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Prospect theory is a theory of behavioral economics, judgment and decision making that was developed by Daniel Kahneman and Amos Tversky in 1979. [1] The theory was cited in the decision to award Kahneman the 2002 Nobel Memorial Prize in Economics .
Globalization is the process of increasing interdependence and integration among the economies, markets, societies, and cultures of different countries worldwide. This is made possible by the reduction of barriers to international trade, the liberalization of capital movements, the development of transportation, and the advancement of information and communication technologies. [1]
The theory views the world system as a social system with a cultural framework called world polity, which encompasses and influences the actors under it. [2] According to the theory, world polity provides a set of cultural norms and directions that actors of the world society follow in dealing with problems and general procedures. [3]
Globalization has created much global and internal unrest in many countries. While the dynamics of capitalism are changing and each country is unique in its political makeup, globalization is a set-in-stone "program" that is difficult to implement without political unrest.
Hyper-globalization is the dramatic change in the size, scope, and velocity of globalization that began in the late 1990s and that continues into the beginning of the 21st century. It covers all three main dimensions of economic globalization , cultural globalization , and political globalization .
Political globalization is the growth of the worldwide political system, both in size and complexity. That system includes national governments , their governmental and intergovernmental organizations as well as government-independent elements of global civil society such as international non-governmental organizations and social movement ...
Welcome to the online version of From the Politics Desk, an evening newsletter that brings you the NBC News Politics team’s latest reporting and analysis from the campaign trail, the White House ...
Global politics, also known as world politics, [1] names both the discipline that studies the political and economic patterns of the world and the field that is being studied. At the centre of that field are the different processes of political globalization in relation to questions of social power.