Essential Political and Economic Terms
Human Rights
Refers to the set of freedoms and rights every person has from birth.
Chambers
A body belonging to a political system responsible for regulation.
Universal Suffrage
An electoral system which gives the right to vote to all adult citizens of both sexes.
Constitution
The supreme law that all citizens must obey without exception.
Quebec
The largest province of Canada, the only one that has French as its official language.
Apartheid
A system of racial segregation.
Diaspora
The separation of ethnic or religious groups who have been displaced from their place of origin and have been distributed throughout different parts of the world.
ERDF
European Regional Development Fund.
Globalization
The unification of markets, societies, and cultures through a changing world.
International Monetary Fund (IMF)
An economic cooperation framework aimed at preventing a repeat of the disastrous economic policies that led to the Great Depression of the 1930s.
World Bank
An organization providing financial and technical assistance to developing countries worldwide.
World Trade Organization (WTO)
Aims to promote trade and reduce tariffs worldwide.
Neoliberal Doctrine
An economic theory that advocates for market liberalization.
Foreign Debt
Occurs when less developed countries borrow from more developed countries. Interest rates may rise for certain reasons, causing these countries to spend more on debt repayment than on their development.
FAO
Provides services to countries related to agricultural activities, forestry, fisheries, and nutrition.
HDI (Human Development Index)
A result obtained by calculating the index of life expectancy, annual GDP, and education indicators.
Western Culture
Includes the Orthodox world and the Latin American world. Other major cultural areas include Muslim or Islamic, Jewish, Indian, Sinic, Sub-Saharan African, and Buddhist areas.
CAP (Common Agricultural Policy)
Aims to ensure security of supply and reasonable prices for consumers, increase agricultural productivity, guarantee fair living standards for farmers, and stabilize prices.
CFP (Common Fisheries Policy)
A set of rules and mechanisms for the exploitation of marine resources and marketing.
PCI
Accelerates industry adjustment to structural changes, fosters initiative and business development, and favors R&D&I (Research, Development, and Innovation).
PSC
Promotes employment, improves working conditions, ensures proper social protection, encourages social dialogue, and supports investment in human resources.
European Parliament
Develops proposed laws and policies adopted by the Council, and approves community budgets.
Court of Justice of the European Union (CJEU)
Resolves conflicts arising within the EU and ensures compliance with EU law.
European Commission
Responsible for legislative initiative, enforcement of existing treaties, overseeing member states’ efforts, applying rules, imposing sanctions, and managing work.
Tip (EU Legislative Process)
Decisions are discussed in Parliament, EU laws are proposed by the Commission, and decisions are agreed upon by the Council.
Consequences/Characteristics
- Increasing the monetary economy compared to the productive or real economy.
- Increasing differences between rich and poor.
- Cultural exchanges and mixing (mestizaje).
- Relocation of multinational production/welfare.
- Growing disparities between countries.