HIST 1020 Lecture Notes - Lecture 21: International Monetary Fund, Yom Kippur War, Stagflation
Document Summary
Rachel carson- silent spring (1962)- discusses effects of pesticides on bird populations- gets people to engage in environmental activism around the world- us bans use of bdt pesticide- allows bald eagle population to survive. Conflict between protectors of the environment and proponents of economic development (example: green revolution scientists vs. 1973 energy crisis- dramatically affects economies of us, canada, Shifts oil-producing nations from periphery to the center of the world economy (ex. Four asian tigers : hong kong, singapore, taiwan, south korea. Creates the foundation for future asian trade and economic growth to the present day. The international monetary fund (imf) and the world bank. Stagflation- certain sectors of economy doing well, while others are in permanent decline. Outsourcing- send manufacturing plants to third world where cheaper to produce- jobs move overseas, people become unemployed. Technological innovation- need fewer people to produce- leads to unemployment. The rise of the rust belt - formerly major manufacturing centers.
