All Flashcards
Who was Jimmy Carter?
US President who implemented trade initiatives in the late 1970s and early 1980s.
Who was Ronald Reagan?
US President who implemented trade initiatives in the 1980s and 1990s, including NAFTA.
Who was George W. Bush?
US President who implemented trade initiatives in the early 21st century.
Who was Barack Obama?
US President who implemented trade initiatives in 2009, including the negotiation of the Trans-Pacific Partnership (TPP).
Who was Donald Trump?
US President who implemented trade initiatives in 2017, including withdrawal from the TPP, the renegotiation of trade agreements with countries like Mexico and Canada, and the implementation of tariffs on a number of imported goods.
What were the causes and effects of deindustrialization in the US?
Causes: Automation, globalization, overseas job migration. Effects: Rust Belt, increased demand for higher education, economic inequality.
What were the causes and effects of the rise of the internet?
Causes: Technological advancements, government funding. Effects: New business models, social media, changes in communication and media consumption.
What were the causes and effects of the increased use of cell phones?
Causes: Technological advancements, decreasing costs. Effects: Instant gratification, less privacy, changes in social interaction and driving habits.
What were the causes and effects of Reagan and Bush (43) tax cuts?
Causes: Supply-side economics, belief in stimulating economic growth through tax reduction. Effects: Increased economic inequality, debate over their impact on overall prosperity.
What were the causes and effects of the failure of the minimum wage to keep up with inflation?
Causes: Political opposition, lack of indexing to inflation. Effects: Reduced purchasing power for low-wage workers, increased economic inequality.
What were the causes and effects of predatory loans from banks that targeted minority communities?
Causes: Racism, deregulation of the financial industry. Effects: Increased racial wealth gap, disproportionate impact of economic downturns on minorities.
Define globalization.
Increasing interconnectedness of the world through trade, investment, and cultural exchange.
What is post-industrialization?
Shift from a manufacturing-based economy to a service and information-based economy.
Define the Rust Belt.
Region in the Midwest that experienced industrial decline and economic hardship.
What was the Dot Com Bubble?
Speculative bubble from 1995-2000 when internet-based companies were extremely overvalued.
Define economic inequality.
Unequal distribution of income and wealth among individuals or groups.
What is the racial wealth gap?
Disparity in wealth accumulation between different racial groups.
What is the World Trade Organization (WTO)?
International organization that oversees trade agreements between nations.
What is the Group of 8 (G8)?
International forum for the governments of 8 major industrialized nations.
Define NAFTA.
North American Free Trade Agreement between the US, Canada, and Mexico.
Define Trans-Pacific Partnership (TPP).
Proposed trade agreement between several countries in the Asia-Pacific region.