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Approaches and Practices in PestManagement 5. Employ biological control 6. Reduce development of pesticide CURRENT CONCEPT IN IPM resistance As our world population continues to...

Approaches and Practices in PestManagement 5. Employ biological control 6. Reduce development of pesticide CURRENT CONCEPT IN IPM resistance As our world population continues to explode, we 7. Reduce pest resurgence and secondary are facing problems such food shortage and pest outbreaks reducing poverty through limited agricultural 8. Produce safe (uncontaminated) food cultivated areas 9. Protect safety of workers Pests Insects Plant Pathogens Nematodes PRE IPM ERA Weeds Rodents Other Arthropods 2500 BC - First records of insecticides;Sumerians used sulfur compounds to control insects and This problem has been addressed with the use of mites chemicals that led to the Green Revolution in 1960. 200 BC - Romans advocated oil sprays for pest GREEN REVOLUTION control. The Green Revolution was initiated in the 1960’s to address the issue of malnutrition in the developing 300 AD -First records of biological controls; world. The technology of the Green Revolution Chinese used predatory ants in citrus orchards to involved bio-engineered seeds that worked in control caterpillar and beetle pests. conjunction with chemical pesticides/fertilizers and heavy irrigation to increase crop yields. 19TH CENTURY However, such practice also lead to the destruction 1870-use of toxic substances for insect control, of the environment and affects the ecological was led by the use of the dye ‘Paris green’ which balance. was found to be effective against the Colorado beetle in the US Experts recognize the importance and interconnectedness of macro and microfauna, the Paris Green (copper acetoarsenite) is an emerald agroecosystem, thus the search for the best pest green powder that was formerly used as a pigment, management is still on-going. insecticide and fungicide. Integrated Pest Management BETWEEN 1870 AND 1890- BORDEAUX MIXTURE was used against Grape Phylloxera in = an effective and environmentally sensitive French vineyards approach to pest management that relies on a combination of common-sense practices. IPM B o r d e a u x m i x t u r e —a c o m b i n a t i o n o programs use current, comprehensive information f c o p p e r s u l f a t e , l i m e , a n d w a t e r—i s a n e on the life cycles of pests and their interaction with ffectivefungicideandbactericidethat the environment. hasbeenusedfordecadestocontroldise asesoffruitandnuttrees,vinefruits,an IPM considers diseases, nematodes, insects, dornamentalplants. weeds, mollusks and rodents to find appropriate and cost- effective management methods for Developed by Pierre Marie Alexis Millardet agricultural intensification and crop productivity. 1880- First commercial spraying machine. IPM Goals and Scope 1930-Introduction of synthetic organic compounds 1. Enhance profit for plant pathogen control. 2. Maintain resources 3. Use pesticide judiciously 4. Lessen environment contamination cost 1939-The most famous insecticide- DDT PEST RESURGENCE-a situation where insecticide (dichlorodiphenyl trichloroethane)- developed by application initially reduces an infestation, but soon Paul Hermann Müller working for the Geigy afterwards the pest rebounds (resurges) to higher Chemical Company levels than before treatment. DDT IN 194 SECONDARY PEST OUTBREAK/PET --first of the modern synthetic insecticides REPLACEMENT -It was initially used with great effect to combat Replacement, or secondary pest outbreak, is malaria, typhus, and the other insect-borne human resurgence of non- target pests. diseases among both military and civilian populations. It occurs when pesticide is used to control the target pest, but afterwards a formerly insignificant -It also was effective for insect control in crop and pest replaces the target pest as an economic livestock production, institutions, homes, and problem. gardens. PESTICIDE RESISTANCE- Resistance is defined CANCELLED!!! as a change in the sensitivity of a pest population (Dichlorodiphenyl trichloroethane) in 1972 to a pesticide, resulting in the failure of a correct application of the pesticide to control the pest. 1940-First successful use of an entomopathogen; Milky Spore (Bacillus popillae) used to control -Resistance can develop when the same pesticide Japanese beetle. or similar ones with the same mode of action are used over and over again. SUPERVISED INSECT CONTROL 1950- It is an alternative to calendar-based insecticide programs. EMERGENCE OF THE EARLY CONCEPT OF Supervised control was based on a sound INTEGRATED PEST MANAGEMENT knowledge of the ecology and analysis of projected trends in pest and natural-enemy populations. EMERGENCE OF EARLY CONCEPT-The experience of combining natural enemies, with host INTEGRATED CONTROL- "integrated control” - plant resistance and rational use of chemicals in the concept was based from supervised control by the 1960s against the spotted alfalfa aphid the University of California entomologists in the Therioaphis maculata emerged the integrated pest 1950s. control philosophy. -I n t e g r a t e d c o n t r o l w a n t s t o i d e n t i f y t h -The ecological and economic impact of chemical ebestmixtureofchemicalandbiologic pest control came to be known as the “PESTICIDE alcontrolsforagiveninsectpest. TREADMILL” because once farmers set foot on the treadmill it was virtually impossible to try -The adage of "if a little works, a lot will work better alternatives and remain in viable business (Clunies- ” was the major premise for applying chemical to Ross and Hildyard, 1992) address pest problems on the farm and around the home. 1950- Ecological backlash pesticide -induced problems: -pest resurgence -pest replacement/secondary pest outbreak A landmark event in the history of pest management was the publication in 1962 of the -pesticide resistance caused problems in book SILENT SPRING by RACHEL CARSON agriculture. SILENT SPRING How to properly identify damage caused by It meticulously described how DDT entered the weeds? food chain and accumulated in the fatty tissues of animals, including human beings, and caused Weeds can also harm crops and cause significant cancer and genetic damage. damage if not managed properly. Silent Spring's main idea is that synthetic Competition in water, minerals and sunlight. It pesticides are harmful to the natural environment causes stunting of crops. and cause cancer in humans. Carson uses her arguments to propose regulation, study, and Growth inhibition due to allelopathy. alternatives to these pesticides. Allelopathy is defined as a direct or indirect Pest Problems interaction, whereby allelochemicals released by one organism influence the physiological processes Damages caused by insects to plants are a result of other neighboring organisms. of feeding directly on above- ground and below-ground plant parts. The feeding damage Allelopathy can have an adverse effect in crops, caused by an insect pest is associated to the type resulting in reduced seed germination and plant of its mouthparts (Barbercheck, 2011). growth. How to properly identify insect pest damage? Reduction of the quality and market value of farm products, thus lowering farm profit. Insects with chewing mouthparts such as grasshoppers, caterpillars, and beetles cause What is a famine? feeding damage such as holes or notches in foliage and other plant parts, leaf skeletonizing (removal of tissue between the leaf veins), plant defoliation, cutting plants off at the soil surface, or consumption of roots. Some insects with chewing mouthparts bore or Plant diseases caused by pathogens can only be tunnel into plant tissues. Stem-boring insects can determined properly by correct diagnosis based on kill or deform individual stems or whole plants. Leaf the signs and symptoms. mining insects feed between the upper and lower surfaces of leaves, creating distinctive tunnel Sign refers to the pathogen or part of the pathogen patterns visible as translucent lines or blotches on observed on the plants. leaves. Symptoms are visual or otherwise detectable Insects with sucking mouthparts, such as aphids, alterations in a plant that result from disease or scales, leafhoppers, and true bugs, feed by sucking injury. As the disease progresses, symptoms often sap from plant tissues. This type of feeding can change. Initial symptoms are often invisible or very cause spotting or stippling of foliage, leaf curling, small. drying and death of tissues, and stunted or misshapen fruits. Symptoms can generally be placed in the following categories: Some insects, for example thrips, have rasping - sucking mouthparts that scrape the surface of 1. Abnormal tissue coloration foliage or flower parts. Thrips suck up the spilled Leaf appearance commonly changes. Leaves may contents from the damaged cells. become chlorotic (yellowish) or necrotic (brown) or exhibit purpling, bronzing, reddening; mosaic or mottling patterns may appear. 2. Wilting are two of the most important elements in any Drought stress causes wilt. If a pathogen interferes integrated pest management (IPM) program with the uptake of water by the host plant, a part of the plant or the whole plant may die. Fungi Forming the basis of assessment and decision belonging to the genera Verticillium and Fusarium making is bioeconomics, the study of the and bacteria in the genus Xanthomonas are often relationships between pest numbers, host associated with wilt diseases as they colonize the responses to injury, and resultant economic losses xylem of plants leading to a lack of water transport. (Pedigo, 1996). 3.Tissue death Economic injury level [EIL] Necrotic (dead) tissue can appear in leaves, stems, or root, either as spots or as entire organs. The smallest number of insects (amount of injury) Common decay of soft succulent tissue, as in that will cause yield losses equal to the insect damping off in young seedlings. management costs. 4. Defoliation EILs are usually expressed as a pest density and As the infectious disease progresses, the plant may are developed from yield-loss relationships derived lose all its leaves and sometimes drop its fruit. from field research studies. The EIL has been described as the break-even point, the level of pest 5. Abnormal increase in tissue size a plant can tolerate, among other things. Some diseases increase cell numbers or cell size in the plant tissues, twisting and curling the leaves Economic Threshold [ET] or forming galls on stems or roots. The pest density at which management action 6. Dwarfing should be taken to prevent an increasing pest In some cases the pathogenic organism will reduce population from reaching the economic injury level cell number or size, stunting parts of the host plant [EIL]. or the whole host plant. The ET is the practical rule used to determine when 7. Replacement of host plant tissue by tissue of to take management action. the infectious organism This occurs commonly where floral parts or fruits Package OF TECHNOLOGY (POT) for IPM are involved. Example is corn smut caused by the fungus Ustilago maydis. IPM packages are holistic and promote a range of technologies to manage multiple crop pest issues Proper identification of pests, acquaintance with from the time of soil preparation to harvest. their damages and symptoms as well as the awareness on their natural enemies are imperative IPM packages are designed such that technologies in their proper management. can be adopted in a targeted location for a specific pest complex with ease and modified to suit local conditions. ETL BASED IPM IN FORMULATING POT IN IPM (GENERAL Agroecosystem CONSIDERATIONS) An agroecosystem is a cultivated ecosystem, generally corresponding to the spatial unit of a farm and whose ecosystem functions are valued by humans in the form of agricultural goods and services. It is thus co-produced by nature and humans. ETL BASED IPM pest population assessment and decision making The Filipino brand of IPM is (IPM) techniques in rice farming, but it has also been used in organic agriculture, animal KASAKALIKASAN. husbandry, and also non-farm income generating (KAsaganaan ng SAkahan At Kalikasan) activities such as handicrafts. Choose pest management options in the manner that these are compatible with one another. Multidisciplinary WHAT is kasakalikasan? KASAKALIKASAN, the local name for the Philippine National Integrated Pest Management (IPM) Program, stands for Kasaganaanng Sakahanat Kalikasan. It was launched by then President Fidel V. RA 8435 or Agriculture and Fisheries Ramos on 3 May 1993 to train farmers in order to Modernization Act (AFMA) of 1997 empower them to become experts in their own fields by developing their ability to make critical and AFMA promoted initiatives that reduced pesticide informed decisions, as well as, to render crop use. production systems more productive, profitable and sustainable. Ginintuang Masaganang Ani Program It aims to make IPM the standard approach to crop -promotes IPM in staple crops -rice and corn husbandry and pest management in rice, corn, and vegetable production in the Philippines. -The Ginintuang Masaganang Ani (GMA) Rice Program traces its roots from the Hybrid Rice FARMER FIELD SCHOOLS [FFS] Commercialization Program (HRCP). The Philippines supports the UN Agenda 21, when municipal and provincial governments took over FIELD agricultural extension, where they trained Fertilizer agricultural technicians. Irrigation and Infrastructure Extension, Education and Training UN AGENDA 21 Loans Dryers and other postharvest facilities is a comprehensive plan of action to be taken Seeds globally, nationally and locally by organizations of the United Nations System, Governments, and The Program is tasked to implement initiatives on Major Groups in every area in which human production by providing farmers with high quality impacts on the environment. hybrid and inbred certified seeds, restoration/rehabilitation of irrigation systems, WHAT is FFS? provision of postharvest drying facilities, provision of credit, marketing, extension activities, research Farmer Field Schools (FFS) is a group-based and development efforts, and coordination with all adult learning approach that teaches farmers how rice industry stakeholders. to experiment and solve problems independently. Sometimes called “schools without walls” in FFS groups of farmers meet regularly with a facilitator, observe, talk, ask questions, and learn together. Farmer field schools as an approach was first developed to teach integrated pest management GLOBALIZATION Globalization is a planetary process or set of 5 perspectives on globalization processes involving increasing liquidity and First, globalization can be seen as being growing multidirectional flows of people, objects, hardwired into humans, in the form of a basic urge places, and information, as well as the structures for a better life. This instinct results in the spread of they encounter and create. Such structures can globalization through commerce, religion, politics, either act as barriers to or expedite those flows. and warfare. With the rise of global liquidity or globalization - Second, globalization may be perceived as a people, forces, or industries all over the world long‐term cyclical process. In this view, there have have become more flexible. Such as they're more been other global ages prior to the present one, mobile, readily able to communicate, travel, and and each age is destined to contract and adapt to changes, they have the power to shape disappear, after attaining a peak. their lives according to their wants and the world right no Third, globalization can be viewed as a series of historical phases or waves, each with its own point Globalization can be analyzed through conceptual of origin. metaphors, including those of “solids,” “liquids,” “flows,” “structures,” A fourth perspective argues that the multiple points of origin of globalization are located in “heavy,” “light,” and “weightless.” seminal historical events. Solidity A fifth view focuses on broader, more recent Solidity also refers to the persistence of the barriers changes in the twentieth century. It argues that the that prevented the free movement of people, global processes in motion prior to WW II were information, and objects in that area. more limited in geographic scope and less intensive than the global processes of the late LIQUID twentieth and early twenty‐first centuries. A range of technological developments in transportation and communication have enabled THE HISTORICAL ORIGINS OF rapidly increasing global movement of what was GLOBALIZATION previously solid Globalization is increasingly characterized by Several historians divide the historical origins of flows of liquid phenomena, including people, globalization into three (3) periods: objects, decisions, information, and places. In spite of the greater liquidity and ever‐increasing Archaic Globalization flows of various types, the world is still Proto-globalization characterized by great inequality. While Modern Globalization globalization flows more easily through the global North, it bypasses many locales in the less ARCHAIC GLOBALIZATION developed South. A phase in the history of globalization, and conventionally refers to globalizing events and HEAVY developments from the time of the earliest Pre‐industrial and industrial societies were civilizations until roughly the 1600s. “heavy,” characterized by that which is difficult to move The ARABS transformed agriculture during the Advances in transportation and technology made Golden Age of Islam by spreading major crops and goods, people, and places lighter techniques such as irrigation across the World Structural barriers The orange is assumed to have originated in These serve to differentiate and subordinate southern China, northeastern India, and perhaps people on the basis of social class, race, ethnicity, southeastern Asia (formerly Indochina). It was gender, age, sexual orientation, and global region carried to the Mediterranean area possibly by Italian traders after 1450 or by the Portuguese Contributory Factors to Slowbalisation navigators around 1500 1. Improved or technological advancements 2. Changing consumer preferences Three Principles of Archaic Globalization 3. Higher tariffs 4. Environmental concerns 1. Universalizing kingship 5. Carbon taxes 2. Expansion of religious movements 3. Medicinal understanding DEGLOBALIZATION The process of diminishing interdependence and PROTO-GLOBALIZATION integration between certain units around the world, First introduced by historians A. G. Hopkins and typically nation- states. It is widely used to describe Christopher Bayly, the term describes the phase of the periods of history when economic trade and increasing trade links and cultural exchange that investment between countries decline. characterized the period roughly spanning the years between 1600 and 1800. Contributory Factors to Deglobalization 1. Continuously low unemployment in the world It was characterized by the rise of maritime economy European empires, in the 15th, 16th and 17th 2. Income divide problem/income inequality centuries, first the Portuguese and Spanish 3. Uncertain risks, such as the coronavirus Empires, and later the Dutch and British Empires. pandemic since 2020, 4. Trade tensions between countries It initiated the so-called Columbian Exchange, 5. The rise of populism the enormous widespread exchange of plants, animals, foods, human populations (including slaves), communicable diseases, and culture THEORIZING GLOBALIZATION between the Eastern and Western hemispheres. Imperialism vs Colonialism MODERN GLOBALIZATION The 19th century witnessed the advent of Imperialism globalization approaching its modern form. Industrialization allowed cheap production of means the practice, the theory, and the attitudes household items using economies of scale, while of a dominating metropolitan center ruling a distant rapid population growth created sustained demand territory; for commodities. more defined by economic control (and exploitation) Modern Globalization points its origin, according to Scholars, changes to the in global following politics Colonialism which happened during the last half of the 20th century. colonialism,’ which is almost always a consequence of imperialism, is the implanting of 1.Emergence of the United States as global power settlements on the distant territory” (Post-World War II) more about political control 2. Emergence of multinational corporations (MNCs). Imperialism 3. Fall of the Soviet Union and the end of the Cold War Imperialism is a broad concept that describes various methods employed by one country to gain SLOWBALISATION control (sometimes through territorial conquest) of A term coined by the Dutch writer Adjiedj Bakas another country (or geographic area) and then to referring to the phenomena which involves a exercise that control (especially political, economic, slowing down of the pace of global integration. and territorial) over it – and perhaps many others (Smith 2016).  The term “imperialism” came into widespread use DEVELOPMENT in the late nineteenth century as a number of nations (Germany, Italy, Belgium, Great Britain, A “project” primarily concerned with the economic France, the United States) competed for control development of specific nation‐states not regarded over previously undeveloped geographic areas, as sufficiently developed. especially in Africa Import‐substitution The economic nature of capitalism leads “Encouraging” countries (usually in the South) to capitalistic economies , and the nation‐states that develop their own industries, instead of producing are dominated by them, to seek out and control for export and relying on imports. distant geographic areas. Control over foreign markets and foreign investments create new Dependency Theory markets for them increase in the dependence on the countries on Imperialism as a parasitic system (Vladimir the North Lenin) underdevelopment is built into these development projects Therefore, imperialism is the highest (advanced) development programs bring impoverishment stage of capitalism, requiring monopolies to exploit labour and natural resources, and the exportation Misconceptions of finance capital, rather than manufactured goods, to sustain colonialism, which is an integral function unilateral development (following the paths of of imperialism. developed nations the source of underdevelopment is internal to the Much to do with European Politics and competition underdeveloped country among European nation-states diffusion of capital, institutions and values will promote development Sense of the superiority of European culture. capitalism will be the cause of development in both developed and developing nations Colonialism WORLD SYSTEMS THEORY Creation by a colonial power of an administration Pore periphery in an area that has been colonized to run its Development was unilateral and internal affairs. unidirectional Settlers Formal mechanisms Greater inequality and exploitation Administrative apparatus Neo‐colonialism Decolonization Indirect control subtle (e.g. through cultural and educational the momentum shifted in the direction of institutions), economic control and decolonization, or “the process of revealing and exploitation The subtlety of neo-colonialism dismantling colonialist power in all its forms made it more insidious and harder to detect, and therefore more difficult to resist and Post‐colonialism combat this implies the era in once‐colonized areas after Neocolonialism takes the form of economic the colonizing power has departed (although imperialism, globalization, cultural imperialism and post‐colonial thinking and work could already be conditional aid to influence or control developing well underway before their departure). country instead of the previous colonial methods of direct military control or indirect political control Developments that take place in a former colony (hegemony). after the colonizing power departs. AMERICANIZATION Neoliberal State Globalization is another term for the dominant role The state in general is to be subordinated to the of the United States globally. economy. In the neoliberal state, the focus is on those who gain from capital accumulation (the defined as the export of products, images, capitalists). technologies, practices, and behaviors that are closely associated with America and Americans. Neoliberals argue that free markets and free trade are linked to a democratic political system. American dominance in the realm of consumption (Amazon, Coca-Cola, Mc Donald’s, Visa,Disney, Limited government- No government can do Starbucks) things as well as the market, and a government should not intervene in the market. Anti‐Americanism as a Global Process Critiquing Neoliberalism: Karl Polanyi rejection of American foreign policy and a firm belief in the malignity of American influence and Polanyi (1944 ) showed that the laissez‐faire presence anywhere in the world. system came into existence with the help of the state and was able to continue to function as a NEOLIBERALISM result of state actions. Liberal commitment to individual liberty combined Double movement: The coexistence of the with a belief in the free market and opposition to expansion of the laissez faire market and the state intervention in it. reaction against it. Free market: A market free of any impediments. Contemporary Criticisms of Neoliberalism Deregulation: A commitment by nation‐states to Neoliberalism very often comes down to the limit or eliminate restraints on the free market and North, the United States, and/or global free trade. organizations (e.g. the IMF) seeking to impose their definitions of well‐being and freedom on other The nation's capitalists were the main parts of the world. beneficiaries of this shock therapy, especially privatization, which put them in an ownership financial crises position and in control of the newly privatized Commodify everything industries. Degradation of environment Inequality The main victims were the nation's poor, whose Decline of the state economic situation was made worse by the marginalization, and the lowest economic growth shredding of the social safety net that served to protect them, at least to some degree. “capital accumulation by dispossession,” or the transfer of wealth from the many to the few. While Much of the world came to accept, or was this dispossession takes different forms in different coerced into accepting, neoliberalism. Major forces places, an example is the neoliberal reforms in in this were the International Monetary Fund (IMF) Mexico that have promoted widespread and the World Bank privatization of land. Rather than this land providing a form of subsistence to poor farmers, it is Structural Adjustment concentrated in the hands of large business interests, increasing their private wealth without Conditions of economic “restructuring” imposed actually generating any new wealth. by organizations such as the World Bank and the International Monetary Fund (IMF) on borrowing nation‐states. NEO‐MARXIAN THEORIES Transnational Capitalism The first – the neoliberal capitalist system of globalization – is the one that is now predominant. The other is the socialist system, which is not yet in existence, but is foreshadowed by current alter‐globalization movements, especially those oriented toward greater human rights throughout the world. THE GLOBAL ECONOMIC SYSTEM Chapter 3: Structuralizing the Global Economy STRUCTURAL SIMILARITIES: THEN AND NOW Large-scale flows of capital ECONOMIC GLOBALIZATION Large-scale immigration Specialization based on “Law of Economic globalization is one of the three main Comparative Advantage” dimensions of globalization commonly found in Emphasis on free trade academic literature, with the twoothers being political globalization and cultural globalization. PROBLEMS CREATED: THEN AND NOW The poor are subjugated by the operations Economic globalization refers to the increasing of the global economy interdependence of world economies as a result of Not all parts of the world gain equally the growing scale of cross-border trade of Certain industries or social classes lose out commodities and services, flow of international The poor tend to suffer most when forced to capital and wide and rapid spread of technologies. repay debts Before Bretton Woods BEFORE BRETTON WOODS Economic Development During and After WW II APriori Epoch of Globalization Autarky: The turn inward of a nation‐state in order to become as economically self‐sufficient as possible. Isolationism: a policy of remaining apart from the affairs or interests of other groups, especially the political affairs of other countries. ECONOMIC DEVELOPMENT DURING AND AFTER WWII Not only are there structural similarities between Fear of the recurrence of the great the global economic developments in the two depression after the end of the war periods, but the problems created are also similar. Fear of resurrection of barriers to trade and the free flow of money. In sum, the global economy of a century ago (and Another concern was the promotion of much the same could be said today) “was not financial stability around the globe. equally good for everyone and was bad for many” BRETTON WOODS AND THE BRETTON 3‐week meeting in July 1944 at the Mount WOODS SYSTEM Washington Hotel in Bretton Woods, New Hampshire, which led to the beginning of the Bretton Woods System and its five key “Bretton Woods system.” elements Bretton Woods had its most powerful effects on global trade, the global monetary order, and global investment. Some of the notable changes occurred during In terms of g l o b a l tra d e , a k e y i d e a w a s t Bretton Woods-Era include: h e “ u n c o n d i ti o n a l most‐favored‐nation, ” 1. International Monetary Fund (IMF) which “required governments to offer the same Fixed Exchange Rate System -> Floating trade concessions [reductions in trade barriers, Exchange Rate System (fixed to another country's non‐discrimination against a nation's products] to currency) (allows automatic adjustment) all” 2. World Bank expansion of lending programs Organizations introduction of a new type of lending instrument. became more focus on financing infrastructure General Agreement on Tariffs and Trade projects (GATT) Trade‐Related Aspects of Intellectual 3. General Agreement On Tariffs and Trade Property Rights (TRIPS) (GATT) Trade‐Related Investment Measures helped to reduce trade barriers (TRIMs) expansion of international trade World Trade Organization (WTO) Here are some of the main critiques: International Monetary Fund (IMF) - Structural Adjustment 1. Undemocratic Decision-Making - Austerity: Economic policies that cut 2. Failures to address systematic problems government spending (especially social 3. Neoliberal Policies programs) to reduce public debt. 4. Imposition of conditions World Bank OTHER IMPORTANT ECONOMIC WORLD BANK ORGANIZATIONS encouraging “development of productive The Organization for Economic Cooperation and facilities and resources in less developed Development (OECD) is a broad group of, at the countries”; moment, 34 developed nations. It is “the most funding for “productive purposes” when encompassing ‘club’ of the world's rich countries”. private capital cannot be obtained on While the OECD has little formal power, it is highly reasonable terms; influential. encouraging international investment to promote international trade and What are examples of economic organizations? development and equilibrium in the balance of payments; The three major international economic helping member countries improve their organizations are the World Bank, the productivity, standard of living, and labor International Monetary Fund (IMF), and the conditions. World Trade Organization (WTO). End of Bretton Woods The European Union (EU) is a product of the post‐WW II era, as well as the Bretton It can be argued that Bretton Woods itself died on Woods era. August 15, 1971. On that date, President Richard The North American Free Trade Agreement Nixon took the United States off the gold standard, (NAFTA) came into effect on January 1, resulting in a devaluation of the dollar and the end 1994. of the standard by which the currencies of other The Free Trade Area of the Americas nations operated. (FTAA) CHANGES IN, CRITIQUES OF BRETTON WOODS ERA ORGANIZATIONS The Role of Emerging Economies Emerging economies, or newly industrializing economies, a r e l e s s d e v e l o p e d c o u n tri e s w h o s e n e w e r industrialization is fueling their economic growth and political influence. You have seen emerging economies – countries like Mexico, Brazil, Chile, Russia, China, India, and Vietnam Prior to (and during) the Great Recession, there was much attention paid to the large emerging economies of the world. Particular emphasis was placed on Brazil, Russia, India, China, and South Africa (popularly referred to as BRICS), which had very large and growing populations that could serve as a massive workforce and untapped consumer market. THE MULTINATIONAL CORPORATION (MNC) Multinational corporation (MNC): A corporation that operates in more than two countries. Why do companies become multinational? In terms of production activities, there are various possibilities: Globally concentrated production in a single location. Production specifically for a local or national market. Production of a specialized product for a regional market Segmented production, with different parts located in different geographic areas. THE MYTH OF ECONOMIC GLOBALIZATION? Hirst et al. (2009) famously argue that globalization, especially economic globalization, is a myth. They assert that such a highly internationalized economy, although it may not have been labeled “global, ” is not unprecedented. Trade continues to involve mainly Europe, Japan, and North America, although China and India have emerged as new superpowers; it is not truly global. W h i l e t h e s e a r e s o l i d arguments, they really come d o w n to t h e p o i n t t h a t contemporar y economic globalization may not be as new or as great as many contend.