Page 26 - Volume 2_CHANGES_merged_with links
P. 26
Some Key Terms
Changes!
Corporate Capitalism 15
In social science and economics, corporate capitalism is a capitalist marketplace
characterized by the dominance of hierarchical and bureaucratic corporations.
"Corporate Capitalism."
Wikipedia
Corporatocracy 16
Corporatocracy is a recent term used to refer to an economic and political system
controlled by corporations or corporate interests. It is a form of Plutocracy.
"Corporatocracy."
Wikipedia
Cultural Assimilation 17
Cultural assimilation is the process in which a minority group or culture comes to
resemble a society's majority group or assume the values, behaviors, and beliefs of
another group. A conceptualization describes cultural assimilation as similar to
acculturation while another merely considers the former as one of the latter's phases.
Throughout history there have been different forms of cultural assimilation examples of
types of acculturation include voluntary and involuntary assimilation.
"Cultural Assimilation."
Wikipedia
Debt Overhang 18
Debt overhang is the condition of an organization (for example, a business, government,
or family) that has existing debt so great that it cannot easily borrow more money, even
when that new borrowing is actually a good investment that would more than pay for
itself.
"Debt Overhang."
Wikipedia
Default Trap 19
The default traps in sovereign borrowing refers to the idea that once a country falls into a
default, it is more likely to default again in the future, compared to another country with
identical future output ability.
"Default Trap."
Wikipedia
