Vocabulary practice. Colonialism is the maintenance of political, social, economic and cultural domination over a people by a foreign power for an extended period of time

Colonialism is the maintenance of political, social, economic and cultural domination over a people by a foreign power for an extended period of time. By the 1980s colonialism had largely become a phenomenon of the past because most of the world's peoples had achieved political independence and established their own governments. However, former colonies were unable to develop their own industry and technology and their economic dependence on more industrialized nations has continued. Such continuing dependence and foreign domination is known asneocolonialism.

A key role in the neocolonialism of the 1990s is playedby multinational corporations, i.e. commercial organizations which, while headquartered in one country, own or control other corporations throughout the world. Though multinationals can have a positive impact on the developing nations of the world bringing jobs and industries, on the whole, their negative social impact on workers in both industrialized and developing nations is great. Social and political scientists have reported that moving factories out of countries such as the United States multinationals increase both unemployment in these countries and economic inequality and dependence within developing nations. In many respects, the rise of multinational corporations has become a threat to national sovereignty. At present, managers of Fiat, British Petroleum, and similar firms have more power than most sovereign governments to determine where people will live and what work (if any) they will perform.

By the year 2000 a few hundred corporations will account for more than half the value of goods and services produced in the entire world. Clearly, multinational corporations are reshaping the economic life and are transforming the societies in which they function.

I. Read and translate the text using a dictionaryif necessary.

II. Find in the text English equivalents of the following:

производить (распределять, потреблять) товары (услуги), со­стоять из, поселение, оставаться ограниченным, полагаться на, заниматься чем-либо, предметы домашнего обихода, на после­дней стадии, создать прибыль (излишек), обеспечить свои по­требности, поддерживать, разделение труда, право собственнос­ти, иметь специфические последствия, главным образом (2), что касается, средства производства, отличаться по степени, право на владение частной собственностью, свободно конкурировать, вмешательство правительства, ограничение, ввести потребителей в заблуждение, подвергать опасности, обманывать вкладчиков, находиться в коллективной собственности, цель (2), удовлетво­рить потребности, получить прибыль, государственная собствен­ность, соответствовать одной из двух моделей, разрабатывать и распространять идеи, неравенство (несоответствие), длительный период времени, бывшие колонии, штаб (центр), безработица, во многих отношениях, угроза чему-либо.

III. Supplythe missing words and word combinations choosing among those given below.

1) Like the other social institutions, the economic system... some aspects of the social order and is... influenced by them. 2) Technology within the preindustrial society remains rather... as it mostly... on the physical power of humans and animals. 3) But at the last... of the preindustrial society a social surplus is.... 4) As a result, the division of labor into... tasks is more.... 5) The industrial revolution focused on the... of... sources of power to labor tasks. 6) The process of industrialization produced... changes and had... consequences. 7) The industrial society relies... on mechanization for the... of its economic goods and services. 8) In practice, capitalist systems... in the degree to which private... and economic activity are... by government. 9) The free enterprise system allows people... freely with minimal government... in the economy. 10) Without... business firms can... consumers,... the safety of their workers and even... the companies' investors. 11) The basic objective of the socialist economic system is... rather than.... 12) No nation... fits... model. 13) The world today can be... of as a single.... 14) Most former colonies... political independence and... their own governments. 15) Multinationals... in one country but... or... other corporations throughout the world. 16) By the year 2000 a few hundred corporations will... for more than half the value of goods and services produced in the... world.

account, entire, headquarter, own, control, achieved, established, conceived, marketplace, precisely, either, to meet people's needs, to make profits, restrictions, mislead, endanger, defraud, to compete, intervention, vary, ownership, regulated, chiefly, production, significant, distinctive, application, nonanimal, specialised, extensive, stage, created, limited, relies, shapes, in turn.

IV. Studythe following word combinations and use them in sentences of your own:

in turn, according to, to be composed of, to be related to, to remain limited, to rely on, to be engaged in, to take on growing importance, to focus on, to produce significant changes, to have distinctive consequences, as for, in practice, to compete freely with, to mislead smb, to endanger smth, to defraud smb, to differ from... in, to exclude smb from doing smth, to be privately owned, to be collectively owned, to be government owned, to meet one's needs, to reject an idea, to make profits, to be devoted to, to generate (to spread) ideas, to be (un)equally shared, to be responsible for, de­pendence on, independence of, to become a threat to, to account for.

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