Development and Social Change: A Global Perspective

by Philip McMichael

newly industrializing countries (NICs)

export-oriented industrialization (EOI)

export processing zones (EPZs)

chapter has examined the emergence of a global production system.

Specialization in the world economy, rather than replication of economic activities within a national framework,

new criterion of “dev...

labor casualization has occurred,

organized labor in the former has been forced to yield to the competitive low-cost and unorganized labor of the latter,

formation of a global labor force has involved political decisions that unravel the social compact with First World labor and cycle Third Worl...

new global economy was emerging,

Global financial reorganization mapped on to global production systems that emerged via Third World export strategies.

rendering states vulnerable to a debt crisis.

when credit dried up in the 1980s, the debt crisis reversed the original reliance on the development state, laying the foundations for the globalization project.