Question 1

Why is understanding the foraging lifestyle so important to economic anthropologists? When did humans first use this adaptive strategy, and how many humans rely on this practice today? What are the primary locations where it is practiced today? Think specifically of the resources and means of obtaining them, settlement patterns, and division of labor.

Accepted Answer

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Question 2

In the past several decades, many companies have made effective use of flexible accumulation-the strategy used by transnational corporations to maximize profits. What is one of the reasons that a company like Walmart has grown in both size and profit?

Accepted Answer

Walmart has grown in size and profits by establishing a vast network of overseas factories that manufacture products for them, allowing them to take advantage of cheap labor and materials in developing countries while selling goods at lower prices in developed countries. This is an example of flexible accumulation, as Walmart is able to maximize profits by constantly adapting their production and distribution strategies to changing market conditions. A, B, and D are not accurate reasons for Walmart's growth.

Question 3

In 2016, reports appeared in the media detailing the struggles of nail salon workers, who are often immigrants. Many work long hours under difficult conditions in order to meet the demand in the United States for the perfect pedicure. This example closely resembles accounts in your text by showing us what side of the complex global economy?

Accepted Answer

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Question 4

Colonialism had a long-lasting effect on world politics. While the development of the slave trade meant that the coastal regions of Africa were heavily colonized, the interior was not affected until the Berlin Conference in 1884. How did the colonial powers choose to divide the interior region among themselves?

Accepted Answer

The colonial powers chose to divide the interior region among themselves by drawing boundaries along geographical lines such as rivers and mountains. This was primarily done to avoid conflicts and disputes between the colonial powers. Ethnic and cultural lines were not taken into consideration, and negotiations with local leaders were minimal. The primary concern was to establish clear boundaries to establish territories and control resources.

Question 5

What is one way the U.S. government engaged in a Keynesian intervention following the 2008 financial collapse?

Accepted Answer

Following the 2008 financial collapse, the U.S. government engaged in a Keynesian intervention by moving to guarantee bank deposits threatened by economic collapse, which helped prevent a run on the banks and stabilize the financial system.

Question 6

After World War II, the United States was strongly influenced by Fordism. There was unprecedented industrial growth, with government stepping in to regulate some aspects of corporate behavior. What was the tax structure imposed on the country at that time and what side effect did it have?

Accepted Answer

The tax structure imposed during this time included a high marginal tax rate on the very wealthy, which helped moderate inequality. This allowed for more funds to be invested in social programs and infrastructure, ultimately boosting the economy and creating more jobs.

Question 7

In July 2016, the U.S. stock market opened higher after the Labor Department reported substantial national job growth. If an anthropologist were to study this phenomenon, what might he or she look into?

Accepted Answer

An anthropologist would be interested in examining the cultural assumptions underlying the association between job growth and the stock market. They would analyze how society has constructed this association and investigate what beliefs and values shape it. The accuracy of the jobs report is not directly relevant to an anthropological study of this phenomenon, and while employment trends over the past hundred years may provide context, they are not the main focus. The way in which stocks could continue to grow unfettered is also not directly relevant to an anthropological study.

Question 8

The text suggests that "ecological overshoot" is a likely consequence of our current global economy. What exactly does this mean?

Accepted Answer

Ecological overshoot refers to the situation when the human demand for resources and services exceeds the planet's ability to regenerate and provide them. This means that we are using up natural resources faster than the planet can replenish them, leading to depletion and degradation of ecosystems. This is a consequence of the current economic system, which prioritizes economic growth and consumption over environmental sustainability.

Question 9

What is the term for contracts based on (derived from) some other asset-commodities, interest rates, credit, foreign exchange rates, equities, and mortgages?

Accepted Answer

Contracts based on (derived from) some other asset are called financial derivatives. This includes commodities, interest rates, credit, foreign exchange rates, equities, and mortgages.

Question 10

Bangladesh's costal floodplain has been repeatedly inundated with monsoons, flooding, and devastating erosion. How does the nation of Bangladesh illustrate the problems of development and how it relates to environmental challenges?

Accepted Answer

Bangladesh is an example of how poorer nations suffer the consequences of climate change in ways that developed nations do not. Despite contributing very little to global greenhouse gas emissions, Bangladesh faces frequent and devastating floods, storms, and erosion due to rising sea levels and changing weather patterns. This illustrates the challenges of development in the face of environmental challenges and highlights the need for global cooperation and support for vulnerable nations.

Question 11

Currently, the world is consuming natural resources at double the rate required to maintain sustainable levels. What problem does this illustrate about the sustainability of the current global economy?

Accepted Answer

The fact that the world is consuming natural resources at twice the sustainable rate shows that the human ecological footprint is too large. This means that human activities like industry, agriculture, and transportation are not functioning in a sustainable way and are degrading the earth's resources at an unsustainable rate.

Question 12

Consider the data in Table 12.1 on Energy Consumption. Looking at the table, the United States is behind China for total energy consumption. However, the per capita energy consumption is far higher in the United States than it is for China, and higher still for Canada. What might this suggest as one crucial aspect of how we approach a solution to the global environmental crisis?

Accepted Answer

The difference in per capita energy consumption among countries emphasizes the importance of individual actions in reducing the overall ecological footprint. It is not about blaming specific countries or reducing populations, but rather recognizing the role of every individual in promoting sustainable practices.

Question 13

Which of these are requirements faced by governments receiving structural adjustment loans under neoliberal economic policies?

Accepted Answer

Governments receiving structural adjustment loans under neoliberal economic policies are required to privatize state-owned enterprises. This is because the ideology behind neoliberalism emphasizes the importance of free-market principles and reducing the size and scope of government intervention in the economy. Privatization is seen as a way to increase efficiency and competition in the market. Therefore, it is a common requirement for governments receiving structural adjustment loans. Price supports on essential commodities are typically reduced or eliminated, spending on health and education is often decreased, and regulations on banks and financial institutions may be relaxed or eliminated.

Question 14

Industrialized agriculture is noted in the text as having yielded dramatic increases in the overall food supply of the planet. At the same time, poverty and starvation have also gotten worse. What is the primary reason for this discrepancy?

Accepted Answer

The primary reason for the discrepancy is that food surpluses often go to wealthy industrialized nations, rather than being distributed to those who are starving in poorer regions.

Question 15

How does tracing the links in the commodity chain originating in Côte d'Ivoire inform us of the complex dynamics in the global economy? After defining the term commodity chain and identifying the commodities produced and exported from this nation, discuss how the recent history of this former colony illustrates three important dimensions of the global economy.

Accepted Answer

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Question 16

What is one result of the globalization of finance?

Accepted Answer

The globalization of finance has resulted in the erosion of the nation-state's ability to regulate what occurs within its borders. As financial markets have become increasingly interconnected and transactions occur across national boundaries, it has become difficult for individual countries to control the movement of capital and regulate financial institutions effectively. This has led to concerns about financial instability and the potential for crises to spread quickly across national borders.

Question 17

Which of the following does the author identify as a success the global economy has achieved in the past sixty years?

Accepted Answer

The author identifies the drop in infant mortality rates by more than 60 percent as a success achieved by the global economy in the past sixty years.

Question 18

Are structural adjustment loans as provided by organizations such as the World Bank consistent with the goals of neoliberalism?

Accepted Answer

Structural adjustment loans are consistent with the goals of neoliberalism because they often require countries to implement economic policies that promote free market principles, such as privatization, deregulation, and reducing government spending, which align with neoliberal ideology. The World Bank, despite being an international financial institution, operates with a mandate that aligns with these principles, making it supportive of neoliberal goals through its lending practices.

Question 19

How does the author describe the Chinese immigrants who enter the United States through New York as restaurant workers?

Accepted Answer

The author describes the Chinese immigrants who enter the United States through New York as restaurant workers as frequently suffering physical and emotional stress as underpaid employees working long hours. Therefore, option D is the best choice. Option A is incorrect because the author does not mention anything about their English proficiency before arrival. Option B is not supported by the passage because the author does not provide any information about the origin of Chinese immigrants who work in restaurants. Option C is also not mentioned in the passage.

Question 20

How does the Tsukiji fish market demonstrate the nature of a global commodity chain?

Accepted Answer

The Tsukiji fish market demonstrates the nature of a global commodity chain because it involves the movement of fish from a variety of locations to be processed, sold, and consumed in different parts of the world. The market connects previously unconnected people and locations in a network that traces the hands through which the fish pass. This is an essential feature of a global commodity chain.

Quiz 12: The Global Economy