World-System Theorists Argue That Globalization Is Not Something Entirely New;

question 13

True/False

World-system theorists argue that globalization is not something entirely new; there have been earlier periods of trade globalization prior to the modern period.

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Definitions:

Interest Rate

The Interest Rate is the percentage at which interest is paid by borrowers for the use of money they borrow from a lender, commonly expressed as an annual percentage.

Aristotle

An ancient Greek philosopher and polymath who made significant contributions to numerous fields of study, including metaphysics, ethics, politics, and natural science.

Usury

Charging an excessively high or illegal rate of interest on borrowed money.

Joseph Schumpeter

An economist and political scientist known for his theories on economic innovation and the concept of "creative destruction" in capitalism.