHICH
MANIFESTS ITSELF IN
ANTI-RACISM THE PROCESS THAT ISOLATES AND CHALLENGES RACISM THROUGH DIRECT ACTION AT PERSONAL AND INSTITUTIONAL LEVELS.
DISCOURSE A CONCEPTUAL FRAMEWORK WITH ITS OWN INTERNAL LOGIC AND UNDERLYING ASSUMPTIONS THAT PRODUCE A DISTINCT WAY OF SPEAKING ABOUT (SOME ASPECTS OF) REALITY.
POSTMODERNISM A WORLD-VIEW THAT IS CHARACTERIZED BY THE BELIEF THAT THERE IS NOTHING BEYOND THE IMMEDIATE MATERIAL FORM OF EXISTENCE, OR CULTURAL RELATIVITY.
MULTICULTURALISM IS THE TECHNIQUE FOR ENGAGING DIVERSITY AS DIFFERENT BUT EQUAL. AS A DOCTRINE IT INVOLVES THE PROMOTION OF UNITY THROUGH DIFFERENCE, BY OFFICIALLY ACKNOWLEDGING AND FOSTERING A SOCIETY IN WHICH DIVERSITY IS DEFINED AS A LEGITIMATE AND INTEGRAL TO THE WHOLE.
GLOBALIZATION IS A COMPLEX SET
OF HUMAN FORCES INVOLVING THE PRODUCTION, DISTRIBUTION/TRANSMISSION, AND
CONSUMPTION OF TECHNICAL, ECONOMIC, POLITICAL, AND SOCIOCULTURAL GOODS AND
SERVICES WHICH ARE ADMINISTRATIVELY AND TECHNOLOGICALLY INTEGRATED ON A
WORLDWIDE BASIS.
GLOBALISM REFERS TO A
NEOLIBERAL MARKET IDEOLOGY THAT ENDOWS GLOBALIZATION WITH THE FOLLOWING VALUES
AND NORMS =====> PRIMACY OF ECONOMIC GROWTH, IMPORTANCE OF FREE TRADE FOR
PROSPERITY, UNRESTRICTED FREE MARKET, INDIVIDUAL CHOICE, REDUCED GOVERNMENT
INTERVENTION, AND A MODERNIZATION MODEL OF ECONOMIC DEVELOPMENT.