POL 540 Lecture Notes - Lecture 12: Debt Of Developing Countries, World Trade Organization, Deindustrialization
3 May 2016
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Document Summary
By means of the shift from developmentalism to neoliberalism. What changes in globalization, the state is no longer at the central pillar of capitalism, rather it"s the market that takes over. However, it is arguable that the market is controlled by the state. The market unfortunately has not done a good job. The wealth has divided greatly between the rich and the poor. As a result, inequality is significantly more profound today than it was in the 90s. Significance of 1989 + is that"s when the soviet union broke up. Neoliberalism started around 1983, although the turnaround of events was in the 70s when we had recessions occurring in the 70s. Also the oil prices significantly going up in the 70s contributed to slight deficiencies in capitalism. Marks a break in the historical pact between capital and organized labour beginning in the late.
